Short Interest in Paramount Skydance Corporation (NASDAQ:PSKY) Expands By 17.4%

Key Points

• Short interest jumped 17.4% in February to 59,895,714 shares (about 5.6% of the stock) and a short-interest ratio of 3.3 days, signaling rising bearish bets on PSKY.
• MarketBeat shows a consensus rating of Strong Sell with an average price target of $13.00, based on 1 Buy, 5 Hold and 9 Sell analyst ratings.
• Despite heavy shorting, institutional ownership is high at 73%, with large new Q3 stakes reported from Vanguard, State Street, Invesco, Barclays and Contrarius.

Paramount Skydance Corporation (NASDAQ:PSKY - Get Free Report) was the recipient of a significant growth in short interest in the month of February. As of February 27th, there was short interest totaling 59,895,714 shares, a growth of 17.4% from the February 12th total of 51,002,161 shares. Based on an average daily volume of 18,303,927 shares, the short-interest ratio is presently 3.3 days. Currently, 5.6% of the company's stock are sold short. Currently, 5.6% of the company's stock are sold short. Based on an average daily volume of 18,303,927 shares, the short-interest ratio is presently 3.3 days.

Analyst Ratings Changes

Several research firms recently issued reports on PSKY. Wolfe Research reissued an "underperform" rating and issued a $13.00 price target on shares of Paramount Skydance in a research report on Monday, December 15th. Zacks Research raised shares of Paramount Skydance from a "strong sell" rating to a "hold" rating in a research report on Friday, February 6th. Bank of America dropped their price target on shares of Paramount Skydance from $13.00 to $11.00 and set an "underperform" rating on the stock in a research report on Tuesday, March 10th. Guggenheim boosted their price objective on Paramount Skydance from $11.00 to $14.00 and gave the stock a "neutral" rating in a report on Tuesday, March 3rd. Finally, Morgan Stanley lifted their target price on Paramount Skydance from $10.00 to $12.00 and gave the company an "underweight" rating in a research report on Tuesday, December 9th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and nine have given a Sell rating to the stock. Based on data from MarketBeat.com, Paramount Skydance currently has a consensus rating of "Strong Sell" and an average price target of $13.00.

Institutional Investors Weigh In On Paramount Skydance

A number of hedge funds have recently modified their holdings of PSKY. Vanguard Group Inc. bought a new position in Paramount Skydance during the third quarter valued at $678,726,000. State Street Corp purchased a new position in shares of Paramount Skydance during the 3rd quarter valued at $524,371,000. Invesco Ltd. purchased a new position in shares of Paramount Skydance during the 3rd quarter valued at $288,551,000. Barclays PLC bought a new position in shares of Paramount Skydance during the 3rd quarter worth $258,196,000. Finally, Contrarius Group Holdings Ltd bought a new position in shares of Paramount Skydance during the 3rd quarter worth $186,674,000. Institutional investors own 73.00% of the company's stock.

Paramount Skydance Stock Performance

Shares of PSKY traded down $0.06 on Monday, reaching $9.67. 6,047,680 shares of the company's stock traded hands, compared to its average volume of 11,387,904. The stock's 50 day simple moving average is $11.34 and its two-hundred day simple moving average is $14.31. The stock has a market cap of $10.36 billion, a PE ratio of 15.29, a PEG ratio of 0.41 and a beta of 1.14. Paramount Skydance has a 52-week low of $9.50 and a 52-week 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.

Paramount Skydance (NASDAQ:PSKY - Get Free Report) last announced its earnings results on Wednesday, February 25th. The company reported $999.00 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $999.02. The firm 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%.

Paramount Skydance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 16th will be given a $0.05 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a $0.20 annualized dividend and a yield of 2.1%. Paramount Skydance's payout ratio is currently 31.75%.

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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