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

Paramount Global (NASDAQ:PARA) saw some unusual options trading on Monday. Stock traders bought 62,370 call options on the stock. This represents an increase of 45% compared to the typical volume of 42,953 call options.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft dropped their price target on Paramount Global from $25.00 to $24.00 in a research report on Tuesday, August 8th. Guggenheim dropped their price target on Paramount Global from $21.00 to $19.00 and set a “buy” rating on the stock in a research report on Monday, October 2nd. Raymond James assumed coverage on Paramount Global in a research report on Monday, September 18th. They set a “market perform” rating on the stock. The Goldman Sachs Group dropped their price target on Paramount Global from $15.00 to $11.00 and set a “sell” rating on the stock in a research report on Friday, October 20th. Finally, Morgan Stanley dropped their price target on Paramount Global from $15.00 to $9.00 and set an “underweight” rating on the stock in a research report on Wednesday, November 1st. Ten analysts have rated the stock with a sell rating, four have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Paramount Global has a consensus rating of “Hold” and an average price target of $15.72.

Paramount Global Price Performance

PARA stock traded up $0.99 during trading hours on Monday, hitting $14.18. 13,457,176 shares of the stock traded hands, compared to its average volume of 12,714,635. The stock has a 50-day simple moving average of $12.34 and a 200 day simple moving average of $14.38. Paramount Global has a one year low of $10.51 and a one year high of $25.93. The company has a market cap of $9.24 billion, a P/E ratio of -7.96, a P/E/G ratio of 3.30 and a beta of 1.76. The company has a current ratio of 1.26, a quick ratio of 1.09 and a debt-to-equity ratio of 0.70.

Paramount Global Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Friday, December 15th will be given a $0.05 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.41%. Paramount Global’s dividend payout ratio (DPR) is -11.24%.

Hedge Funds Weigh In On Paramount Global

Hedge funds and other institutional investors have recently modified their holdings of the stock. Capital Advisors Ltd. LLC lifted its stake in Paramount Global by 130.0% in the 1st quarter. Capital Advisors Ltd. LLC now owns 1,212 shares of the company’s stock worth $27,000 after acquiring an additional 685 shares in the last quarter. Cornerstone Planning Group LLC purchased a new stake in Paramount Global in the 2nd quarter worth about $30,000. ICA Group Wealth Management LLC purchased a new stake in Paramount Global in the 4th quarter worth about $32,000. WFA of San Diego LLC lifted its stake in Paramount Global by 635.0% in the 3rd quarter. WFA of San Diego LLC now owns 2,646 shares of the company’s stock worth $34,000 after acquiring an additional 2,286 shares in the last quarter. Finally, Pacific Center for Financial Services purchased a new stake in shares of Paramount Global during the 1st quarter worth about $35,000. Institutional investors and hedge funds own 72.39% of the company’s stock.

Paramount Global Company Profile

Paramount Global operates as a media and entertainment company worldwide. The company operates through TV Media, Direct-to-Consumer, and Filmed Entertainment segments. Its TV Media segment operates domestic and international broadcast networks, including CBS Television Network, Network 10, Channel 5, Telefe, and Chilevisión; and cable networks comprising Paramount Media Networks, Nickelodeon, BET Media Group, and CBS Sports.