Paramount Global (NASDAQ:PARAA) Sees Large Volume Increase - What's Next?

Key Points

• Paramount Global experienced a significant increase in trading volume, with 80,208 shares traded, a 227% rise compared to the previous session.
• The company reported earnings per share of $0.29, which missed analysts' estimates of $0.39, and had a negative net margin of 19.09%.
• Paramount Global announced a quarterly dividend of $0.05 per share, translating to an annualized dividend yield of 0.86%.
• Recent institutional investments included Vanguard Personalized Indexing Management LLC acquiring a new position in Paramount Global, indicating growing institutional interest.

Paramount Global (NASDAQ:PARAA - Get Free Report) shares saw unusually-high trading volume on Friday . Approximately 80,208 shares changed hands during mid-day trading, an increase of 227% from the previous session's volume of 24,545 shares.The stock last traded at $23.13 and had previously closed at $23.17.

Paramount Global Price Performance

The firm has a market capitalization of $15.68 billion, a price-to-earnings ratio of 19.17 and a beta of 1.29. The company has a fifty day moving average price of $22.83 and a two-hundred day moving average price of $22.70. The company has a quick ratio of 1.18, a current ratio of 1.29 and a debt-to-equity ratio of 0.84.

Paramount Global (NASDAQ:PARAA - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.29 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.10). The firm had revenue of $7.19 billion during the quarter, compared to analyst estimates of $7.14 billion. Paramount Global had a negative net margin of 19.09% and a positive return on equity of 4.80%. On average, equities research analysts expect that Paramount Global will post 2.25 EPS for the current fiscal year.

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Stockholders of record on Monday, June 16th were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend was Monday, June 16th. Paramount Global's dividend payout ratio (DPR) is presently -2.43%.

Institutional Investors Weigh In On Paramount Global

Several large investors have recently modified their holdings of the stock. Gamco Investors INC. ET AL raised its stake in shares of Paramount Global by 0.4% during the first quarter. Gamco Investors INC. ET AL now owns 2,729,928 shares of the company's stock worth $62,106,000 after purchasing an additional 11,217 shares during the last quarter. Gabelli Funds LLC raised its position in Paramount Global by 0.9% in the first quarter. Gabelli Funds LLC now owns 1,850,097 shares of the company's stock worth $42,090,000 after acquiring an additional 16,514 shares in the last quarter. Geode Capital Management LLC raised its position in Paramount Global by 11.6% in the fourth quarter. Geode Capital Management LLC now owns 275,630 shares of the company's stock worth $6,147,000 after acquiring an additional 28,615 shares in the last quarter. Poehling Capital Management INC. raised its position in Paramount Global by 8.3% in the first quarter. Poehling Capital Management INC. now owns 243,714 shares of the company's stock worth $5,544,000 after acquiring an additional 18,758 shares in the last quarter. Finally, Millennium Management LLC raised its position in Paramount Global by 41.2% in the fourth quarter. Millennium Management LLC now owns 230,283 shares of the company's stock worth $5,135,000 after acquiring an additional 67,177 shares in the last quarter. Hedge funds and other institutional investors own 5.98% of the company's stock.

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.