Traders Purchase High Volume of Call Options on Paramount Global (NASDAQ:PARA)

Paramount Global (NASDAQ:PARA) saw unusually large options trading activity on Friday. Stock investors purchased 37,709 call options on the company. This represents an increase of approximately 162% compared to the average daily volume of 14,402 call options.

Institutional Trading of Paramount Global

A number of institutional investors have recently made changes to their positions in the stock. SOL Capital Management CO lifted its stake in Paramount Global by 1.6% during the fourth quarter. SOL Capital Management CO now owns 180,604 shares of the company’s stock valued at $1,889,000 after purchasing an additional 2,830 shares during the last quarter. Synergy Asset Management LLC purchased a new stake in shares of Paramount Global in the 4th quarter valued at approximately $88,000. R Squared Ltd acquired a new position in Paramount Global in the 4th quarter valued at approximately $154,000. Perigon Wealth Management LLC increased its stake in Paramount Global by 7.0% in the 4th quarter. Perigon Wealth Management LLC now owns 28,821 shares of the company’s stock valued at $293,000 after buying an additional 1,874 shares during the period. Finally, Kingswood Wealth Advisors LLC increased its stake in Paramount Global by 27.5% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 33,254 shares of the company’s stock valued at $348,000 after buying an additional 7,167 shares during the period. 73.00% of the stock is owned by institutional investors and hedge funds.

Paramount Global Stock Up 1.8 %

Shares of Paramount Global stock traded up $0.20 during trading on Friday, reaching $11.07. The company had a trading volume of 13,499,838 shares, compared to its average volume of 8,476,292. The company has a market cap of $7.38 billion, a price-to-earnings ratio of -1.35, a price-to-earnings-growth ratio of 1.53 and a beta of 1.70. The firm’s fifty day moving average is $10.72 and its 200-day moving average is $10.77. 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 has a fifty-two week low of $9.54 and a fifty-two week high of $15.70.

Paramount Global (NASDAQ:PARA) last posted its earnings results on Friday, November 8th. The company reported $0.49 EPS for the quarter, topping the consensus estimate of $0.24 by $0.25. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The firm had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.94 billion. During the same quarter in the prior year, the firm earned $0.30 EPS. Paramount Global’s quarterly revenue was down 5.6% on a year-over-year basis. On average, analysts anticipate that Paramount Global will post 1.78 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on PARA shares. StockNews.com raised shares of Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. Finally, Macquarie reissued an “underperform” rating and set a $10.00 price objective on shares of Paramount Global in a research note on Monday, November 11th. Six investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $12.50.

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.