Paramount Global Target of Unusually High Options Trading (NASDAQ:PARA)

Paramount Global (NASDAQ:PARA) was the recipient of unusually large options trading activity on Thursday. Traders bought 23,302 put options on the company. This is an increase of approximately 50% compared to the typical volume of 15,539 put options.

Analysts Set New Price Targets

Several equities analysts recently commented on PARA shares. Macquarie reissued an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a research note on Monday, November 11th. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research report on Monday, November 11th. Guggenheim dropped their target price on Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research report on Monday, November 11th. Seven research analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $12.43.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Blue Trust Inc. increased its stake in Paramount Global by 162.8% in the 3rd quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock valued at $26,000 after buying an additional 1,573 shares during the last quarter. Huntington National Bank boosted its position in 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 purchasing an additional 1,561 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Paramount Global during the 2nd quarter valued at $43,000. Kennebec Savings Bank bought a new stake in shares of Paramount Global during the 3rd quarter worth $47,000. Finally, Livforsakringsbolaget Skandia Omsesidigt boosted its stake in Paramount Global by 518.3% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 4,891 shares of the company’s stock valued at $52,000 after acquiring an additional 4,100 shares during the last quarter. 73.00% of the stock is owned by institutional investors.

Paramount Global Stock Performance

PARA stock opened at $10.67 on Friday. Paramount Global has a 1-year low of $9.54 and a 1-year high of $15.70. The company has a current ratio of 1.27, a quick ratio of 1.10 and a debt-to-equity ratio of 0.85. The stock has a 50-day moving average price of $10.86 and a 200-day moving average price of $10.76. The firm has a market cap of $7.12 billion, a PE ratio of -1.30, a price-to-earnings-growth ratio of 1.35 and a beta of 1.70.

Paramount Global (NASDAQ:PARA) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.25. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The firm had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.94 billion. During the same quarter in the prior year, the business earned $0.30 earnings per share. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. As a group, equities research analysts expect that Paramount Global will post 1.86 earnings per share for the current 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.