Investors Buy Large Volume of Paramount Global Call Options (NASDAQ:PARA)

Paramount Global (NASDAQ:PARA) was the recipient of unusually large options trading on Wednesday. Traders purchased 45,022 call options on the stock. This represents an increase of approximately 191% compared to the average volume of 15,474 call options.

Institutional Trading of Paramount Global

Institutional investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its holdings in shares of Paramount Global by 16.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company’s stock valued at $78,533,000 after acquiring an additional 1,030,592 shares during the period. Bridgewater Associates LP lifted its holdings in Paramount Global by 50.7% in the third quarter. Bridgewater Associates LP now owns 328,099 shares of the company’s stock worth $3,484,000 after purchasing an additional 110,357 shares during the period. Franklin Resources Inc. lifted its holdings in Paramount Global by 824.1% in the third quarter. Franklin Resources Inc. now owns 195,690 shares of the company’s stock worth $2,029,000 after purchasing an additional 174,514 shares during the period. Wilsey Asset Management Inc. lifted its holdings in Paramount Global by 16.2% in the fourth quarter. Wilsey Asset Management Inc. now owns 1,902,332 shares of the company’s stock worth $19,898,000 after purchasing an additional 265,408 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in Paramount Global by 22.3% in the third quarter. Principal Financial Group Inc. now owns 683,401 shares of the company’s stock worth $7,258,000 after purchasing an additional 124,740 shares during the period. Institutional investors own 73.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. Macquarie reissued an “underperform” rating and set a $10.00 price objective on shares of Paramount Global in a research report on Monday, November 11th. StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Finally, Morgan Stanley boosted their price target on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research note on Tuesday, February 4th. Six investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $12.58.

Paramount Global Trading Down 2.7 %

PARA stock traded down $0.31 during midday trading on Wednesday, reaching $11.20. 5,039,113 shares of the company’s stock traded hands, compared to its average volume of 8,918,466. The company has a market capitalization of $7.47 billion, a P/E ratio of -1.36, a PEG ratio of 1.68 and a beta of 1.69. 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 has a fifty-two week low of $9.54 and a fifty-two week high of $14.54. The business has a 50-day moving average price of $10.77 and a two-hundred day moving average price of $10.73.

Paramount Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Monday, March 17th will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, March 17th. This represents a $0.20 annualized dividend and a yield of 1.79%. Paramount Global’s payout ratio is -2.43%.

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.