Geode Capital Management LLC Raises Stock Holdings in Paramount Global (NASDAQ:PARAA)

Geode Capital Management LLC lifted its stake in Paramount Global (NASDAQ:PARAA) by 16.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 247,015 shares of the company’s stock after acquiring an additional 35,305 shares during the quarter. Geode Capital Management LLC’s holdings in Paramount Global were worth $5,400,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PARAA. Quest Partners LLC purchased a new stake in shares of Paramount Global during the 3rd quarter valued at about $106,000. Gladius Capital Management LP purchased a new stake in Paramount Global during the third quarter valued at approximately $233,000. Atom Investors LP bought a new position in Paramount Global in the third quarter worth approximately $244,000. Bank of New York Mellon Corp boosted its stake in shares of Paramount Global by 13.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 28,315 shares of the company’s stock worth $520,000 after acquiring an additional 3,281 shares during the last quarter. Finally, Squarepoint Ops LLC grew its position in shares of Paramount Global by 120.0% during the 2nd quarter. Squarepoint Ops LLC now owns 46,749 shares of the company’s stock valued at $859,000 after acquiring an additional 25,504 shares during the period. Institutional investors own 5.98% of the company’s stock.

Paramount Global Price Performance

Shares of Paramount Global stock opened at $22.47 on Friday. The stock has a market cap of $14.99 billion, a P/E ratio of -2.73 and a beta of 1.63. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The stock’s fifty day moving average is $22.47 and its 200 day moving average is $21.93. Paramount Global has a one year low of $16.59 and a one year high of $26.34.

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.