Short Interest in Paramount Global (NASDAQ:PARAA) Drops By 19.8%

Paramount Global (NASDAQ:PARAA) saw a significant decline in short interest during the month of January. As of January 15th, there was short interest totalling 409,200 shares, a decline of 19.8% from the December 31st total of 510,200 shares. Approximately 4.6% of the company’s shares are short sold. Based on an average trading volume of 40,600 shares, the days-to-cover ratio is currently 10.1 days.

Institutional Investors Weigh In On Paramount Global

A number of institutional investors have recently made changes to their positions in PARAA. Quest Partners LLC bought a new stake in Paramount Global during the 3rd quarter worth approximately $106,000. Dimensional Fund Advisors LP increased its position in shares of Paramount Global by 4.6% during the second quarter. Dimensional Fund Advisors LP now owns 143,261 shares of the company’s stock worth $2,633,000 after acquiring an additional 6,309 shares in the last quarter. State Street Corp raised its holdings in shares of Paramount Global by 20.2% during the third 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. Gladius Capital Management LP bought a new stake in Paramount Global in the 3rd quarter valued at $233,000. Finally, Atom Investors LP acquired a new position in Paramount Global in the 3rd quarter worth $244,000. 5.98% of the stock is owned by institutional investors and hedge funds.

Paramount Global Stock Performance

Paramount Global stock opened at $22.81 on Thursday. The business’s 50-day simple moving average is $22.65 and its 200 day simple moving average is $22.37. 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 has a 12-month low of $16.59 and a 12-month high of $26.34.

Paramount Global (NASDAQ:PARAA) last issued its earnings results on Friday, November 8th. The company reported $0.49 earnings per share (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 negative net margin of 18.89% and a positive return on equity of 5.81%. During the same quarter last year, the firm earned $0.30 EPS. On average, equities analysts predict that Paramount Global will post 2.25 EPS for the current fiscal year.

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.