Short Interest in Paramount Global (NASDAQ:PARAA) Decreases By 19.8%

Paramount Global (NASDAQ:PARAA) was the recipient of a significant decline in short interest during the month of December. As of December 31st, there was short interest totalling 409,200 shares, a decline of 19.8% from the December 15th total of 510,200 shares. Based on an average daily trading volume, of 40,600 shares, the days-to-cover ratio is presently 10.1 days. Approximately 4.6% of the shares of the stock are short sold.

Hedge Funds Weigh In On Paramount Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Mark Asset Management LP acquired a new position in Paramount Global in the 2nd quarter valued at approximately $3,351,000. Slotnik Capital LLC purchased a new position in Paramount Global in the third quarter valued at about $1,401,000. Guardian Investment Management acquired a new position in Paramount Global in the 4th quarter worth about $963,000. Geode Capital Management LLC raised its stake in shares of Paramount Global by 16.7% during the 3rd quarter. Geode Capital Management LLC now owns 247,015 shares of the company’s stock worth $5,400,000 after purchasing an additional 35,305 shares in the last quarter. Finally, Squarepoint Ops LLC lifted its holdings in shares of Paramount Global by 120.0% during the 2nd quarter. Squarepoint Ops LLC now owns 46,749 shares of the company’s stock valued at $859,000 after buying an additional 25,504 shares during the last quarter. 5.98% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Global Price Performance

NASDAQ PARAA opened at $22.64 on Friday. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. Paramount Global has a 1 year low of $16.59 and a 1 year high of $26.34. The company has a market cap of $15.10 billion, a PE ratio of -2.75 and a beta of 1.63. The stock’s 50-day moving average price is $22.58 and its two-hundred day moving average price is $22.25.

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.