Paramount Global Target of Unusually Large Options Trading (NASDAQ:PARA)

Paramount Global (NASDAQ:PARA) was the recipient of some unusual options trading on Thursday. Stock investors acquired 29,149 put options on the company. This represents an increase of approximately 72% compared to the typical daily volume of 16,942 put options.

Paramount Global Price Performance

PARA opened at $11.93 on Friday. Paramount Global has a twelve month low of $9.54 and a twelve month high of $14.54. The firm has a market cap of $7.96 billion, a price-to-earnings ratio of -1.45, a PEG ratio of 1.68 and a beta of 1.60. 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 company has a fifty day simple moving average of $11.13 and a 200 day simple moving average of $10.83.

Paramount Global (NASDAQ:PARA) last announced its earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.29). The business had revenue of $7.98 billion for the quarter, compared to analyst estimates of $8.07 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. Equities research analysts expect that Paramount Global will post 1.77 EPS for the current fiscal year.

Paramount Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Monday, March 17th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 1.68%. The ex-dividend date of this dividend is Monday, March 17th. Paramount Global’s dividend payout ratio (DPR) is currently -2.15%.

Wall Street Analyst Weigh In

PARA has been the topic of a number of research reports. Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a report on Thursday, February 27th. Morgan Stanley increased their target price on shares of Paramount Global from $10.00 to $11.00 and gave the stock an “underweight” rating in a research report on Tuesday, February 4th. Benchmark reaffirmed a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research report on Thursday, February 27th. Finally, Guggenheim reissued a “buy” rating and issued a $14.00 price objective on shares of Paramount Global in a research report on Thursday, February 27th. Six investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Paramount Global has a consensus rating of “Hold” and an average target price of $12.10.

Institutional Trading of Paramount Global

Hedge funds have recently made changes to their positions in the stock. Ossiam grew its holdings in Paramount Global by 57.2% during the 4th quarter. Ossiam now owns 2,810 shares of the company’s stock worth $29,000 after acquiring an additional 1,022 shares in the last quarter. Allworth Financial LP grew its stake in Paramount Global by 140.1% in the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock worth $25,000 after purchasing an additional 1,395 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Paramount Global by 1.6% in the third quarter. PNC Financial Services Group Inc. now owns 92,019 shares of the company’s stock valued at $977,000 after buying an additional 1,481 shares during the last quarter. Huntington National Bank raised its stake in Paramount Global by 129.0% during the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock valued at $29,000 after buying an additional 1,561 shares in the last quarter. Finally, Treasurer of the State of North Carolina grew its position in shares of Paramount Global by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 260,198 shares of the company’s stock worth $2,722,000 after acquiring an additional 1,640 shares in the last quarter. Institutional investors and hedge funds own 73.00% 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.