Investors Buy Large Volume of Paramount Global Call Options (NASDAQ:PARA)

Paramount Global (NASDAQ:PARA) saw some unusual options trading on Wednesday. Stock investors acquired 45,022 call options on the company. This represents an increase of approximately 191% compared to the typical daily volume of 15,474 call options.

Paramount Global Price Performance

NASDAQ:PARA traded down $0.31 during mid-day trading on Wednesday, reaching $11.20. The stock had a trading volume of 5,039,113 shares, compared to its average volume of 8,918,466. The firm has a 50 day moving average price of $10.77 and a two-hundred day moving average price of $10.73. The stock has a market capitalization of $7.47 billion, a P/E ratio of -1.36, a P/E/G ratio of 1.68 and a beta of 1.69. Paramount Global has a one year low of $9.54 and a one year high of $14.54. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.79%. Paramount Global’s dividend payout ratio is presently -2.43%.

Analysts Set New Price Targets

PARA has been the subject of several recent research reports. Macquarie reissued an “underperform” rating and issued a $10.00 price target on shares of Paramount Global in a research note on Monday, November 11th. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Morgan Stanley increased their price objective on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research report on Tuesday, February 4th. Finally, Needham & Company LLC restated a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $12.58.

Institutional Investors Weigh In On Paramount Global

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP lifted its holdings in Paramount Global by 140.1% in the fourth quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock valued at $25,000 after acquiring an additional 1,395 shares during the period. Blue Trust Inc. raised its stake in shares of Paramount Global by 162.8% in the third quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock worth $26,000 after buying an additional 1,573 shares during the period. Huntington National Bank raised its stake in shares of Paramount Global by 129.0% in the third quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after buying an additional 1,561 shares during the period. Ossiam raised its stake in shares of Paramount Global by 57.2% in the fourth quarter. Ossiam now owns 2,810 shares of the company’s stock worth $29,000 after buying an additional 1,022 shares during the period. Finally, Mountain Hill Investment Partners Corp. bought a new position in shares of Paramount Global in the fourth quarter worth about $31,000. 73.00% of the stock is owned by hedge funds and other institutional investors.

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.