Sei Investments Co. Has $1.65 Million Holdings in Paramount Global (NASDAQ:PARA)

Sei Investments Co. lifted its stake in shares of Paramount Global (NASDAQ:PARA) by 2.6% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 158,629 shares of the company’s stock after buying an additional 4,001 shares during the quarter. Sei Investments Co.’s holdings in Paramount Global were worth $1,648,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. ProShare Advisors LLC increased its stake in Paramount Global by 146.5% in the first quarter. ProShare Advisors LLC now owns 151,864 shares of the company’s stock valued at $1,787,000 after purchasing an additional 90,262 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in Paramount Global by 5.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 679,519 shares of the company’s stock valued at $7,998,000 after buying an additional 34,541 shares in the last quarter. Financial Counselors Inc. raised its stake in Paramount Global by 6.9% during the 2nd quarter. Financial Counselors Inc. now owns 864,287 shares of the company’s stock worth $8,980,000 after buying an additional 56,021 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in Paramount Global by 33.9% in the first quarter. CANADA LIFE ASSURANCE Co now owns 406,895 shares of the company’s stock worth $4,790,000 after acquiring an additional 103,103 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in Paramount Global by 798.0% in the second quarter. Canada Pension Plan Investment Board now owns 684,300 shares of the company’s stock valued at $7,110,000 after acquiring an additional 608,100 shares during the period. Institutional investors own 73.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. Wolfe Research cut Paramount Global from a “peer perform” rating to an “underperform” rating and set a $10.00 target price on the stock. in a report on Tuesday, July 9th. Benchmark reaffirmed a “buy” rating and issued a $19.00 price objective on shares of Paramount Global in a research note on Friday, August 9th. Wells Fargo & Company raised shares of Paramount Global from an “underweight” rating to an “equal weight” rating and boosted their target price for the stock from $10.00 to $11.00 in a research report on Friday, August 9th. Needham & Company LLC reaffirmed a “hold” rating on shares of Paramount Global in a research report on Friday, August 9th. Finally, StockNews.com lowered Paramount Global from a “hold” rating to a “sell” rating in a report on Thursday. Ten analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $12.25.

Paramount Global Stock Performance

Shares of PARA stock opened at $10.52 on Friday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.15 and a current ratio of 1.30. The firm has a market cap of $7.01 billion, a price-to-earnings ratio of -70.13, a P/E/G ratio of 0.58 and a beta of 1.75. Paramount Global has a 52 week low of $9.54 and a 52 week high of $17.50. The firm’s 50-day simple moving average is $10.61 and its two-hundred day simple moving average is $11.28.

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

Paramount Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 16th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.90%. Paramount Global’s dividend payout ratio is presently -133.32%.

About Paramount Global

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.