Financiere des Professionnels Fonds d investissement inc. Purchases Shares of 179,888 Paramount Skydance Corporation $PSKY

Key Points

• Financiere des Professionnels Fonds d investissement inc. opened a new position in Paramount Skydance, buying 179,888 shares worth about $1.62 million in the first quarter.
• Several other institutional investors also increased their PSKY holdings, and 73% of the stock is owned by institutions and hedge funds.
• Paramount Skydance shares were down 4.3% to $8.75, while analysts remain cautious overall with an average rating of “Reduce” and an average price target of $12.

Financiere des Professionnels Fonds d investissement inc. purchased a new position in shares of Paramount Skydance Corporation (NASDAQ:PSKY - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 179,888 shares of the company's stock, valued at approximately $1,623,000.

A number of other large investors also recently modified their holdings of PSKY. Wealthfront Advisers LLC grew its holdings in shares of Paramount Skydance by 53.3% in the 1st quarter. Wealthfront Advisers LLC now owns 28,974 shares of the company's stock valued at $261,000 after acquiring an additional 10,070 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Paramount Skydance by 35.0% during the first quarter. International Assets Investment Management LLC now owns 12,034 shares of the company's stock worth $111,000 after acquiring an additional 3,120 shares in the last quarter. Pittenger & Anderson Inc. raised its holdings in Paramount Skydance by 18.0% during the first quarter. Pittenger & Anderson Inc. now owns 6,560 shares of the company's stock worth $59,000 after acquiring an additional 1,000 shares in the last quarter. Fifth Third Bancorp raised its holdings in Paramount Skydance by 341.9% during the first quarter. Fifth Third Bancorp now owns 57,837 shares of the company's stock worth $522,000 after acquiring an additional 44,750 shares in the last quarter. Finally, Corrado Advisors LLC acquired a new position in Paramount Skydance during the first quarter valued at approximately $1,254,000. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Paramount Skydance Stock Down 4.3%

PSKY stock opened at $8.75 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.00 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $9.79 billion, a PE ratio of 15.35, a PEG ratio of 0.60 and a beta of 1.43. Paramount Skydance Corporation has a 1-year low of $8.61 and a 1-year high of $20.86. The business's 50 day simple moving average is $10.09 and its 200 day simple moving average is $10.69.

Paramount Skydance (NASDAQ:PSKY - Get Free Report) last announced its earnings results on Monday, May 4th. The company reported $0.23 EPS for the quarter, topping 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 business had revenue of $7.35 billion during the quarter. During the same period in the previous year, the firm posted $0.22 EPS. As a group, research analysts anticipate that Paramount Skydance Corporation will post 0.62 EPS for the current year.

Analyst Ratings Changes

PSKY has been the subject of a number of analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of Paramount Skydance in a research note on Wednesday, June 24th. Morgan Stanley upgraded Paramount Skydance from an "underweight" rating to an "overweight" rating and upped their price objective for the stock from $11.00 to $14.00 in a research note on Thursday, April 30th. Arete Research reissued a "sell" rating and issued a $2.00 price objective on shares of Paramount Skydance in a report on Thursday, July 9th. Wells Fargo & Company decreased their target price on shares of Paramount Skydance from $8.00 to $7.00 and set an "underweight" rating for the company in a research note on Tuesday, May 5th. Finally, Guggenheim lowered their target price on shares of Paramount Skydance from $14.00 to $12.00 and set a "neutral" rating on the stock in a report on Tuesday, May 5th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and nine have given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $12.00.

Paramount Skydance 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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