Paramount Global (NASDAQ:PARAA) Sees Strong Trading Volume - Should You Buy?

Shares of Paramount Global (NASDAQ:PARAA - Get Free Report) saw an uptick in trading volume on Wednesday . 46,386 shares traded hands during mid-day trading, an increase of 30% from the previous session's volume of 35,794 shares.The stock last traded at $22.61 and had previously closed at $22.56.

Paramount Global Stock Up 0.6 %

The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The company has a market cap of $15.13 billion, a P/E ratio of -2.76 and a beta of 1.63. The stock has a 50 day moving average price of $22.60 and a 200 day moving average price of $22.32.

Paramount Global (NASDAQ:PARAA - Get Free Report) last released its earnings results on Friday, November 8th. The company reported $0.49 EPS for the quarter, topping analysts' consensus estimates of $0.40 by $0.09. The business had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.87 billion. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. During the same period in the previous year, the firm earned $0.30 EPS. Research analysts expect that Paramount Global will post 2.25 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Paramount Global

Hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp grew its stake in Paramount Global by 13.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 28,315 shares of the company's stock valued at $520,000 after acquiring an additional 3,281 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Paramount Global by 4.6% during the second quarter. Dimensional Fund Advisors LP now owns 143,261 shares of the company's stock valued at $2,633,000 after purchasing an additional 6,309 shares in the last quarter. Squarepoint Ops LLC grew its position in Paramount Global by 120.0% during the second quarter. Squarepoint Ops LLC now owns 46,749 shares of the company's stock valued at $859,000 after purchasing an additional 25,504 shares in the last quarter. Mark Asset Management LP purchased a new stake in Paramount Global in the 2nd quarter worth approximately $3,351,000. Finally, Gladius Capital Management LP purchased a new stake in Paramount Global in the 3rd quarter worth approximately $233,000. 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.

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