Pentwater Capital Management LP Sells 1,041 Shares of Paramount Global (NASDAQ:PARAA)

Pentwater Capital Management LP lessened its stake in Paramount Global (NASDAQ:PARAA) by 14.8% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,000 shares of the company’s stock after selling 1,041 shares during the quarter. Pentwater Capital Management LP’s holdings in Paramount Global were worth $134,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of PARAA. GABELLI & Co INVESTMENT ADVISERS INC. raised its holdings in shares of Paramount Global by 1,152.0% in the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 125,200 shares of the company’s stock valued at $2,792,000 after acquiring an additional 115,200 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Paramount Global by 450.7% in the fourth quarter. Bank of New York Mellon Corp now owns 124,832 shares of the company’s stock valued at $2,784,000 after purchasing an additional 102,165 shares during the period. Guardian Investment Management acquired a new stake in shares of Paramount Global in the fourth quarter worth approximately $963,000. Geode Capital Management LLC raised its position in Paramount Global by 16.7% in the third quarter. Geode Capital Management LLC now owns 247,015 shares of the company’s stock valued at $5,400,000 after purchasing an additional 35,305 shares during the period. Finally, Gamco Investors INC. ET AL raised its holdings in shares of Paramount Global by 0.9% in the 4th quarter. Gamco Investors INC. ET AL now owns 2,718,711 shares of the company’s stock valued at $60,627,000 after buying an additional 25,444 shares during the period. Hedge funds and other institutional investors own 5.98% of the company’s stock.

Paramount Global Trading Up 0.1 %

NASDAQ:PARAA opened at $22.60 on Tuesday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. Paramount Global has a 1 year low of $16.59 and a 1 year high of $26.34. The stock has a 50-day simple moving average of $22.63 and a 200-day simple moving average of $22.52. The stock has a market cap of $15.07 billion, a P/E ratio of -2.75 and a beta of 1.33.

Paramount Global (NASDAQ:PARAA) last announced its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.27). The firm had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. As a group, analysts anticipate that Paramount Global will post 2.25 earnings per share for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, March 17th. This represents a $0.20 annualized dividend and a dividend yield of 0.88%. Paramount Global’s payout ratio is -2.15%.

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.