Paramount Skydance (NASDAQ:PSKY) Reaches New 52-Week Low - Should You Sell?

Key Points

• Paramount Skydance (PSKY) hit a new 52-week low on Monday, trading as low as $8.56 before last changing hands at $8.6150.
• Analyst sentiment remains weak overall: the stock has an average rating of “Reduce” with a $12.00 average price target, and several firms have maintained sell or underweight calls.
• The company recently posted better-than-expected quarterly earnings of $0.23 per share on $7.35 billion in revenue, while institutional investors continue to hold the majority of shares.

Paramount Skydance Corporation (NASDAQ:PSKY - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $8.56 and last traded at $8.6150, with a volume of 3936807 shares changing hands. The stock had previously closed at $8.75.

Wall Street Analyst Weigh In

PSKY has been the subject of a number of research reports. Arete Research reiterated a "sell" rating and set a $2.00 target price on shares of Paramount Skydance in a research report on Thursday, July 9th. Morgan Stanley upgraded shares of Paramount Skydance from an "underweight" rating to an "overweight" rating and upped their price target for the company from $11.00 to $14.00 in a research note on Thursday, April 30th. Guggenheim reduced their price objective on shares of Paramount Skydance from $14.00 to $12.00 and set a "neutral" rating for the company in a research note on Tuesday, May 5th. Weiss Ratings reissued a "sell (d-)" rating on shares of Paramount Skydance in a report on Wednesday, June 24th. Finally, Wells Fargo & Company cut their price target on Paramount Skydance from $8.00 to $7.00 and set an "underweight" rating for the company in a report on Tuesday, May 5th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and nine have given a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Reduce" and an average price target of $12.00.

Paramount Skydance Stock Performance

The stock has a market capitalization of $9.78 billion, a PE ratio of 15.32, a P/E/G ratio of 0.58 and a beta of 1.43. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.10 and a quick ratio of 1.00. The business's fifty day moving average price is $10.09 and its 200-day moving average price is $10.67.

Paramount Skydance (NASDAQ:PSKY - Get Free Report) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.15 by $0.08. The company had revenue of $7.35 billion during the quarter. Paramount Skydance had a negative net margin of 2.08% and a positive return on equity of 4.58%. During the same period in the prior year, the firm posted $0.22 EPS. As a group, equities research analysts expect that Paramount Skydance Corporation will post 0.62 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in PSKY. Handelsbanken Fonder AB increased its holdings in shares of Paramount Skydance by 10.5% in the second quarter. Handelsbanken Fonder AB now owns 318,400 shares of the company's stock worth $3,139,000 after purchasing an additional 30,200 shares during the period. Gradient Investments LLC bought a new stake in Paramount Skydance during the second quarter valued at $2,062,000. Czech National Bank grew its position in Paramount Skydance by 6.1% during the second quarter. Czech National Bank now owns 89,782 shares of the company's stock worth $885,000 after buying an additional 5,141 shares in the last quarter. MTCO Ltd. increased its stake in Paramount Skydance by 21.4% in the 2nd quarter. MTCO Ltd. now owns 7,650,000 shares of the company's stock worth $75,429,000 after acquiring an additional 1,350,000 shares during the last quarter. Finally, CX Institutional increased its stake in Paramount Skydance by 38.1% in the 2nd quarter. CX Institutional now owns 4,612 shares of the company's stock worth $45,000 after acquiring an additional 1,273 shares during the last quarter. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

About Paramount Skydance

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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