Paramount Global (NASDAQ:PARAA) Reaches New 12-Month Low at $17.01

Paramount Global (NASDAQ:PARAA – Get Rating)’s share price reached a new 52-week low during trading on Tuesday . The stock traded as low as 17.01 and last traded at 17.16, with a volume of 73300 shares. The stock had previously closed at 17.47.

Paramount Global Stock Down 1.3 %

The firm has a 50-day moving average of 22.96 and a 200 day moving average of 23.07. The stock has a market capitalization of $11.02 billion, a price-to-earnings ratio of -21.68 and a beta of 1.52. The company has a current ratio of 1.12, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70.

Paramount Global Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Thursday, June 15th will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $0.20 annualized dividend and a yield of 1.18%. Paramount Global’s dividend payout ratio is presently -123.08%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Gamco Investors INC. ET AL bought a new position in Paramount Global in the 3rd quarter valued at about $45,451,000. Gabelli Funds LLC bought a new position in shares of Paramount Global in the third quarter valued at approximately $39,114,000. Envestnet Asset Management Inc. boosted its holdings in shares of Paramount Global by 1,776.8% in the first quarter. Envestnet Asset Management Inc. now owns 482,631 shares of the company’s stock valued at $122,000 after acquiring an additional 456,916 shares in the last quarter. Vanguard Group Inc. bought a new position in shares of Paramount Global in the third quarter valued at approximately $9,701,000. Finally, Poehling Capital Management INC. bought a new position in shares of Paramount Global in the third quarter valued at approximately $5,472,000. 1.02% of the stock is currently owned by institutional investors.

Paramount Global Company Profile

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Paramount Global operates as a mass media company, which creates and distributes content across a variety of platforms to audiences around the world. It operates its business through the following segments: Entertainment, Cable Networks, Publishing, and Local Media. The Entertainment segment is composed of the CBS Television Network, CBS Television Studios, CBS Studios International, CBS Television Distribution, CBS Interactive, and CBS Films, as well as the company’s digital streaming services, CBS All Access and CBSN.