Paramount Global (NASDAQ:PARAA) Short Interest Down 19.8% in January

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

Paramount Global Price Performance

Shares of NASDAQ:PARAA opened at $22.81 on Thursday. The company’s 50-day moving average price is $22.65 and its two-hundred day moving average price is $22.37. Paramount Global has a one year low of $16.59 and a one year high of $26.34. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.27 and a quick ratio of 1.10.

Paramount Global (NASDAQ:PARAA) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.49 EPS for the quarter, beating the consensus estimate of $0.40 by $0.09. The firm had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.87 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. During the same period in the prior year, the firm posted $0.30 earnings per share. Research analysts anticipate that Paramount Global will post 2.25 earnings per share for the current year.

Institutional Trading of Paramount Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in shares of Paramount Global by 4.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 143,261 shares of the company’s stock worth $2,633,000 after purchasing an additional 6,309 shares during the last quarter. Squarepoint Ops LLC grew its holdings in Paramount Global by 120.0% during the second quarter. Squarepoint Ops LLC now owns 46,749 shares of the company’s stock worth $859,000 after purchasing an additional 25,504 shares during the period. Gladius Capital Management LP acquired a new position in Paramount Global during the third quarter worth approximately $233,000. Quest Partners LLC acquired a new position in Paramount Global during the third quarter worth approximately $106,000. Finally, Slotnik Capital LLC acquired a new stake in shares of Paramount Global in the third quarter valued at approximately $1,401,000. 5.98% of the stock is owned by 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.