Gabelli Funds LLC Acquires New Holdings in Paramount Skydance Corporation $PSKY

Key Points

• Gabelli Funds LLC bought 356,500 shares of Paramount Skydance (PSKY) in the third quarter — about $6.745 million — and multiple other institutions also initiated positions, leaving roughly 73% of the stock owned by institutional investors.
• Analyst sentiment is largely negative: one Buy, five Hold and nine Sell ratings, with an average consensus of "Strong Sell" and a $13.15 price target.
• Shares opened at $11.19 (recently down 6.7%), the company has a market cap of about $11.99 billion, declared a $0.05 quarterly dividend (1.8% yield), and reported $8.15 billion in quarterly revenue with a negative net margin of 2.15%.

Gabelli Funds LLC bought a new stake in Paramount Skydance Corporation (NASDAQ:PSKY - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 356,500 shares of the company's stock, valued at approximately $6,745,000. Gabelli Funds LLC owned about 0.05% of Paramount Skydance at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. New York State Teachers Retirement System acquired a new stake in Paramount Skydance in the 3rd quarter valued at approximately $6,980,000. Evergreen Capital Management LLC acquired a new position in Paramount Skydance during the third quarter worth $3,696,000. Y Intercept Hong Kong Ltd acquired a new position in Paramount Skydance during the third quarter worth $6,093,000. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Paramount Skydance during the third quarter worth $4,740,000. Finally, SOL Capital Management CO acquired a new stake in shares of Paramount Skydance in the third quarter valued at $3,309,000. 73.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PSKY has been the topic of several research analyst reports. Bank of America boosted their price objective on Paramount Skydance from $11.00 to $13.00 and gave the company an "underperform" rating in a report on Tuesday, November 11th. Wolfe Research reiterated an "underperform" rating and set a $13.00 price target on shares of Paramount Skydance in a research note on Monday, December 15th. Benchmark increased their price target on shares of Paramount Skydance from $16.00 to $19.00 and gave the stock a "buy" rating in a research report on Tuesday, November 11th. TD Cowen lowered 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. Finally, Morgan Stanley lifted their price objective on shares of Paramount Skydance from $10.00 to $12.00 and gave the company an "underweight" rating in a report on Tuesday, December 9th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and nine have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Strong Sell" and a consensus price target of $13.15.

Paramount Skydance Stock Down 6.7%

Shares of Paramount Skydance stock opened at $11.19 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.26 and a debt-to-equity ratio of 1.03. Paramount Skydance Corporation has a 52-week low of $9.95 and a 52-week high of $20.86. The company has a market capitalization of $11.99 billion, a P/E ratio of 17.76 and a beta of 1.14. The company has a 50 day moving average of $11.61 and a 200 day moving average of $14.47.

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

Paramount Skydance Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 16th will be paid a $0.05 dividend. The ex-dividend date is Monday, March 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.8%. Paramount Skydance's dividend payout ratio (DPR) is currently 31.75%.

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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