Daiwa Securities Group Inc. Increases Stock Position in Paramount Global (NASDAQ:PARA)

Daiwa Securities Group Inc. grew its holdings in Paramount Global (NASDAQ:PARA) by 14.5% in the first quarter, Holdings Channel reports. The firm owned 48,621 shares of the company’s stock after buying an additional 6,151 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Paramount Global were worth $572,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of PARA. VisionPoint Advisory Group LLC bought a new position in Paramount Global during the 3rd quarter valued at about $25,000. Anchor Investment Management LLC bought a new position in Paramount Global during the fourth quarter valued at approximately $30,000. Archer Investment Corp purchased a new stake in Paramount Global in the fourth quarter worth approximately $30,000. Friedenthal Financial purchased a new stake in Paramount Global in the fourth quarter worth approximately $39,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in Paramount Global in the 4th quarter worth approximately $44,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Analyst Ratings Changes

PARA has been the topic of a number of research reports. StockNews.com upgraded Paramount Global from a “sell” rating to a “hold” rating in a research note on Wednesday, May 8th. Seaport Res Ptn downgraded Paramount Global from a “buy” rating to a “neutral” rating in a research note on Thursday, May 2nd. Benchmark reiterated a “buy” rating and issued a $19.00 price objective on shares of Paramount Global in a research note on Tuesday. JPMorgan Chase & Co. dropped their price objective on shares of Paramount Global from $13.00 to $12.00 and set an “underweight” rating on the stock in a report on Thursday, April 4th. Finally, Wells Fargo & Company cut shares of Paramount Global from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $14.00 to $9.00 in a report on Wednesday, June 12th. Eleven research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $12.83.

Paramount Global Price Performance

NASDAQ:PARA opened at $11.73 on Friday. The company has a current ratio of 1.29, a quick ratio of 1.19 and a debt-to-equity ratio of 0.65. Paramount Global has a 12 month low of $9.54 and a 12 month high of $17.50. The business’s 50-day moving average is $11.56 and its 200 day moving average is $12.19.

Paramount Global (NASDAQ:PARA) last posted its earnings results on Monday, April 29th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.28. The firm had revenue of $7.69 billion during the quarter, compared to analyst estimates of $7.73 billion. Paramount Global had a negative net margin of 0.15% and a positive return on equity of 3.35%. Paramount Global’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same period last year, the firm posted $0.09 earnings per share. On average, research analysts expect that Paramount Global will post 1.32 EPS for the current fiscal year.

Paramount Global Profile

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.