Wellington Management Group LLP Makes New $3.23 Million Investment in Paramount Skydance Corporation $PSKY

Key Points

• Wellington Management bought 327,700 shares of Paramount Skydance in the second quarter, valued at approximately $3.23 million. Hedge funds and institutional investors collectively own 73% of the company.
• Paramount Skydance reported quarterly revenue of $6.91 billion and adjusted earnings of $0.18 per share, exceeding analysts’ estimate of $0.15. The company also declared a quarterly dividend of $0.05 per share, representing a 2% annualized yield.
• Analyst sentiment remains cautious: the stock has a consensus rating of “Reduce”, with 8 Sell, 5 Hold, and 2 Buy ratings and an average price target of $11.38.

Wellington Management Group LLP purchased a new stake in Paramount Skydance Corporation (NASDAQ:PSKY - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 327,700 shares of the company's stock, valued at approximately $3,231,000.

Several other large investors have also modified their holdings of PSKY. Pittenger & Anderson Inc. grew its holdings in Paramount Skydance by 18.0% in the first 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 boosted its holdings in shares of Paramount Skydance by 0.6% in the 4th quarter. LSV Asset Management now owns 188,868 shares of the company's stock valued at $2,531,000 after purchasing an additional 1,116 shares during the last quarter. Huntington National Bank boosted its holdings in shares of Paramount Skydance by 108.2% in the 4th quarter. Huntington National Bank now owns 2,259 shares of the company's stock valued at $30,000 after purchasing an additional 1,174 shares during the last quarter. CX Institutional grew its stake in shares of Paramount Skydance by 38.1% during the 2nd quarter. CX Institutional now owns 4,612 shares of the company's stock valued at $45,000 after buying an additional 1,273 shares during the period. Finally, CYBER HORNET ETFs LLC purchased a new stake in shares of Paramount Skydance during the 3rd quarter valued at $25,000. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Skydance Stock Down 5.4%

Shares of NASDAQ PSKY opened at $10.22 on Thursday. Paramount Skydance Corporation has a 12-month low of $7.62 and a 12-month high of $20.86. The company has a market cap of $11.47 billion, a P/E ratio of 35.24, a P/E/G ratio of 1.03 and a beta of 1.50. The company has a current ratio of 1.04, a quick ratio of 0.88 and a debt-to-equity ratio of 1.13. The stock has a fifty day moving average price of $9.62 and a 200 day moving average price of $10.14.

Paramount Skydance (NASDAQ:PSKY - Get Free Report) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.18 EPS for the quarter, topping analysts' consensus estimates of $0.15 by $0.03. Paramount Skydance had a positive return on equity of 4.11% and a negative net margin of 2.13%.The company had revenue of $6.91 billion for the quarter. Research analysts anticipate that Paramount Skydance Corporation will post 0.56 EPS for the current fiscal year.

Paramount Skydance Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.20 annualized dividend and a yield of 2.0%. Paramount Skydance's payout ratio is 68.97%.

Analyst Upgrades and Downgrades

PSKY has been the topic of several research reports. Benchmark cut their target price 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. Arete Research restated a "sell" rating and set a $2.00 price target on shares of Paramount Skydance in a research note on Thursday, July 9th. UBS Group cut their price objective on Paramount Skydance from $10.00 to $8.00 and set a "sell" rating on the stock in a report on Wednesday, August 5th. Weiss Ratings raised Paramount Skydance from a "sell (d-)" rating to a "sell (d)" rating in a research note on Thursday, August 6th. Finally, TD Cowen decreased their target price on Paramount Skydance from $13.00 to $8.00 and set a "hold" rating for the company in a report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and eight have given a Sell rating to the company. According to MarketBeat.com, Paramount Skydance has a consensus rating of "Reduce" and an average target price of $11.38.

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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