Paramount Global (NASDAQ:PARAA) Position Decreased by Renaissance Technologies LLC

Renaissance Technologies LLC cut its holdings in shares of Paramount Global (NASDAQ:PARAA) by 2.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,703 shares of the company’s stock after selling 700 shares during the period. Renaissance Technologies LLC’s holdings in Paramount Global were worth $454,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC raised its stake in Paramount Global by 708.2% during the 1st quarter. GAMMA Investing LLC now owns 1,285 shares of the company’s stock valued at $28,000 after purchasing an additional 1,126 shares during the period. Russell Investments Group Ltd. lifted its stake in Paramount Global by 416.3% in the 1st quarter. Russell Investments Group Ltd. now owns 2,592 shares of the company’s stock worth $57,000 after acquiring an additional 2,090 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Paramount Global by 5.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,953 shares of the company’s stock valued at $239,000 after acquiring an additional 537 shares in the last quarter. SageView Advisory Group LLC acquired a new position in shares of Paramount Global in the 4th quarter valued at about $284,000. Finally, Welch Group LLC purchased a new stake in shares of Paramount Global in the second quarter worth approximately $298,000. 5.98% of the stock is owned by institutional investors.

Paramount Global Stock Down 0.4 %

PARAA opened at $21.88 on Friday. The company has a market capitalization of $14.28 billion, a PE ratio of -145.87 and a beta of 1.66. The business has a 50-day moving average of $22.33 and a 200-day moving average of $21.60. Paramount Global has a fifty-two week low of $13.40 and a fifty-two week high of $26.34. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.30 and a quick ratio of 1.15.

Paramount Global (NASDAQ:PARAA) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.36. The firm had revenue of $6.81 billion during the quarter, compared to analysts’ expectations of $7.55 billion. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. Equities research analysts forecast that Paramount Global will post 1.96 EPS for the current fiscal year.

Paramount Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Monday, December 16th. Paramount Global’s dividend payout ratio is currently -133.33%.

Paramount Global 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.