Paramount Global (PARA) Is Down -12.78% in 2024 With Lots of Room to Run

Paramount Global (NASDAQ: PARA) is -12.78% lower on its value in year-to-date trading and has touched a low of $10.51 and a high of $24.66 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The PARA stock was last observed hovering at around $13.01 in the last trading session, with the day’s loss setting it -0.11%.

Currently trading at $12.90, the stock is -5.48% and -11.38% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 9.78 million and changing -0.85% at the moment leaves the stock -12.22% off its SMA200. PARA registered -42.46% loss for a year compared to 6-month loss of -16.61%. The firm has a 50-day simple moving average (SMA 50) of $0.79 and a 200-day simple moving average (SMA200) of -$197.92.

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The stock witnessed a -8.64% gain in the last 1 month and extending the period to 3 months gives it a 9.14%, and is -10.60% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 4.03% over the week and 4.00% over the month.

Paramount Global (PARA) has around Dec 14 2023 employees, a market worth around $8.40B and $30.14B in sales. Fwd P/E is 12.41. Profit margin for the company is -3.84%. Distance from 52-week low is 22.74% and -47.69% from its 52-week high. The company has generated returns on investments over the last 12 months (-2.98%).

Paramount Global quarterly earnings per share for the current quarter are estimated at $0 with sales reaching $7.85B over the same period.The EPS is expected to shrink by -69.69% this year, but quarterly earnings will post -0.80% year-over-year. Quarterly sales are estimated to shrink -3.50% in year-over-year returns.

Paramount Global (PARA) Top Institutional Holders

982 institutions hold shares in Paramount Global (PARA), with institutional investors hold 85.33% of the company’s shares. The shares outstanding are 609.00M, and float is at 576.53M with Short Float at 14.44%. Institutions hold 67.24% of the Float.

The top institutional shareholder in the company is Berkshire Hathaway, Inc with over 93.73 million shares valued at $1.49 billion. The investor’s holdings represent 15.36% of the PARA Shares outstanding. As of Jun 29, 2023, the second largest holder is Vanguard Group Inc with 58.85 million shares valued at $936.3 million to account for 9.64% of the shares outstanding. The other top investors are Blackrock Inc. which holds 40.38 million shares representing 6.62% and valued at over $642.52 million, while State Street Corporation holds 4.98% of the shares totaling 30.38 million with a market value of $483.3 million.

Paramount Global (PARA) Insider Activity

A total of 13 insider transactions have happened at Paramount Global (PARA) in the last six months, with sales accounting for 6 and purchases happening 7 times. The most recent transaction is an insider purchase by REDSTONE SHARI ,the company’sDirector. SEC filings show that REDSTONE SHARI bought 165,000 shares of the company’s common stock on May 16 at a price of $15.06 per share for a total of $2.49 million. Following the purchase, the insider now owns 0.58 million shares.

Paramount Global (PARA): Who are the competitors?

The company’s main competitors (and peers) include Apple Inc. (AAPL) that is trading 22.75% up over the past 12 months. Amazon.com Inc. (AMZN) that is 75.26% higher over the same period.