Rakuten Securities Inc. Increases Stock Holdings in Paramount Global (NASDAQ:PARA)

Rakuten Securities Inc. increased its holdings in shares of Paramount Global (NASDAQ:PARA) by 187.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,094 shares of the company’s stock after buying an additional 2,019 shares during the quarter. Rakuten Securities Inc.’s holdings in Paramount Global were worth $32,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Allworth Financial LP grew its stake in Paramount Global by 140.1% during the 4th quarter. Allworth Financial LP now owns 2,391 shares of the company’s stock worth $25,000 after buying an additional 1,395 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Paramount Global by 1.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 92,019 shares of the company’s stock worth $977,000 after buying an additional 1,481 shares during the last quarter. Huntington National Bank grew its stake in Paramount Global by 129.0% during the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock worth $29,000 after buying an additional 1,561 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its stake in Paramount Global by 10.4% during the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 17,608 shares of the company’s stock valued at $187,000 after purchasing an additional 1,663 shares during the last quarter. Finally, Insight Inv LLC grew its stake in Paramount Global by 9.8% during the 4th quarter. Insight Inv LLC now owns 20,435 shares of the company’s stock valued at $215,000 after purchasing an additional 1,825 shares during the last quarter. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PARA has been the topic of several research analyst reports. Guggenheim reiterated a “buy” rating and set a $14.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Benchmark reiterated a “buy” rating and set a $19.00 price target on shares of Paramount Global in a research note on Thursday, February 27th. Needham & Company LLC reiterated a “hold” rating on shares of Paramount Global in a research note on Thursday, February 27th. Finally, Morgan Stanley boosted their price target on Paramount Global from $10.00 to $11.00 and gave the company an “underweight” rating in a research note on Tuesday, February 4th. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Paramount Global has an average rating of “Hold” and a consensus price target of $12.10.

Paramount Global Stock Performance

Shares of PARA stock opened at $11.64 on Friday. The stock has a market cap of $7.76 billion, a PE ratio of -1.42, a price-to-earnings-growth ratio of 1.68 and a beta of 1.60. The business has a 50-day simple moving average of $11.01 and a 200-day simple moving average of $10.79. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.85. Paramount Global has a 52-week low of $9.54 and a 52-week high of $14.54.

Paramount Global (NASDAQ:PARA) last released its quarterly earnings results on Wednesday, February 26th. The company reported ($0.11) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.29). The business had revenue of $7.98 billion during the quarter, compared to analyst estimates of $8.07 billion. Paramount Global had a positive return on equity of 5.81% and a negative net margin of 18.89%. On average, equities analysts expect that Paramount Global will post 1.77 EPS for the current year.

Paramount Global Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Monday, March 17th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.20 dividend on an annualized basis and a yield of 1.72%. Paramount Global’s payout ratio is -2.15%.

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.