AQR Arbitrage LLC Acquires Shares of 59,877 Paramount Global (NASDAQ:PARAA)

AQR Arbitrage LLC bought a new position in Paramount Global (NASDAQ:PARAA) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 59,877 shares of the company’s stock, valued at approximately $1,335,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Mariner LLC grew its holdings in Paramount Global by 10.0% in the fourth quarter. Mariner LLC now owns 15,657 shares of the company’s stock worth $349,000 after purchasing an additional 1,425 shares during the period. Northern Trust Corp boosted its position in shares of Paramount Global by 98.1% in the 4th quarter. Northern Trust Corp now owns 35,264 shares of the company’s stock worth $786,000 after purchasing an additional 17,461 shares in the last quarter. Guardian Investment Management bought a new stake in shares of Paramount Global in the 4th quarter worth approximately $963,000. State Street Corp grew its stake in shares of Paramount Global by 20.2% in the 3rd quarter. State Street Corp now owns 49,366 shares of the company’s stock worth $1,082,000 after buying an additional 8,287 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Paramount Global by 450.7% during the 4th quarter. Bank of New York Mellon Corp now owns 124,832 shares of the company’s stock valued at $2,784,000 after buying an additional 102,165 shares in the last quarter. Hedge funds and other institutional investors own 5.98% of the company’s stock.

Paramount Global Trading Up 0.2 %

Paramount Global stock opened at $22.70 on Friday. Paramount Global has a 12 month low of $16.59 and a 12 month high of $26.34. The company has a market capitalization of $15.14 billion, a price-to-earnings ratio of -2.76 and a beta of 1.33. The business’s fifty day simple moving average is $22.62 and its two-hundred day simple moving average is $22.52. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85.

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

Paramount Global Dividend Announcement

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

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.