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

Tower Research Capital LLC TRC cut its stake in shares of Paramount Global (NASDAQ:PARAA) by 63.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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 reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James & Associates bought a new stake in shares of Paramount Global during the fourth quarter valued at about $205,000. SageView Advisory Group LLC bought a new position in shares of Paramount Global in the fourth quarter worth approximately $284,000. Allspring Global Investments Holdings LLC increased its position 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. B. Riley Wealth Advisors Inc. increased its position 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. Finally, GABELLI & Co INVESTMENT ADVISERS INC. increased its position 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. 5.98% of the stock is currently owned by institutional investors.

Paramount Global Price Performance

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

Paramount Global (NASDAQ:PARAA) last issued its quarterly earnings results on Wednesday, February 28th. The company reported 0.04 EPS for the quarter, missing analysts’ consensus estimates of 0.08 by -0.04. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.35%. 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 business earned $0.08 earnings per share. As a group, analysts predict that Paramount Global will post 1.37 EPS for the current fiscal year.

Paramount Global Dividend Announcement

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

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.