Short Interest in Paramount Global (NASDAQ:PARAA) Drops By 19.8%

Paramount Global (NASDAQ:PARAA) saw a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 409,200 shares, a drop of 19.8% from the December 15th total of 510,200 shares. Based on an average daily volume of 40,600 shares, the short-interest ratio is presently 10.1 days. Approximately 4.6% of the shares of the stock are sold short.

Paramount Global Stock Down 0.2 %

Shares of PARAA stock opened at $22.52 on Thursday. The business has a fifty day simple moving average of $22.55 and a 200 day simple moving average of $22.21. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.10 and a current ratio of 1.27. Paramount Global has a twelve month low of $16.59 and a twelve month high of $26.34.

Institutional Investors Weigh In On Paramount Global

A number of hedge funds have recently made changes to their positions in the stock. Quest Partners LLC acquired a new position in shares of Paramount Global during the third quarter worth $106,000. Gladius Capital Management LP bought a new position in Paramount Global in the third quarter valued at about $233,000. Atom Investors LP acquired a new stake in shares of Paramount Global during the third quarter valued at about $244,000. Bank of New York Mellon Corp boosted its stake in shares of Paramount Global by 13.1% during 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, Squarepoint Ops LLC grew its holdings in shares of Paramount Global by 120.0% during the second quarter. Squarepoint Ops LLC now owns 46,749 shares of the company’s stock worth $859,000 after purchasing an additional 25,504 shares during the last quarter. 5.98% of the stock is currently owned by institutional investors and hedge funds.

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.