GAMMA Investing LLC Acquires 1,126 Shares of Paramount Global (NASDAQ:PARAA)

GAMMA Investing LLC lifted its holdings in shares of Paramount Global (NASDAQ:PARAA) by 708.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,285 shares of the company’s stock after purchasing an additional 1,126 shares during the period. GAMMA Investing LLC’s holdings in Paramount Global were worth $28,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Honeycomb Asset Management LP bought a new stake in Paramount Global in the 4th quarter valued at about $880,000. Ninety One UK Ltd bought a new stake in Paramount Global in the 4th quarter valued at about $3,421,000. B. Riley Wealth Advisors Inc. raised its stake in Paramount Global by 29.5% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 35,160 shares of the company’s stock valued at $557,000 after acquiring an additional 8,007 shares during the period. SageView Advisory Group LLC bought a new stake in Paramount Global in the 4th quarter valued at about $284,000. Finally, Raymond James & Associates bought a new stake in Paramount Global in the 4th quarter valued at about $205,000. 5.98% of the stock is currently owned by institutional investors.

Paramount Global Stock Down 1.0 %

PARAA stock opened at 16.89 on Thursday. The company has a quick ratio of 1.19, a current ratio of 1.29 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $11.02 billion, a PE ratio of -112.60 and a beta of 1.68. Paramount Global has a twelve month low of 13.40 and a twelve month high of 26.34. The stock has a 50-day simple moving average of 20.88 and a two-hundred day simple moving average of 20.88.

Paramount Global (NASDAQ:PARAA) last posted its earnings results on Monday, April 29th. The company reported 0.62 earnings per share for the quarter, beating analysts’ consensus estimates of 0.25 by 0.37. The business had revenue of 7.69 billion during the quarter, compared to analyst estimates of 7.85 billion. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. On average, equities analysts predict that Paramount Global will post 1.25 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Monday, June 17th. Paramount Global’s payout ratio is -133.33%.

Wall Street Analyst Weigh In

Separately, Seaport Res Ptn lowered Paramount Global from a “buy” rating to a “neutral” rating in a report on Thursday, May 2nd.

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.