Short Interest in Paramount Global (NASDAQ:PARAA) Drops By 14.4%

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 short-interest ratio is presently 9.3 days. Currently, 3.2% of the company’s stock are sold short.

Paramount Global Stock Down 0.3 %

PARAA stock traded down $0.08 on Thursday, reaching $22.68. 2,756 shares of the company traded hands, compared to its average volume of 54,398. The firm has a fifty day simple moving average of $22.65 and a 200-day simple moving average of $22.38. The company has a market cap of $15.12 billion, a P/E 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 company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10.

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 the consensus estimate of $0.16 by ($0.27). The company had revenue of $7.98 billion for the quarter, compared to the consensus estimate of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. Research analysts anticipate that Paramount Global will post 2.25 earnings per share for the current year.

Paramount Global Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be paid 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 is presently -2.15%.

Institutional Investors Weigh In On Paramount Global

Institutional investors and hedge funds have recently made changes to their positions in the company. Quest Partners LLC purchased a new position in Paramount Global in the 3rd quarter worth about $106,000. Slotnik Capital LLC purchased a new position in shares of Paramount Global during the third quarter valued at approximately $1,401,000. Atom Investors LP purchased a new position in shares of Paramount Global during the third quarter valued at approximately $244,000. State Street Corp lifted its position in Paramount Global by 20.2% during the third quarter. State Street Corp now owns 49,366 shares of the company’s stock valued at $1,082,000 after purchasing an additional 8,287 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Paramount Global by 16.7% in the third quarter. Geode Capital Management LLC now owns 247,015 shares of the company’s stock worth $5,400,000 after purchasing an additional 35,305 shares during the last quarter. 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.