Stock Traders Buy High Volume of Paramount Global Put Options (NASDAQ:PARA)

Paramount Global (NASDAQ:PARA) was the recipient of unusually large options trading activity on Thursday. Traders acquired 23,302 put options on the stock. This represents an increase of approximately 50% compared to the typical volume of 15,539 put options.

Analyst Ratings Changes

Several research analysts have commented on PARA shares. Macquarie reissued an “underperform” rating and issued a $10.00 price target on shares of Paramount Global in a report on Monday, November 11th. Guggenheim decreased their price target on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Needham & Company LLC reissued a “hold” rating on shares of Paramount Global in a report on Monday, November 11th. Finally, StockNews.com upgraded shares of Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Seven analysts have rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, Paramount Global has an average rating of “Hold” and a consensus price target of $12.43.

Paramount Global Trading Up 1.1 %

Paramount Global stock opened at $10.58 on Friday. Paramount Global has a 12 month low of $9.54 and a 12 month high of $15.70. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The business’s fifty day simple moving average is $10.85 and its two-hundred day simple moving average is $10.75. The company has a market capitalization of $7.06 billion, a price-to-earnings ratio of -1.29, a price-to-earnings-growth ratio of 1.35 and a beta of 1.71.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings data on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.25. The business had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.94 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. Paramount Global’s revenue was down 5.6% compared to the same quarter last year. During the same period last year, the business earned $0.30 EPS. As a group, equities analysts predict that Paramount Global will post 1.86 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Paramount Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. State Street Corp raised its stake in shares of Paramount Global by 18.4% in the third quarter. State Street Corp now owns 44,154,027 shares of the company’s stock worth $470,695,000 after purchasing an additional 6,848,037 shares during the last quarter. Lingotto Investment Management LLP raised its position in Paramount Global by 628.8% in the 2nd quarter. Lingotto Investment Management LLP now owns 29,937,007 shares of the company’s stock worth $311,046,000 after buying an additional 25,829,185 shares during the last quarter. Geode Capital Management LLC lifted its stake in Paramount Global by 12.1% during the 3rd quarter. Geode Capital Management LLC now owns 14,842,966 shares of the company’s stock valued at $157,168,000 after acquiring an additional 1,606,779 shares during the period. Ariel Investments LLC grew its stake in shares of Paramount Global by 16.5% in the second quarter. Ariel Investments LLC now owns 14,042,265 shares of the company’s stock worth $145,899,000 after acquiring an additional 1,992,576 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Paramount Global by 16.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,394,825 shares of the company’s stock valued at $78,533,000 after purchasing an additional 1,030,592 shares during the last quarter. 73.00% of the stock is owned by institutional investors.

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.