Claret Asset Management Corp Acquires New Shares in Paramount Skydance Corporation $PSKY

Key Points

• Claret Asset Management opened a new position in Paramount Skydance, buying 136,013 shares (~$2.57M) in Q3; other institutions including Legal & General and the Swiss National Bank also established sizable stakes, leaving institutional ownership at about 73%.
• Paramount Skydance reported an outsized EPS of $999.00 for the quarter (beating estimates by $999.02), yet PSKY shares are down 6.7%, opened at $11.19 and have a market cap near $12B while the analyst consensus is a Strong Sell with a $13.15 price target.
• The company announced a quarterly dividend of $0.05 (annualized yield ~1.8%); valuation metrics include a P/E of 17.76 and a 1‑year trading range of $9.95 to $20.86.

Claret Asset Management Corp bought a new position in shares of Paramount Skydance Corporation (NASDAQ:PSKY - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 136,013 shares of the company's stock, valued at approximately $2,573,000.

A number of other large investors have also recently made changes to their positions in PSKY. Legal & General Group Plc purchased a new position in shares of Paramount Skydance in the third quarter valued at $13,125,000. Swiss National Bank bought a new stake in shares of Paramount Skydance during the 3rd quarter valued at $11,715,000. WINTON GROUP Ltd purchased a new stake in Paramount Skydance during the 3rd quarter worth about $340,000. Inceptionr LLC bought a new position in Paramount Skydance in the 3rd quarter worth about $978,000. Finally, Private Advisor Group LLC bought a new position in Paramount Skydance in the 3rd quarter worth about $498,000. 73.00% of the stock is owned by institutional investors.

Paramount Skydance Stock Down 6.7%

PSKY stock opened at $11.19 on Tuesday. The company's 50 day moving average is $11.61 and its 200 day moving average is $14.47. The stock has a market cap of $11.99 billion, a price-to-earnings ratio of 17.76 and a beta of 1.14. The company has a current ratio of 1.26, a quick ratio of 1.12 and a debt-to-equity ratio of 1.03. Paramount Skydance Corporation has a 1-year low of $9.95 and a 1-year high of $20.86.

Paramount Skydance (NASDAQ:PSKY - Get Free Report) last announced its earnings results on Wednesday, February 25th. The company reported $999.00 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $999.02. Paramount Skydance had a negative net margin of 2.15% and a positive return on equity of 3.82%. The business had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.17 billion.

Paramount Skydance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 16th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Monday, March 16th. Paramount Skydance's payout ratio is currently 31.75%.

Analyst Ratings Changes

PSKY has been the topic of several analyst reports. Sanford C. Bernstein upped their price target on Paramount Skydance from $11.00 to $12.00 and gave the company an "underperform" rating in a research report on Wednesday, November 12th. Benchmark raised their price objective on shares of Paramount Skydance from $16.00 to $19.00 and gave the company a "buy" rating in a research report on Tuesday, November 11th. TD Cowen reduced their price objective on shares of Paramount Skydance from $15.00 to $13.00 and set a "hold" rating for the company in a research note on Thursday, February 26th. Bank of America upped their target price on shares of Paramount Skydance from $11.00 to $13.00 and gave the stock an "underperform" rating in a report on Tuesday, November 11th. Finally, Wall Street Zen upgraded shares of Paramount Skydance to a "hold" rating in a research note on Saturday, November 15th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and nine have given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Strong Sell" and a consensus price target of $13.15.

About Paramount Skydance

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.

Want to see what other hedge funds are holding PSKY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Paramount Skydance Corporation (NASDAQ:PSKY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.