The stock of Paramount Global (NASDAQ:PARA) last traded at $11.00, up 2.80% from the previous session.
PARA stock price is now -15.23% away from the 50-day moving average and -36.88% away from the 200-day moving average. The market capitalization of the company currently stands at $7.16B.
With the price target of $17, Seaport Research Partners recently initiated with Buy rating for Paramount Global (NASDAQ: PARA).
In other news, REDSTONE SHARI, Director bought 165,000 shares of the company’s stock on May 16. The stock was bought for $2,485,560 at an average price of $15.06. Upon completion of the transaction, the Director now directly owns 577,064 shares in the company, valued at $6.35 million. Insiders disposed of 248,201 shares of company stock worth roughly $2.73 million over the past 1 year. A total of 11.47% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PARA stock. A new stake in Paramount Global shares was purchased by MARSHALL WACE, LLP during the first quarter worth $8,376,000. M&G INVESTMENT MANAGEMENT LTD invested $7,377,000 in shares of PARA during the first quarter. In the first quarter, POINT72 MIDDLE EAST FZE acquired a new stake in Paramount Global valued at approximately $5,143,000. NIXON CAPITAL, LLC acquired a new stake in PARA for approximately $4,923,000. GTS SECURITIES LLC purchased a new stake in PARA valued at around $4,701,000 in the second quarter. In total, there are 1,072 active investors with 73.36% ownership of the company’s stock.
With an opening price of $10.76 on Monday morning, Paramount Global (NASDAQ: PARA) set off the trading day. During the past 12 months, Paramount Global has had a low of $10.63 and a high of $25.93. As of last week, the company has a debt-to-equity ratio of 0.80, a current ratio of 1.17, and a quick ratio of 1.02. The fifty day moving average price for PARA is $12.90 and a two-hundred day moving average price translates $17.38 for the stock.
The latest earnings results from Paramount Global (NASDAQ: PARA) was released for Jun, 2023. According to the Entertainment Company, earnings per share came in at $0.1, beating analysts’ expectations of $0 by 0.1. This compares to $0.09 EPS in the same period last year. The net profit margin was -4.08% and return on equity was -7.02% for PARA. The company reported revenue of $7.62 billion for the quarter, compared to $7.78 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -2.1 percent. For the current quarter, analysts expect PARA to generate $7.12B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 01/02/2024. Investors who held shares on 12/15/2023 were paid a $0.05 dividend. On an annualized basis, this represents a $0.39 dividend and a 3.56% percent yield. There was an ex-dividend date of 12/14/2023 for this dividend. In terms of dividend payout ratio, PARA is presently at 59.66%.
