Paramount Global (NASDAQ:PARAA) Short Interest Update

Paramount Global (NASDAQ:PARAA) saw a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 288,800 shares, a decrease 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. Currently, 3.2% of the company’s shares are sold short.

Paramount Global Trading Down 0.3 %

Shares of NASDAQ:PARAA traded down $0.08 during midday trading on Thursday, hitting $22.68. 2,756 shares of the stock traded hands, compared to its average volume of 54,398. 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 has a market capitalization of $15.12 billion, a PE ratio of -2.76 and a beta of 1.57. Paramount Global has a one year low of $16.59 and a one year high of $26.34. The business’s 50 day moving average is $22.65 and its two-hundred day moving average is $22.38.

Paramount Global (NASDAQ:PARAA) last released its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $7.98 billion during the quarter, compared to analysts’ expectations of $8.07 billion. As a group, research analysts forecast that Paramount Global will post 2.25 earnings per share for the current year.

Paramount Global Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date of this dividend is Monday, March 17th. Paramount Global’s payout ratio is currently -2.15%.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. GABELLI & Co INVESTMENT ADVISERS INC. boosted its position in shares of Paramount Global by 1,152.0% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 125,200 shares of the company’s stock valued at $2,792,000 after purchasing an additional 115,200 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Paramount Global by 450.7% during the fourth quarter. Bank of New York Mellon Corp now owns 124,832 shares of the company’s stock valued at $2,784,000 after buying an additional 102,165 shares during the period. Millennium Management LLC boosted its holdings in shares of Paramount Global by 41.2% during the 4th quarter. Millennium Management LLC now owns 230,283 shares of the company’s stock valued at $5,135,000 after buying an additional 67,177 shares in the last quarter. Slotnik Capital LLC purchased a new stake in shares of Paramount Global in the 3rd quarter worth about $1,401,000. Finally, AQR Arbitrage LLC bought a new position in shares of Paramount Global in the 4th quarter worth about $1,335,000. 5.98% of the stock is currently owned by 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.