Ninety One UK Ltd Takes $3.42 Million Position in Paramount Global (NASDAQ:PARAA)

Ninety One UK Ltd bought a new stake in Paramount Global (NASDAQ:PARAA) during the 4th quarter, HoldingsChannel reports. The fund bought 174,020 shares of the company’s stock, valued at approximately $3,421,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PARAA. Gamco Investors INC. ET AL grew its holdings in shares of Paramount Global by 7.5% in the third quarter. Gamco Investors INC. ET AL now owns 2,831,528 shares of the company’s stock worth $44,710,000 after purchasing an additional 197,114 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of Paramount Global by 29.5% in the third quarter. B. Riley Wealth Advisors Inc. now owns 35,160 shares of the company’s stock worth $557,000 after purchasing an additional 8,007 shares during the last quarter. Gladius Capital Management LP bought a new position in shares of Paramount Global in the third quarter worth about $328,000. GABELLI & Co INVESTMENT ADVISERS INC. grew its holdings in shares of Paramount Global by 25.2% in the third quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 75,100 shares of the company’s stock worth $1,186,000 after purchasing an additional 15,100 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Paramount Global by 31.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 31,737 shares of the company’s stock worth $501,000 after purchasing an additional 7,670 shares during the last quarter. Hedge funds and other institutional investors own 5.98% of the company’s stock.

Paramount Global Price Performance

Shares of Paramount Global stock opened at 21.41 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63. Paramount Global has a 1 year low of 13.40 and a 1 year high of 27.23. The firm’s 50-day moving average is 21.62 and its two-hundred day moving average is 19.23.

Paramount Global (NASDAQ:PARAA) last issued its earnings results on Wednesday, February 28th. The company reported 0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of 0.08 by -0.04. Paramount Global had a positive return on equity of 1.78% and a negative net margin of 2.05%. The business had revenue of 7.64 billion for the quarter, compared to the consensus estimate of 7.89 billion. During the same quarter in the previous year, the company earned $0.08 earnings per share. As a group, sell-side analysts anticipate that Paramount Global will post 1.37 EPS for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders 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 yield of 0.93%. The ex-dividend date of this dividend is Monday, June 17th. Paramount Global’s payout ratio is -19.61%.

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.