Traders Purchase Large Volume of Put Options on Paramount Global (NASDAQ:PARA)

Paramount Global (NASDAQ:PARA - Get Free Report) was the target of unusually large options trading on Thursday. Investors acquired 29,149 put options on the stock. This is an increase of 72% compared to the typical volume of 16,942 put options.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Paramount Global by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 67,040,366 shares of the company's stock worth $701,242,000 after buying an additional 761,561 shares in the last quarter. Lingotto Investment Management LLP raised its holdings in Paramount Global by 3.7% in the fourth quarter. Lingotto Investment Management LLP now owns 44,753,299 shares of the company's stock worth $468,120,000 after purchasing an additional 1,593,579 shares during the period. State Street Corp lifted its holdings in Paramount Global by 18.4% during the third quarter. State Street Corp now owns 44,154,027 shares of the company's stock worth $470,695,000 after acquiring an additional 6,848,037 shares in the last quarter. Invesco Ltd. grew its position in shares of Paramount Global by 5.7% in the 4th quarter. Invesco Ltd. now owns 20,593,954 shares of the company's stock valued at $215,413,000 after purchasing an additional 1,119,314 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Paramount Global by 4.9% during the fourth quarter. Geode Capital Management LLC now owns 15,567,531 shares of the company's stock worth $162,731,000 after acquiring an additional 724,565 shares in the last quarter. Institutional investors own 73.00% of the company's stock.

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Paramount Global Stock Down 1.9 %

NASDAQ PARA traded down $0.22 during trading on Monday, reaching $11.64. 8,702,962 shares of the company's stock were exchanged, compared to its average volume of 12,300,032. The company's fifty day simple moving average is $11.16 and its 200-day simple moving average is $10.84. The firm has a market capitalization of $7.76 billion, a PE ratio of -1.42, a P/E/G ratio of 1.68 and a beta of 1.60. Paramount Global has a fifty-two week low of $9.54 and a fifty-two week high of $14.54. 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 (NASDAQ:PARA - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.29). The company 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%. Sell-side analysts predict that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.20 annualized dividend and a yield of 1.72%. Paramount Global's dividend payout ratio (DPR) is currently -2.15%.

Wall Street Analyst Weigh In

PARA has been the subject of several research reports. Benchmark reiterated a "buy" rating and set a $19.00 price objective on shares of Paramount Global in a research note on Thursday, February 27th. Guggenheim reiterated a "buy" rating and issued a $14.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Morgan Stanley upped their target price on Paramount Global from $10.00 to $11.00 and gave the company an "underweight" rating in a research report on Tuesday, February 4th. StockNews.com began coverage on Paramount Global in a report on Saturday. They set a "hold" rating for the company. Finally, Needham & Company LLC reaffirmed a "hold" rating on shares of Paramount Global in a report on Thursday, February 27th. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $12.10.

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.