Paramount Global (NASDAQ:PARAA) Shares Purchased by Gabelli Funds LLC

Gabelli Funds LLC grew its stake in shares of Paramount Global (NASDAQ:PARAA - Free Report) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,833,583 shares of the company's stock after purchasing an additional 24,592 shares during the quarter. Gabelli Funds LLC owned approximately 0.27% of Paramount Global worth $40,889,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of PARAA. Mariner LLC lifted its stake in Paramount Global by 10.0% in the fourth quarter. Mariner LLC now owns 15,657 shares of the company's stock valued at $349,000 after buying an additional 1,425 shares during the last quarter. Guardian Investment Management acquired a new stake in Paramount Global during the 4th quarter worth $963,000. State Street Corp grew its position in Paramount Global by 20.2% during the 3rd quarter. State Street Corp now owns 49,366 shares of the company's stock worth $1,082,000 after purchasing an additional 8,287 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Paramount Global by 450.7% in the fourth quarter. Bank of New York Mellon Corp now owns 124,832 shares of the company's stock valued at $2,784,000 after purchasing an additional 102,165 shares during the period. Finally, Geode Capital Management LLC increased its stake in Paramount Global by 16.7% in the third quarter. Geode Capital Management LLC now owns 247,015 shares of the company's stock valued at $5,400,000 after purchasing an additional 35,305 shares during the period. Institutional investors and hedge funds own 5.98% of the company's stock.

Paramount Global Stock Performance

Shares of PARAA traded down $0.20 during mid-day trading on Friday, hitting $22.17. 37,666 shares of the company's stock were exchanged, compared to its average volume of 51,331. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. Paramount Global has a fifty-two week low of $16.59 and a fifty-two week high of $26.34. The business's 50 day moving average is $22.67 and its two-hundred day moving average is $22.49. The firm has a market capitalization of $14.79 billion, a P/E ratio of -2.70 and a beta of 1.33.

Paramount Global (NASDAQ:PARAA - Get Free Report) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.27). The company had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8.07 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. On average, equities analysts expect that Paramount Global will post 2.25 earnings per share for the current year.

Paramount Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th were given a dividend of $0.05 per share. The ex-dividend date was Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a yield of 0.90%. Paramount Global's payout ratio is currently -2.15%.

Paramount Global Company Profile

Paramount Global operates as a media, streaming, and entertainment company worldwide. It operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. The TV Media segment operates CBS Television Network, a domestic broadcast television network; CBS Stations, a television station; and international free-to-air networks comprising Network 10, Channel 5, Telefe, and Chilevisión; domestic premium and basic cable networks, such as Paramount+ with Showtime, MTV, Comedy Central, Paramount Network, The Smithsonian Channel, Nickelodeon, BET Media Group, and CBS Sports Network; and international extensions of these brands.