Paramount Global (NASDAQ:PARAA) Shares Gap Up to $16.33

Shares of Paramount Global (NASDAQ:PARAA – Get Rating) gapped up prior to trading on Friday . The stock had previously closed at 16.33, but opened at 17.10. Paramount Global shares last traded at 17.32, with a volume of 43,832 shares traded.

Paramount Global Trading Up 5.7 %

The company has a debt-to-equity ratio of 0.70, a current ratio of 1.12 and a quick ratio of 1.02. The stock has a market capitalization of $11.25 billion, a PE ratio of -22.18 and a beta of 1.52. The stock’s 50 day simple moving average is 22.82 and its two-hundred day simple moving average is 23.03.

Paramount Global Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Thursday, June 15th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date is Wednesday, June 14th. Paramount Global’s payout ratio is -123.08%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PARAA. Captrust Financial Advisors purchased a new stake in shares of Paramount Global during the 2nd quarter valued at approximately $42,000. Allspring Global Investments Holdings LLC purchased a new stake in Paramount Global in the 3rd quarter worth approximately $199,000. US Bancorp DE bought a new position in shares of Paramount Global during the 3rd quarter valued at $79,000. Rockefeller Capital Management L.P. bought a new position in shares of Paramount Global during the 3rd quarter valued at $35,000. Finally, Barclays PLC bought a new position in shares of Paramount Global during the 3rd quarter valued at $135,000. 1.02% of the stock is currently owned by hedge funds and other 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.