Hoertkorn Richard Charles Sells 120,565 Shares of Paramount Skydance Corporation $PSKY

Hoertkorn Richard Charles decreased its holdings in Paramount Skydance Corporation (NASDAQ:PSKY - Free Report) by 43.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 156,158 shares of the company's stock after selling 120,565 shares during the quarter. Paramount Skydance accounts for approximately 1.2% of Hoertkorn Richard Charles' holdings, making the stock its 24th biggest holding. Hoertkorn Richard Charles' holdings in Paramount Skydance were worth $1,409,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. MTCO Ltd. bought a new position in Paramount Skydance during the third quarter worth about $26,488,000. Chilton Investment Co. Inc. bought a new stake in shares of Paramount Skydance in the 3rd quarter valued at approximately $2,994,000. Gamco Investors INC. ET AL acquired a new position in shares of Paramount Skydance in the 3rd quarter worth approximately $1,993,000. SG Americas Securities LLC lifted its position in shares of Paramount Skydance by 56.3% during the 4th quarter. SG Americas Securities LLC now owns 774,273 shares of the company's stock worth $10,375,000 after buying an additional 279,045 shares during the period. Finally, Vanguard Group Inc. lifted its position in shares of Paramount Skydance by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 36,006,077 shares of the company's stock worth $482,481,000 after buying an additional 132,613 shares during the period. 73.00% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PSKY has been the topic of a number of analyst reports. Weiss Ratings reiterated a "sell (d-)" rating on shares of Paramount Skydance in a research report on Wednesday, June 24th. Guggenheim cut their price objective on Paramount Skydance from $14.00 to $12.00 and set a "neutral" rating for the company in a report on Tuesday, May 5th. Wells Fargo & Company reduced their target price on shares of Paramount Skydance from $8.00 to $7.00 and set an "underweight" rating on the stock in a research note on Tuesday, May 5th. Finally, Morgan Stanley upgraded shares of Paramount Skydance from an "underweight" rating to an "overweight" rating and boosted their target price for the company from $11.00 to $14.00 in a research note on Thursday, April 30th. Two 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. According to MarketBeat, Paramount Skydance currently has a consensus rating of "Reduce" and a consensus price target of $12.77.

Paramount Skydance Stock Performance

NASDAQ:PSKY opened at $9.75 on Thursday. Paramount Skydance Corporation has a 1 year low of $8.61 and a 1 year high of $20.86. The firm has a 50 day moving average of $10.29 and a 200-day moving average of $10.88. 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 stock has a market capitalization of $10.91 billion, a P/E ratio of 17.11, a price-to-earnings-growth ratio of 0.74 and a beta of 1.43.

Paramount Skydance (NASDAQ:PSKY - Get Free Report) last released its quarterly earnings results on Monday, May 4th. The company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of $0.15 by $0.08. Paramount Skydance had a positive return on equity of 4.58% and a negative net margin of 2.08%.The business had revenue of $7.35 billion for the quarter. During the same quarter last year, the company earned $0.22 earnings per share. As a group, sell-side analysts anticipate that Paramount Skydance Corporation will post 0.55 EPS for the current fiscal year.

Paramount Skydance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th were paid a $0.05 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.20 dividend on an annualized basis and a yield of 2.1%. Paramount Skydance's payout ratio is currently 35.09%.

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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