AXQ Capital LP Trims Stake in Paramount Skydance Corporation $PSKY

Key Points

• AXQ Capital cut its Paramount Skydance stake by 89.4% in the second quarter, selling 144,776 shares and retaining 17,126 shares valued at approximately $169,000. Institutional investors collectively own 73% of the company.
• Analyst sentiment remains cautious, with two Buy, five Hold and eight Sell ratings. The stock has an average “Reduce” rating and a consensus price target of $11.38, while several firms recently lowered their targets.
• Paramount Skydance reported quarterly EPS of $0.18, exceeding estimates of $0.15, on $6.91 billion in revenue. The company also declared a quarterly dividend of $0.05 per share, equating to a 1.9% annualized yield.

AXQ Capital LP lowered its holdings in Paramount Skydance Corporation (NASDAQ:PSKY - Free Report) by 89.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 17,126 shares of the company's stock after selling 144,776 shares during the period. AXQ Capital LP's holdings in Paramount Skydance were worth $169,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Pittenger & Anderson Inc. lifted its position in Paramount Skydance by 18.0% during the first quarter. Pittenger & Anderson Inc. now owns 6,560 shares of the company's stock valued at $59,000 after purchasing an additional 1,000 shares during the last quarter. New Mexico Educational Retirement Board increased its holdings in shares of Paramount Skydance by 6.9% in the 2nd quarter. New Mexico Educational Retirement Board now owns 15,499 shares of the company's stock worth $153,000 after buying an additional 1,000 shares during the last quarter. LSV Asset Management increased its holdings 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 worth $2,531,000 after buying an additional 1,116 shares during the last quarter. Huntington National Bank raised its position in shares of Paramount Skydance by 108.2% during the 4th quarter. Huntington National Bank now owns 2,259 shares of the company's stock valued at $30,000 after buying an additional 1,174 shares in the last quarter. Finally, CX Institutional raised its position in shares of Paramount Skydance by 38.1% during the 2nd quarter. CX Institutional now owns 4,612 shares of the company's stock valued at $45,000 after buying an additional 1,273 shares in the last quarter. Institutional investors own 73.00% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Arete Research reiterated a "sell" rating and issued a $2.00 target price on shares of Paramount Skydance in a research report on Thursday, July 9th. TD Cowen lowered their price target on Paramount Skydance from $13.00 to $8.00 and set a "hold" rating on the stock in a research report on Wednesday, August 5th. Benchmark dropped their price target on Paramount Skydance from $19.00 to $16.00 and set a "buy" rating for the company in a research note on Wednesday, August 5th. Weiss Ratings upgraded Paramount Skydance from a "sell (d-)" rating to a "sell (d)" rating in a report on Thursday, August 6th. Finally, UBS Group reduced their price objective on Paramount Skydance from $10.00 to $8.00 and set a "sell" rating on the stock in a research report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and eight have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Reduce" and a consensus price target of $11.38.

Paramount Skydance Stock Performance

Paramount Skydance stock opened at $10.38 on Friday. The firm has a fifty day simple moving average of $9.62 and a two-hundred day simple moving average of $10.13. The company has a quick ratio of 0.88, a current ratio of 1.04 and a debt-to-equity ratio of 1.13. Paramount Skydance Corporation has a twelve month low of $7.62 and a twelve month high of $20.86. The company has a market capitalization of $11.65 billion, a PE ratio of 35.79, a P/E/G ratio of 0.97 and a beta of 1.50.

Paramount Skydance (NASDAQ:PSKY - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.15 by $0.03. Paramount Skydance had a positive return on equity of 4.11% and a negative net margin of 2.13%.The firm had revenue of $6.91 billion for the quarter. Research analysts expect that Paramount Skydance Corporation will post 0.56 EPS for the current year.

Paramount Skydance Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Tuesday, September 15th. Paramount Skydance's payout ratio is 68.97%.

Paramount Skydance Company Profile

Paramount Skydance Corporation NASDAQ: PSKY is a global media and entertainment company formed through the combination of Paramount Global and Skydance Media. The company develops, produces and distributes feature films, television programming and other video content for audiences in the United States and international markets.

Its portfolio includes Paramount Pictures, CBS, Nickelodeon, MTV, Comedy Central, BET, Showtime and other well-known entertainment brands. Paramount Skydance also operates streaming services including Paramount+ and Pluto TV, as well as businesses involved in television broadcasting, news, sports and content licensing.

The company's history includes Paramount Pictures, one of Hollywood's longstanding film studios, and Skydance Media, a production company founded in 2010 by David Ellison.

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