Paramount Global (NASDAQ:PARAA) Stock Price Up 6.2%

Paramount Global (NASDAQ:PARAA)’s share price shot up 6.2% during trading on Monday . The company traded as high as 23.98 and last traded at 23.80. 62,196 shares were traded during mid-day trading, a decline of 19% from the average session volume of 76,994 shares. The stock had previously closed at 22.42.

Analyst Ratings Changes

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

Paramount Global Trading Up 4.3 %

The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.19 and a current ratio of 1.29. The stock has a market cap of $15.26 billion, a P/E ratio of -159.86 and a beta of 1.66. The stock has a 50-day moving average price of 21.87 and a 200-day moving average price of 19.88.

Paramount Global (NASDAQ:PARAA) last issued its quarterly earnings results on Wednesday, February 28th. The company reported 0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of 0.08 by -0.04. The firm had revenue of 7.64 billion for the quarter, compared to the consensus estimate of 7.89 billion. Paramount Global had a positive return on equity of 3.35% and a negative net margin of 0.15%. During the same period last year, the firm earned $0.08 EPS. On average, equities research analysts expect that Paramount Global will post 1.25 EPS for the current year.

Paramount Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Monday, June 17th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, June 17th. This represents a $0.20 dividend on an annualized basis and a yield of 0.86%. Paramount Global’s dividend payout ratio is currently -133.32%.

Institutional Trading of Paramount Global

Several large investors have recently modified their holdings of PARAA. Allspring Global Investments Holdings LLC raised its holdings in Paramount Global by 5.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,953 shares of the company’s stock worth $239,000 after purchasing an additional 537 shares in the last quarter. GAMMA Investing LLC raised its holdings in Paramount Global by 708.2% in the first quarter. GAMMA Investing LLC now owns 1,285 shares of the company’s stock worth $28,000 after purchasing an additional 1,126 shares in the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. lifted its position 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 valued at $1,606,000 after buying an additional 6,600 shares during the period. B. Riley Wealth Advisors Inc. grew its position in shares of Paramount Global by 29.5% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 35,160 shares of the company’s stock worth $557,000 after buying an additional 8,007 shares during the period. Finally, Raymond James & Associates purchased a new stake in shares of Paramount Global in the 4th quarter worth about $205,000. 5.98% of the stock is 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.