Paramount Global (NASDAQ:PARAA) Trading 3.7% Higher

Paramount Global (NASDAQ:PARAA)’s share price rose 3.7% during trading on Tuesday . The stock traded as high as 18.61 and last traded at 18.58. Approximately 60,553 shares were traded during mid-day trading, a decline of 19% from the average daily volume of 74,939 shares. The stock had previously closed at 17.92.

Analyst Upgrades and Downgrades

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

Paramount Global Trading Up 4.0 %

The company has a debt-to-equity ratio of 0.65, a current ratio of 1.29 and a quick ratio of 1.19. The business has a 50-day moving average of 20.50 and a 200 day moving average of 20.79.

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

Paramount Global Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 1st. Shareholders of record on Monday, June 17th were paid a dividend of $0.05 per share. The ex-dividend date was Monday, June 17th. This represents a $0.20 annualized dividend and a yield of 1.00%. Paramount Global’s payout ratio is currently -133.32%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. B. Riley Wealth Advisors Inc. boosted its holdings in shares of Paramount Global by 29.5% in the third quarter. B. Riley Wealth Advisors Inc. now owns 35,160 shares of the company’s stock valued at $557,000 after purchasing an additional 8,007 shares during the period. Raymond James & Associates purchased a new stake in Paramount Global during the fourth quarter worth $205,000. Ninety One UK Ltd purchased a new stake in Paramount Global during the fourth quarter worth $3,421,000. SageView Advisory Group LLC purchased a new stake in Paramount Global during the fourth quarter worth $284,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. lifted its holdings in Paramount Global by 8.8% during the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 81,700 shares of the company’s stock worth $1,606,000 after buying an additional 6,600 shares during the period. 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.