Paramount Global (NASDAQ:PARAA) Sees Large Decrease in Short Interest

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

Paramount Global Stock Down 0.0 %

Shares of Paramount Global stock opened at $22.74 on Friday. Paramount Global has a 12-month low of $16.59 and a 12-month high of $26.34. The firm has a market capitalization 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. The stock’s fifty day moving average is $22.65 and its 200-day moving average is $22.38.

Paramount Global (NASDAQ:PARAA) last issued its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share 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 company had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $8.07 billion. Equities analysts anticipate that Paramount Global will post 2.25 earnings per share for the current year.

Paramount Global Announces Dividend

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

Hedge Funds Weigh In On Paramount Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Wyoming lifted its holdings in shares of Paramount Global by 97.9% in the fourth quarter. State of Wyoming now owns 4,788 shares of the company’s stock valued at $107,000 after purchasing an additional 2,369 shares in the last quarter. Quest Partners LLC acquired a new stake in Paramount Global during the 3rd quarter worth about $106,000. Atom Investors LP purchased a new position in Paramount Global during the 3rd quarter valued at about $244,000. Mariner LLC increased its stake in Paramount Global by 10.0% in the 4th quarter. Mariner LLC now owns 15,657 shares of the company’s stock valued at $349,000 after buying an additional 1,425 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Paramount Global by 98.1% in the fourth quarter. Northern Trust Corp now owns 35,264 shares of the company’s stock worth $786,000 after acquiring an additional 17,461 shares during the last quarter. 5.98% of the stock is currently owned by hedge funds and other institutional investors.

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.