Paramount Global (NASDAQ:PARAA) Short Interest Down 19.2% in August

Paramount Global (NASDAQ:PARAA) was the recipient of a significant decline in short interest in the month of August. As of August 15th, there was short interest totalling 496,900 shares, a decline of 19.2% from the July 31st total of 614,600 shares. Approximately 5.5% of the shares of the company are sold short. Based on an average daily volume of 80,000 shares, the days-to-cover ratio is presently 6.2 days.

Institutional Investors Weigh In On Paramount Global

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its holdings in shares of Paramount Global by 5.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 10,953 shares of the company’s stock worth $239,000 after buying an additional 537 shares in the last quarter. GAMMA Investing LLC raised its stake in Paramount Global by 708.2% in the first quarter. GAMMA Investing LLC now owns 1,285 shares of the company’s stock valued at $28,000 after purchasing an additional 1,126 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Paramount Global by 416.3% in the first quarter. Russell Investments Group Ltd. now owns 2,592 shares of the company’s stock valued at $57,000 after purchasing an additional 2,090 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Paramount Global by 13.1% in the second quarter. Bank of New York Mellon Corp now owns 28,315 shares of the company’s stock valued at $520,000 after purchasing an additional 3,281 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Paramount Global by 4.6% in the second quarter. Dimensional Fund Advisors LP now owns 143,261 shares of the company’s stock valued at $2,633,000 after purchasing an additional 6,309 shares in the last quarter. Institutional investors and hedge funds own 5.98% of the company’s stock.

Paramount Global Stock Down 0.1 %

PARAA stock opened at $22.17 on Friday. Paramount Global has a one year low of $13.40 and a one year high of $26.34. The company has a quick ratio of 1.15, a current ratio of 1.30 and a debt-to-equity ratio of 0.85. The company has a fifty day moving average price of $21.70 and a two-hundred day moving average price of $21.48.

Paramount Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 16th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date is Monday, September 16th. Paramount Global’s dividend payout ratio is currently -133.32%.

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.