Paramount Global (NASDAQ:PARAA) Sees Large Volume Increase – What’s Next?

Paramount Global (NASDAQ:PARAAGet Free Report) shares saw an uptick in trading volume on Wednesday . 46,386 shares traded hands during 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 Performance

The company’s fifty day moving average price is $22.61 and its two-hundred day moving average price is $22.32. The firm has a market capitalization of $15.15 billion, a PE ratio of -2.76 and a beta of 1.63. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27.

Paramount Global (NASDAQ:PARAAGet Free Report) last released its quarterly earnings data on Friday, November 8th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.40 by $0.09. The company had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.87 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. During the same period last year, the company posted $0.30 earnings per share. As a group, equities analysts expect that Paramount Global will post 2.25 earnings per share for the current year.

Institutional Trading of Paramount Global

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Guardian Investment Management acquired a new position in Paramount Global in the fourth quarter valued at approximately $963,000. Geode Capital Management LLC raised its position 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 buying an additional 35,305 shares in the last quarter. State Street Corp lifted its stake in shares of Paramount Global by 20.2% in the 3rd quarter. State Street Corp now owns 49,366 shares of the company’s stock worth $1,082,000 after acquiring an additional 8,287 shares during the period. Atom Investors LP bought a new position in shares of Paramount Global in the third quarter valued at approximately $244,000. Finally, Slotnik Capital LLC bought a new stake in Paramount Global during the third quarter worth approximately $1,401,000. Institutional investors own 5.98% of the company’s stock.

About Paramount Global

(Get Free Report)

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 ChilevisiĆ³n; 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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