Gradient Investments LLC Acquires New Position in Paramount Skydance Corporation $PSKY

Key Points

• Gradient Investments acquired 209,173 shares of Paramount Skydance in the second quarter, valued at approximately $2.06 million. Institutional investors collectively own 73% of the company.
• Analyst sentiment remains cautious: PSKY has a consensus “Reduce” rating and an average price target of $11.38, with recent targets ranging from $8 to $16.
• Paramount Skydance exceeded quarterly earnings expectations, reporting $0.18 in EPS versus a $0.15 estimate, and announced a quarterly dividend of $0.05 per share. The proposed Warner Bros. Discovery acquisition received U.K. regulatory approval, but U.S. legal challenges continue to pose closing risks.

Gradient Investments LLC bought a new position in shares of Paramount Skydance Corporation (NASDAQ:PSKY - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 209,173 shares of the company's stock, valued at approximately $2,062,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Paramount Skydance by 0.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 140,776 shares of the company's stock worth $1,886,000 after purchasing an additional 900 shares during the period. 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 purchasing an additional 970 shares during the period. Pittenger & Anderson Inc. raised its position in shares of Paramount Skydance by 18.0% during the 1st 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 period. LSV Asset Management lifted its stake in shares of Paramount Skydance by 0.6% during the 4th quarter. LSV Asset Management now owns 188,868 shares of the company's stock valued at $2,531,000 after buying an additional 1,116 shares in the last quarter. Finally, Huntington National Bank lifted its stake 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. Institutional investors own 73.00% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Guggenheim cut their price target on Paramount Skydance from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, May 5th. Benchmark lowered their price objective on Paramount Skydance from $19.00 to $16.00 and set a "buy" rating on the stock in a research report on Wednesday, August 5th. UBS Group dropped their price objective on Paramount Skydance from $10.00 to $8.00 and set a "sell" rating for the company in a research note on Wednesday. Weiss Ratings upgraded Paramount Skydance from a "sell (d-)" rating to a "sell (d)" rating in a research report on Thursday. Finally, Morgan Stanley raised Paramount Skydance from an "underweight" rating to an "overweight" rating and lifted their target price for the company from $11.00 to $14.00 in a research note on Thursday, April 30th. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and eight have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Reduce" and a consensus price target of $11.38.

Paramount Skydance Price Performance

NASDAQ PSKY opened at $9.19 on Monday. The stock has a 50 day moving average price of $9.50 and a 200-day moving average price of $10.24. Paramount Skydance Corporation has a one year low of $7.62 and a one year high of $20.86. The company has a debt-to-equity ratio of 1.13, a quick ratio of 0.88 and a current ratio of 1.04. The company has a market capitalization of $10.29 billion, a P/E ratio of 16.12, a P/E/G ratio of 0.60 and a beta of 1.45.

Paramount Skydance (NASDAQ:PSKY - Get Free Report) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.03. The company had revenue of $6.91 billion for the quarter. Paramount Skydance had a negative net margin of 2.13% and a positive return on equity of 4.11%. As a group, equities analysts predict that Paramount Skydance Corporation will post 0.64 EPS for the current fiscal year.

Paramount Skydance Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.2%. Paramount Skydance's payout ratio is 35.09%.

Paramount Skydance News Roundup

Here are the key news stories impacting Paramount Skydance this week:

• Positive Sentiment: The U.K. Competition and Markets Authority approved Paramount Skydance’s acquisition of Warner Bros. Discovery, removing a major regulatory hurdle and improving the perceived probability of closing the transaction. UK Competition and Markets Authority Approves Paramount Skydance Corporation Acquisition of Warner Bros. Discovery
• Positive Sentiment: A federal judge dismissed a consumer lawsuit challenging the Paramount-Warner Bros. Discovery deal, reducing one source of legal uncertainty. Judge Dismisses Consumer Lawsuit Challenging Warner Bros. Paramount Deal
• Positive Sentiment: Morgan Stanley initiated or reiterated a “Buy” view on PSKY, providing additional analyst support for the stock. Paramount Skydance Gets a Buy from Morgan Stanley
• Neutral Sentiment: Lionsgate CEO Jon Feltheimer endorsed the merger, arguing that prolonged uncertainty is harmful to the media industry. His comments support management but do not resolve the transaction’s legal obstacles. Paramount-WBD Deal Endorsed by Lionsgate CEO
• Negative Sentiment: The 12 state attorneys general challenging the merger said Paramount’s U.K. concessions strengthen their U.S. lawsuit, keeping a potentially significant closing risk in place. Paramount’s Warner Concessions Give Credibility to U.S. Lawsuit
• Negative Sentiment: Benchmark lowered its expectations for PSKY’s stock price, while Warner Bros. Discovery reported weaker quarterly revenue and profit, highlighting execution and asset-quality concerns surrounding the proposed combination. Benchmark Lowers Expectations for Paramount Skydance Stock

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.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source