Squarepoint Ops LLC Purchases 25,504 Shares of Paramount Global (NASDAQ:PARAA)

Squarepoint Ops LLC boosted its stake in shares of Paramount Global (NASDAQ:PARAA - Free Report) by 120.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,749 shares of the company's stock after purchasing an additional 25,504 shares during the quarter. Squarepoint Ops LLC's holdings in Paramount Global were worth $859,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP boosted its holdings in Paramount Global by 4.6% during the second quarter. Dimensional Fund Advisors LP now owns 143,261 shares of the company's stock valued at $2,633,000 after acquiring an additional 6,309 shares during the period. Poehling Capital Management INC. boosted its stake in Paramount Global by 10.2% during the 2nd quarter. Poehling Capital Management INC. now owns 433,435 shares of the company's stock valued at $7,967,000 after purchasing an additional 40,142 shares during the period. Bank of New York Mellon Corp grew its holdings in Paramount Global by 13.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 28,315 shares of the company's stock valued at $520,000 after buying an additional 3,281 shares during the last quarter. Welch Group LLC bought a new position in Paramount Global in the 2nd quarter worth approximately $298,000. Finally, B. Riley Wealth Advisors Inc. lifted its holdings in shares of Paramount Global by 27.0% during the first quarter. B. Riley Wealth Advisors Inc. now owns 35,160 shares of the company's stock worth $768,000 after buying an additional 7,479 shares during the last quarter. Institutional investors and hedge funds own 5.98% of the company's stock.

Paramount Global Price Performance

Shares of Paramount Global stock remained flat at $22.14 during midday trading on Tuesday. 14,750 shares of the stock traded hands, compared to its average volume of 73,884. Paramount Global has a twelve month low of $13.40 and a twelve month high of $26.34. The company's fifty day moving average price is $22.38 and its 200 day moving average price is $21.59. The company has a market cap of $14.76 billion, a PE ratio of -147.59 and a beta of 1.66. The company has a current ratio of 1.30, a quick ratio of 1.15 and a debt-to-equity ratio of 0.85.

Paramount Global (NASDAQ:PARAA - Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.36. The company had revenue of $6.81 billion for the quarter, compared to analyst estimates of $7.55 billion. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. On average, sell-side analysts expect that Paramount Global will post 1.96 EPS for the current fiscal year.

Paramount Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, December 16th. This represents a $0.20 annualized dividend and a yield of 0.90%. Paramount Global's dividend payout ratio is -133.32%.

About Paramount Global

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.