Paramount Global (NASDAQ:PARAA) Trading Down 4.2%

Paramount Global (NASDAQ:PARAA)’s share price was down 4.2% during trading on Monday . The company traded as low as 21.36 and last traded at 21.42. Approximately 64,271 shares traded hands during trading, a decline of 11% from the average daily volume of 72,617 shares. The stock had previously closed at 22.37.

Paramount Global Trading Down 4.0 %

The company has a current ratio of 1.32, a quick ratio of 1.17 and a debt-to-equity ratio of 0.63. The company has a fifty day simple moving average of 21.72 and a 200-day simple moving average of 19.62. The company has a market capitalization of $14.02 billion, a PE ratio of -21.85 and a beta of 1.67.

Paramount Global (NASDAQ:PARAA) last released 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. The firm had revenue of 7.64 billion for the quarter, compared to analyst estimates of 7.89 billion. Paramount Global had a positive return on equity of 1.78% and a negative net margin of 2.05%. During the same quarter in the previous year, the business posted $0.08 earnings per share. Analysts predict that Paramount Global will post 1.37 EPS for the current year.

Paramount Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Monday, June 17th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.20 dividend on an annualized basis and a yield of 0.93%. Paramount Global’s payout ratio is currently -19.61%.

Institutional Trading of Paramount Global

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Allspring Global Investments Holdings LLC increased its stake in Paramount Global by 31.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 31,737 shares of the company’s stock worth $501,000 after buying an additional 7,670 shares during the period. Gamco Investors INC. ET AL raised its position in Paramount Global by 7.5% in the 3rd 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. GABELLI & Co INVESTMENT ADVISERS INC. boosted its stake in shares of Paramount Global by 25.2% in the 3rd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 75,100 shares of the company’s stock valued at $1,186,000 after buying an additional 15,100 shares during the period. B. Riley Wealth Advisors Inc. increased its stake in shares of Paramount Global by 29.5% during the third quarter. B. Riley Wealth Advisors Inc. now owns 35,160 shares of the company’s stock worth $557,000 after buying an additional 8,007 shares during the period. Finally, Raymond James & Associates purchased a new stake in shares of Paramount Global during the 4th quarter worth $205,000. 5.98% of the stock is currently owned by hedge funds and other institutional investors.

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.