Paramount Global (NASDAQ:PARAA) Trading Down 4.2%

Paramount Global (NASDAQ:PARAA)’s share price dropped 4.2% during mid-day trading on Monday . The company traded as low as 21.36 and last traded at 21.42. Approximately 64,271 shares were traded 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 Stock Performance

The firm has a market capitalization of $14.02 billion, a P/E ratio of -21.85 and a beta of 1.67. The company’s 50 day moving average is 21.72 and its 200-day moving average is 19.62. The company has a quick ratio of 1.17, a current ratio of 1.32 and a debt-to-equity ratio of 0.63.

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 analysts’ consensus estimates of 0.08 by -0.04. The company had revenue of 7.64 billion for the quarter, compared to the consensus estimate 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 period last year, the company earned $0.08 EPS. As a group, equities analysts anticipate that Paramount Global will post 1.37 EPS for the current year.

Paramount Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.93%. The ex-dividend date is Monday, June 17th. Paramount Global’s dividend payout ratio (DPR) is presently -19.61%.

Hedge Funds Weigh In On Paramount Global

A number of hedge funds and other institutional investors have recently made changes to their positions in PARAA. Allspring Global Investments Holdings LLC lifted its position in shares of Paramount Global by 31.9% during the third quarter. Allspring Global Investments Holdings LLC now owns 31,737 shares of the company’s stock worth $501,000 after acquiring an additional 7,670 shares in the last quarter. Gamco Investors INC. ET AL raised its holdings in shares of Paramount Global by 7.5% during 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 buying an additional 197,114 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. lifted 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 acquiring an additional 15,100 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its holdings in shares of Paramount Global by 29.5% in the third quarter. B. Riley Wealth Advisors Inc. now owns 35,160 shares of the company’s stock worth $557,000 after purchasing an additional 8,007 shares during the last quarter. Finally, Raymond James & Associates purchased a new position in Paramount Global during the 4th quarter valued at about $205,000. 5.98% of the stock is 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.