Paramount Global (NASDAQ:PARAA) Sees Large Volume Increase

Paramount Global (NASDAQ:PARAA) shares saw unusually-strong trading volume on Friday . Approximately 20,043 shares traded hands during trading, a decline of 74% from the previous session’s volume of 75,867 shares.The stock last traded at 20.81 and had previously closed at 20.10.

Analyst Upgrades and Downgrades

Separately, Seaport Res Ptn lowered Paramount Global from a “buy” rating to a “neutral” rating in a research report on Thursday, May 2nd.

Paramount Global Stock Up 0.1 %

The firm has a 50 day moving average price of 20.45 and a two-hundred day moving average price of 20.78. The company has a quick ratio of 1.19, a current ratio of 1.29 and a debt-to-equity ratio of 0.65. The company has a market capitalization of $13.13 billion, a price-to-earnings ratio of -134.00 and a beta of 1.68.

Paramount Global (NASDAQ:PARAA) last posted its quarterly earnings results on Monday, April 29th. The company reported 0.62 EPS for the quarter, topping analysts’ consensus estimates of 0.25 by 0.37. The business had revenue of 7.69 billion during the quarter, compared to the consensus estimate of 7.85 billion. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. As a group, sell-side analysts expect that Paramount Global will post 1.25 earnings per share for the current year.

Paramount Global Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 17th were paid a $0.05 dividend. The ex-dividend date was Monday, June 17th. This represents a $0.20 dividend on an annualized basis and a yield of 0.99%. Paramount Global’s payout ratio is currently -133.33%.

Hedge Funds Weigh In On Paramount Global

A number of hedge funds and other institutional investors have recently bought and sold shares of PARAA. Ninety One UK Ltd acquired a new position in Paramount Global in the fourth quarter valued at approximately $3,421,000. Poehling Capital Management INC. raised its holdings in shares of Paramount Global by 35.1% during the first quarter. Poehling Capital Management INC. now owns 393,293 shares of the company’s stock valued at $8,586,000 after buying an additional 102,132 shares during the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of Paramount Global by 2.6% during the first quarter. Gamco Investors INC. ET AL now owns 2,927,163 shares of the company’s stock valued at $63,900,000 after buying an additional 74,752 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Paramount Global by 11.3% during the first quarter. Vanguard Group Inc. now owns 682,998 shares of the company’s stock valued at $14,910,000 after buying an additional 69,084 shares during the last quarter. Finally, Honeycomb Asset Management LP bought a new stake in shares of Paramount Global during the fourth quarter valued at approximately $880,000. 5.98% of the stock is currently owned by institutional investors and hedge funds.

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.