Daiwa Securities Group Inc. Has $590,000 Stock Holdings in Paramount Global (NASDAQ:PARA)

Daiwa Securities Group Inc. boosted its position in Paramount Global (NASDAQ:PARA) by 16.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 56,821 shares of the company’s stock after acquiring an additional 8,200 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Paramount Global were worth $590,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in PARA. Choreo LLC acquired a new position in Paramount Global during the second quarter worth about $104,000. Ashton Thomas Private Wealth LLC bought a new position in Paramount Global in the 2nd quarter valued at approximately $43,000. PFG Investments LLC grew its stake in shares of Paramount Global by 14.2% during the second quarter. PFG Investments LLC now owns 129,565 shares of the company’s stock worth $1,346,000 after buying an additional 16,074 shares during the last quarter. X Square Capital LLC acquired a new position in shares of Paramount Global during the second quarter worth $260,000. Finally, Prestige Wealth Management Group LLC lifted its stake in shares of Paramount Global by 13.2% in the 2nd quarter. Prestige Wealth Management Group LLC now owns 8,648 shares of the company’s stock valued at $90,000 after acquiring an additional 1,011 shares during the last quarter. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Paramount Global Stock Performance

NASDAQ:PARA opened at $10.42 on Tuesday. The company has a quick ratio of 1.15, a current ratio of 1.30 and a debt-to-equity ratio of 0.85. Paramount Global has a twelve month low of $9.54 and a twelve month high of $17.50. The company has a fifty day moving average of $10.92 and a 200-day moving average of $11.33. The firm has a market capitalization of $6.94 billion, a P/E ratio of -69.47, a P/E/G ratio of 0.57 and a beta of 1.75.

Paramount Global (NASDAQ:PARA) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.40. The firm had revenue of $6.81 billion during the quarter, compared to the consensus estimate of $7.21 billion. Paramount Global had a negative net margin of 17.62% and a positive return on equity of 4.88%. As a group, sell-side analysts anticipate that Paramount Global will post 1.57 EPS for the current year.

Paramount Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Monday, September 16th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.20 annualized dividend and a yield of 1.92%. Paramount Global’s payout ratio is currently -133.33%.

Analyst Ratings Changes

PARA has been the subject of a number of recent research reports. Evercore ISI lowered their target price on Paramount Global from $13.00 to $11.50 and set an “in-line” rating for the company in a report on Tuesday, July 9th. JPMorgan Chase & Co. lowered their price objective on Paramount Global from $12.00 to $11.00 and set an “underweight” rating for the company in a research note on Thursday, August 15th. Benchmark reiterated a “buy” rating and set a $19.00 target price on shares of Paramount Global in a research report on Friday, August 9th. Wells Fargo & Company upgraded shares of Paramount Global from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $10.00 to $11.00 in a research report on Friday, August 9th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $14.00 price target on shares of Paramount Global in a report on Tuesday, June 4th. Eleven analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $12.47.

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.