Hoertkorn Richard Charles Buys New Stake in Paramount Skydance Corporation $PSKY

Key Points

• Hoertkorn Richard Charles bought a new stake of 276,723 shares (approximately $3.71 million) in Paramount Skydance, representing about 1.4% of his holdings and making PSKY his 19th largest position.
• Institutional investors own roughly 73% of PSKY, and several funds (including Zurcher Kantonalbank, Mirae Asset and U.S. Capital Wealth Advisors) increased or initiated positions in the fourth quarter.
• Equity analysts have a consensus rating of Strong Sell with an average target price of $12.85; the street breakdown is 1 Buy, 5 Hold and 9 Sell, with recent targets ranging roughly from $8 to $15.

Hoertkorn Richard Charles bought a new stake in shares of Paramount Skydance Corporation (NASDAQ:PSKY - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 276,723 shares of the company's stock, valued at approximately $3,708,000. Paramount Skydance comprises about 1.4% of Hoertkorn Richard Charles' holdings, making the stock its 19th biggest position.

Other hedge funds also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings 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 acquiring an additional 900 shares during the last quarter. Institute for Wealth Management LLC. acquired a new stake in shares of Paramount Skydance during the fourth quarter valued at $335,000. Mirae Asset Global Investments Co. Ltd. increased its position in Paramount Skydance by 23.5% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 60,268 shares of the company's stock worth $808,000 after purchasing an additional 11,449 shares in the last quarter. CWM LLC raised its stake in Paramount Skydance by 20.3% in 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 last quarter. Finally, U.S. Capital Wealth Advisors LLC raised its stake in Paramount Skydance by 4.2% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 158,384 shares of the company's stock valued at $2,122,000 after purchasing an additional 6,380 shares during the last quarter. Hedge funds and other institutional investors own 73.00% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Weiss Ratings reiterated a "sell (d-)" rating on shares of Paramount Skydance in a report on Friday, March 27th. Guggenheim raised their target price on shares of Paramount Skydance from $11.00 to $14.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 3rd. Wells Fargo & Company lowered their target price on shares of Paramount Skydance from $10.00 to $8.00 and set an "underweight" rating for the company in a research note on Thursday, April 2nd. TD Cowen cut their price target on Paramount Skydance from $15.00 to $13.00 and set a "hold" rating for the company in a report on Thursday, February 26th. Finally, Zacks Research raised Paramount Skydance from a "strong sell" rating to a "hold" rating in a research note on Friday, February 6th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and nine have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Strong Sell" and an average target price of $12.85.

Paramount Skydance Price Performance

Shares of Paramount Skydance stock opened at $11.82 on Tuesday. The business's fifty day moving average price is $10.48 and its 200 day moving average price is $12.99. Paramount Skydance Corporation has a twelve month low of $8.61 and a twelve month high of $20.86. The company has a current ratio of 1.26, a quick ratio of 1.12 and a debt-to-equity ratio of 1.03. The stock has a market capitalization of $13.14 billion, a P/E ratio of 18.76, a PEG ratio of 0.59 and a beta of 1.37.

Paramount Skydance (NASDAQ:PSKY - Get Free Report) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $999.00 EPS for the quarter, topping the consensus estimate of ($0.02) by $999.02. The company had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.17 billion. Paramount Skydance had a positive return on equity of 3.82% and a negative net margin of 2.15%. As a group, research analysts anticipate that Paramount Skydance Corporation will post 0.79 earnings per share for the current year.

Paramount Skydance Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Investors of record on Monday, June 15th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Monday, June 15th. Paramount Skydance's dividend payout ratio is 31.75%.

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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