Stance Capital LLC purchased a new position in shares of Paramount Skydance Corporation (NASDAQ:PSKY – Free Report) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 99,017 shares of the company’s stock, valued at approximately $1,327,000.
Several other large investors have also bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Paramount Skydance by 0.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 140,776 shares of the company’s stock valued at $1,886,000 after acquiring an additional 900 shares during the last quarter. CWM LLC raised its position in shares of Paramount Skydance by 20.3% during the 4th quarter. CWM LLC now owns 5,759 shares of the company’s stock valued at $77,000 after acquiring an additional 970 shares during the last quarter. Mather Group LLC. raised its position in shares of Paramount Skydance by 6.3% during the 4th quarter. Mather Group LLC. now owns 17,137 shares of the company’s stock valued at $230,000 after acquiring an additional 1,009 shares during the last quarter. LSV Asset Management lifted its stake in shares of Paramount Skydance by 0.6% in the 4th quarter. LSV Asset Management now owns 188,868 shares of the company’s stock valued at $2,531,000 after purchasing an additional 1,116 shares during the period. Finally, Huntington National Bank lifted its stake in shares of Paramount Skydance by 108.2% in the 4th quarter. Huntington National Bank now owns 2,259 shares of the company’s stock valued at $30,000 after purchasing an additional 1,174 shares during the period. 73.00% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on PSKY. TD Cowen reduced their price target on Paramount Skydance from $15.00 to $13.00 and set a “hold” rating on the stock in a research report on Thursday, February 26th. Morgan Stanley raised Paramount Skydance from an “underweight” rating to an “overweight” rating and increased their target price for the company from $11.00 to $14.00 in a research note on Thursday, April 30th. Bank of America cut their target price on Paramount Skydance from $13.00 to $11.00 and set an “underperform” rating on the stock in a research note on Tuesday, March 10th. Guggenheim reduced their target price on Paramount Skydance from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, May 5th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Paramount Skydance in a research report on Friday, March 27th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and eight have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce” and a consensus price target of $12.77.
Paramount Skydance Stock Performance
PSKY opened at $9.94 on Monday. The firm’s fifty day moving average is $10.64 and its two-hundred day moving average is $11.27. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.00 and a current ratio of 1.10. The firm has a market cap of $11.12 billion, a PE ratio of 17.44, a price-to-earnings-growth ratio of 0.74 and a beta of 1.43. Paramount Skydance Corporation has a twelve month low of $8.61 and a twelve month high of $20.86.
Paramount Skydance (NASDAQ:PSKY – Get Free Report) last announced its quarterly earnings results on Monday, May 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.08. Paramount Skydance had a negative net margin of 2.08% and a positive return on equity of 4.58%. The company had revenue of $7.35 billion during the quarter. During the same period last year, the firm earned $0.22 EPS. Equities research analysts anticipate that Paramount Skydance Corporation will post 0.55 EPS for the current year.
Paramount Skydance Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be issued a dividend of $0.05 per share. The ex-dividend date is Monday, June 15th. This represents a $0.20 annualized dividend and a yield of 2.0%. Paramount Skydance’s payout ratio is currently 35.09%.
Paramount Skydance Company Profile
Paramount Skydance Media Group (Nasdaq: PSKY) is a media and entertainment company created through the proposed combination of Paramount Global’s filmed entertainment and streaming operations with Skydance Media, a privately held content studio. The combined business will encompass the development, production and distribution of feature films, television programming and digital content, drawing on a library of legacy Paramount Pictures franchises alongside Skydance’s blockbuster tentpoles and animation slate.
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