Paramount Global (NASDAQ:PARAA) Trading Down 3.7% – Here’s What Happened

Paramount Global (NASDAQ:PARAA) fell 3.7% during mid-day trading on Friday . The company traded as low as $22.43 and last traded at $22.43. 13,260 shares changed hands during trading, a decline of 81% from the average session volume of 68,456 shares. The stock had previously closed at $23.30.

Paramount Global Trading Down 2.7 %

The firm has a market capitalization of $15.12 billion, a price-to-earnings ratio of -2.76 and a beta of 1.66. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. The company has a 50-day moving average price of $22.01 and a 200-day moving average price of $21.54.

Paramount Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Monday, December 16th. Paramount Global’s dividend payout ratio (DPR) is -2.43%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PARAA. Vanguard Group Inc. boosted its position in shares of Paramount Global by 11.3% in the 1st quarter. Vanguard Group Inc. now owns 682,998 shares of the company’s stock valued at $14,910,000 after purchasing an additional 69,084 shares during the period. Poehling Capital Management INC. increased its holdings in shares of Paramount Global by 10.2% in the 2nd quarter. Poehling Capital Management INC. now owns 433,435 shares of the company’s stock valued at $7,967,000 after acquiring an additional 40,142 shares during the period. Geode Capital Management LLC boosted its stake in 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 purchasing an additional 35,305 shares during the period. Mark Asset Management LP purchased a new position in Paramount Global during the 2nd quarter worth $3,351,000. Finally, Dimensional Fund Advisors LP increased its stake in Paramount Global by 4.6% in the second quarter. Dimensional Fund Advisors LP now owns 143,261 shares of the company’s stock valued at $2,633,000 after purchasing an additional 6,309 shares during the period. 5.98% of the stock is owned by hedge funds and other institutional investors.

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.