Paramount Global Target of Unusually Large Options Trading (NASDAQ:PARA)

Paramount Global (NASDAQ:PARA) was the recipient of some unusual options trading on Thursday. Stock traders acquired 29,149 put options on the stock. This is an increase of approximately 72% compared to the average volume of 16,942 put options.

Hedge Funds Weigh In On Paramount Global

Institutional investors have recently added to or reduced their stakes in the business. Mattson Financial Services LLC bought a new stake in Paramount Global during the 4th quarter valued at $28,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Paramount Global during the fourth quarter valued at about $911,000. B. Riley Wealth Advisors Inc. increased its position in shares of Paramount Global by 24.7% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 12,695 shares of the company’s stock worth $133,000 after acquiring an additional 2,512 shares in the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of Paramount Global in the 4th quarter worth about $5,688,000. Finally, Waverly Advisors LLC bought a new position in Paramount Global in the 4th quarter valued at about $106,000. 73.00% of the stock is owned by institutional investors and hedge funds.

Paramount Global Price Performance

NASDAQ:PARA traded up $0.19 on Thursday, hitting $11.93. The company had a trading volume of 7,004,108 shares, compared to its average volume of 12,488,484. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. Paramount Global has a 52 week low of $9.54 and a 52 week high of $14.54. The stock has a market capitalization of $7.96 billion, a price-to-earnings ratio of -1.45, a PEG ratio of 1.68 and a beta of 1.60. The firm has a 50 day moving average of $11.10 and a two-hundred day moving average of $10.82.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.29). The company had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. On average, research analysts anticipate that Paramount Global will post 1.77 earnings per share for the current year.

Paramount Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Monday, March 17th. Paramount Global’s dividend payout ratio (DPR) is presently -2.15%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PARA. Morgan Stanley increased their price target on shares of Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Tuesday, February 4th. Guggenheim reiterated a “buy” rating and issued a $14.00 price objective on shares of Paramount Global in a report on Thursday, February 27th. Benchmark reissued a “buy” rating and set a $19.00 price target on shares of Paramount Global in a report on Thursday, February 27th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. Six investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $12.10.

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.