Paramount Global (NASDAQ:PARAA) Short Interest Down 23.9% in March

Paramount Global (NASDAQ:PARAA) saw a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 204,500 shares, a drop of 23.9% from the March 15th total of 268,600 shares. Based on an average daily volume of 22,400 shares, the short-interest ratio is presently 9.1 days. Approximately 2.3% of the shares of the company are sold short.

Institutional Trading of Paramount Global

A number of large investors have recently added to or reduced their stakes in the business. State of Wyoming increased its position in shares of Paramount Global by 97.9% in the fourth quarter. State of Wyoming now owns 4,788 shares of the company’s stock worth $107,000 after acquiring an additional 2,369 shares in the last quarter. Mariner LLC raised its stake in Paramount Global by 10.0% during the 4th quarter. Mariner LLC now owns 15,657 shares of the company’s stock valued at $349,000 after purchasing an additional 1,425 shares during the period. GAMMA Investing LLC boosted its position in shares of Paramount Global by 4,605.4% in the first quarter. GAMMA Investing LLC now owns 22,727 shares of the company’s stock worth $517,000 after buying an additional 22,244 shares during the period. Northern Trust Corp boosted its position in shares of Paramount Global by 98.1% in the fourth quarter. Northern Trust Corp now owns 35,264 shares of the company’s stock worth $786,000 after buying an additional 17,461 shares during the period. Finally, Central Pacific Bank Trust Division grew its holdings in shares of Paramount Global by 6.9% during the first quarter. Central Pacific Bank Trust Division now owns 38,500 shares of the company’s stock valued at $876,000 after buying an additional 2,500 shares in the last quarter. 5.98% of the stock is currently owned by institutional investors.

Paramount Global Price Performance

Shares of PARAA stock traded up $0.09 during midday trading on Monday, reaching $22.26. 11,012 shares of the company were exchanged, compared to its average volume of 51,019. Paramount Global has a 12 month low of $16.59 and a 12 month high of $26.34. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The company has a market cap of $14.85 billion, a P/E ratio of -2.71 and a beta of 1.33. The company’s 50 day moving average price is $22.67 and its two-hundred day moving average price is $22.49.

Paramount Global (NASDAQ:PARAA) last posted its quarterly earnings data on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $7.98 billion during the quarter, compared to the consensus estimate of $8.07 billion. On average, sell-side analysts expect that Paramount Global will post 2.25 earnings per share for the current year.

Paramount Global Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Monday, March 17th were issued a $0.05 dividend. The ex-dividend date was Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.90%. Paramount Global’s payout ratio is currently -2.15%.

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.