Nomura Asset Management Co. Ltd. Acquires 37,868 Shares of Paramount Global (NASDAQ:PARA)

Nomura Asset Management Co. Ltd. boosted its holdings in shares of Paramount Global (NASDAQ:PARA) by 21.2% during the 3rd quarter, Holdings Channel reports. The firm owned 216,645 shares of the company’s stock after buying an additional 37,868 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Paramount Global were worth $2,301,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. raised its position in shares of Paramount Global by 162.8% during the third quarter. Blue Trust Inc. now owns 2,539 shares of the company’s stock valued at $26,000 after buying an additional 1,573 shares during the last quarter. Huntington National Bank increased its holdings in Paramount Global by 129.0% in the 3rd quarter. Huntington National Bank now owns 2,771 shares of the company’s stock valued at $29,000 after acquiring an additional 1,561 shares during the last quarter. Atlas Capital Advisors LLC purchased a new stake in Paramount Global in the 2nd quarter worth $35,000. Ashton Thomas Private Wealth LLC bought a new position in shares of Paramount Global during the 2nd quarter valued at about $43,000. Finally, Kennebec Savings Bank bought a new position in shares of Paramount Global during the 3rd quarter valued at about $47,000. Institutional investors own 73.00% of the company’s stock.

Paramount Global Price Performance

Shares of PARA stock opened at $11.22 on Friday. Paramount Global has a 52-week low of $9.54 and a 52-week high of $16.83. The firm has a market capitalization of $7.48 billion, a P/E ratio of -1.36, a P/E/G ratio of 1.35 and a beta of 1.71. The stock has a 50 day moving average price of $10.81 and a 200 day moving average price of $10.85. 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 (NASDAQ:PARA) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.49 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.25. Paramount Global had a negative net margin of 18.89% and a positive return on equity of 5.81%. The company had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.94 billion. During the same quarter last year, the business posted $0.30 EPS. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. As a group, sell-side analysts predict that Paramount Global will post 1.86 earnings per share for the current year.

Paramount Global Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Investors of record on Monday, December 16th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.78%. Paramount Global’s payout ratio is currently -2.43%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. StockNews.com raised Paramount Global from a “sell” rating to a “hold” rating in a research note on Monday, November 11th. Guggenheim cut their target price on shares of Paramount Global from $19.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, September 25th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research note on Monday, November 11th. Finally, Macquarie reissued an “underperform” rating and issued a $10.00 price objective on shares of Paramount Global in a research note on Monday, November 11th. Seven research analysts have rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $12.43.

Paramount Global Company 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.