Tower Research Capital LLC TRC Sells 3,700 Shares of Paramount Global (NASDAQ:PARAA)

Tower Research Capital LLC TRC trimmed its holdings in shares of Paramount Global (NASDAQ:PARAA) by 63.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,137 shares of the company’s stock after selling 3,700 shares during the period. Tower Research Capital LLC TRC’s holdings in Paramount Global were worth $42,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of PARAA. Gamco Investors INC. ET AL increased its stake in 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 valued at $44,710,000 after purchasing an additional 197,114 shares in the last quarter. Ninety One UK Ltd bought a new stake in Paramount Global in the fourth quarter valued at approximately $3,421,000. GABELLI & Co INVESTMENT ADVISERS INC. increased its stake in Paramount Global by 25.2% in the third quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 75,100 shares of the company’s stock valued at $1,186,000 after purchasing an additional 15,100 shares in the last quarter. SageView Advisory Group LLC bought a new stake in shares of Paramount Global during the fourth quarter worth $284,000. Finally, Raymond James & Associates bought a new stake in shares of Paramount Global during the fourth quarter worth $205,000. 5.98% of the stock is owned by institutional investors.

Paramount Global Stock Up 21.6 %

Shares of PARAA stock traded up 4.64 during trading hours on Thursday, hitting 26.10. 255,300 shares of the company were exchanged, compared to its average volume of 75,479. The business has a 50 day moving average of 21.72 and a two-hundred day moving average of 19.72. The company has a current ratio of 1.29, a quick ratio of 1.17 and a debt-to-equity ratio of 0.65. Paramount Global has a 52 week low of 13.40 and a 52 week high of 26.67. The company has a market capitalization of $17.03 billion, a PE ratio of -155.46 and a beta of 1.66.

Paramount Global (NASDAQ:PARAA) last issued its quarterly earnings data 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 3.35% and a negative net margin of 0.15%. The company had revenue of 7.64 billion for the quarter, compared to the consensus estimate of 7.89 billion. During the same period in the prior year, the company earned $0.08 EPS. Analysts anticipate that Paramount Global will post 1.37 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.77%. The ex-dividend date is Monday, June 17th. Paramount Global’s dividend payout ratio is -133.32%.

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.