Paramount Global (NASDAQ:PARAA) Stock Price Down 5%

Shares of Paramount Global (NASDAQ:PARAA) fell 5% on Thursday . The stock traded as low as 20.87 and last traded at 20.87. 11,329 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 74,211 shares. The stock had previously closed at 21.97.

Wall Street Analyst Weigh In

Separately, Seaport Res Ptn downgraded Paramount Global from a “buy” rating to a “neutral” rating in a research note on Thursday, May 2nd.

Paramount Global Price Performance

The business has a fifty day moving average of 22.22 and a 200-day moving average of 20.55. The company has a current ratio of 1.29, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65. The firm has a market cap of $13.38 billion, a PE ratio of -137.59 and a beta of 1.66.

Paramount Global (NASDAQ:PARAA) last posted its earnings results on Monday, April 29th. The company reported 0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of 0.25 by 0.37. The business had revenue of 7.69 billion for the quarter, compared to analysts’ expectations of 7.85 billion. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.35%. As a group, research analysts predict that Paramount Global will post 1.25 earnings per share for the current year.

Paramount Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Monday, June 17th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.98%. The ex-dividend date is Monday, June 17th. Paramount Global’s dividend payout ratio (DPR) is currently -133.32%.

Hedge Funds Weigh In On Paramount Global

Several institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its stake in Paramount Global by 31.9% in the third quarter. Allspring Global Investments Holdings LLC now owns 31,737 shares of the company’s stock worth $501,000 after purchasing an additional 7,670 shares during the last quarter. Gamco Investors INC. ET AL increased its stake in shares of Paramount Global by 7.5% in the third quarter. Gamco Investors INC. ET AL now owns 2,831,528 shares of the company’s stock worth $44,710,000 after buying an additional 197,114 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. raised its holdings in Paramount Global by 25.2% during the 3rd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 75,100 shares of the company’s stock valued at $1,186,000 after buying an additional 15,100 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its position in Paramount Global by 29.5% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 35,160 shares of the company’s stock valued at $557,000 after buying an additional 8,007 shares during the period. Finally, Raymond James & Associates purchased a new position in shares of Paramount Global in the fourth quarter valued at about $205,000. 5.98% of the stock is currently owned by institutional investors.

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.