Paramount Global (NASDAQ:PARAA) Short Interest Update

Paramount Global (NASDAQ:PARAA) was the target of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 288,800 shares, a drop of 14.4% from the February 13th total of 337,400 shares. Currently, 3.2% of the shares of the stock are sold short. Based on an average daily volume of 31,200 shares, the days-to-cover ratio is presently 9.3 days.

Paramount Global Stock Up 0.1 %

Shares of PARAA stock traded up $0.03 on Wednesday, hitting $22.75. The stock had a trading volume of 20,131 shares, compared to its average volume of 54,590. Paramount Global has a one year low of $16.59 and a one year high of $26.34. The business has a 50 day moving average price of $22.64 and a 200 day moving average price of $22.37. The company has a market cap of $15.17 billion, a PE ratio of -2.77 and a beta of 1.57. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85.

Paramount Global (NASDAQ:PARAA) last issued its quarterly earnings data 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). Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. The firm had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $8.07 billion. Research analysts anticipate that Paramount Global will post 2.25 earnings per share for the current fiscal year.

Paramount Global Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Monday, March 17th. Paramount Global’s dividend payout ratio is presently -2.15%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. GABELLI & Co INVESTMENT ADVISERS INC. boosted its position in Paramount Global by 1,152.0% in the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 125,200 shares of the company’s stock valued at $2,792,000 after buying an additional 115,200 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Paramount Global by 450.7% in the fourth quarter. Bank of New York Mellon Corp now owns 124,832 shares of the company’s stock worth $2,784,000 after buying an additional 102,165 shares during the last quarter. Millennium Management LLC grew its holdings in Paramount Global by 41.2% during the fourth quarter. Millennium Management LLC now owns 230,283 shares of the company’s stock worth $5,135,000 after acquiring an additional 67,177 shares during the period. Slotnik Capital LLC acquired a new position in Paramount Global in the third quarter valued at approximately $1,401,000. Finally, AQR Arbitrage LLC purchased a new position in shares of Paramount Global during the 4th quarter valued at approximately $1,335,000. Hedge funds and other institutional investors own 5.98% of the company’s stock.

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.