Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of Paramount Skydance Corporation (NASDAQ:PSKY - Free Report) by 40.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 164,249 shares of the company's stock after selling 109,883 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in Paramount Skydance were worth $2,201,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Camelot Portfolios LLC acquired a new position in Paramount Skydance during the fourth quarter valued at $113,000. Pictet Asset Management Holding SA lifted its position in Paramount Skydance by 5.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 63,335 shares of the company's stock valued at $849,000 after purchasing an additional 3,147 shares during the period. Sanctuary Advisors LLC lifted its position in Paramount Skydance by 26.9% during the fourth quarter. Sanctuary Advisors LLC now owns 28,079 shares of the company's stock valued at $376,000 after purchasing an additional 5,953 shares during the period. Vanguard Group Inc. lifted its position in Paramount Skydance by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 36,006,077 shares of the company's stock valued at $482,481,000 after purchasing an additional 132,613 shares during the period. Finally, Concurrent Investment Advisors LLC acquired a new position in Paramount Skydance during the fourth quarter valued at $201,000. 73.00% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of research firms recently issued reports on PSKY. Guggenheim boosted their target price on shares of Paramount Skydance from $11.00 to $14.00 and gave the company a "neutral" rating in a research report on Tuesday, March 3rd. Morgan Stanley upgraded shares of 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 report on Thursday. Wells Fargo & Company decreased their price objective on shares of Paramount Skydance from $10.00 to $8.00 and set an "underweight" rating for the company in a research report on Thursday, April 2nd. TD Cowen decreased 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 report on Thursday, February 26th. Finally, Zacks Research upgraded shares of Paramount Skydance from a "strong sell" rating to a "hold" rating in a research report on Friday, February 6th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and eight have assigned a Sell rating to the company's stock. According to MarketBeat, Paramount Skydance currently has an average rating of "Reduce" and an average target price of $13.00.
Get Our Latest Analysis on PSKY
Key Paramount Skydance News
Here are the key news stories impacting Paramount Skydance this week:
Paramount Skydance Trading Up 0.4%
Shares of Paramount Skydance stock opened at $11.13 on Tuesday. The firm has a 50-day simple moving average of $10.51 and a two-hundred day simple moving average of $12.58. The company has a market cap of $12.37 billion, a P/E ratio of 17.67, a price-to-earnings-growth ratio of 0.56 and a beta of 1.43. Paramount Skydance Corporation has a fifty-two week low of $8.61 and a fifty-two week high of $20.86. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.12 and a current ratio of 1.26.
Paramount Skydance (NASDAQ:PSKY - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.08. The business had revenue of $7.35 billion during the quarter. Paramount Skydance had a negative net margin of 2.15% and a positive return on equity of 3.82%. During the same quarter last year, the company posted $0.22 EPS. As a group, equities analysts predict that Paramount Skydance Corporation will post 0.79 earnings per share for the current fiscal year.
Paramount Skydance Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.8%. Paramount Skydance's payout ratio is currently 31.75%.
Paramount Skydance Company Profile
(
Free Report)
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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