Stock Traders Purchase High Volume of Paramount Skydance Call Options (NASDAQ:PSKY)

Key Points

• Paramount Skydance call-option activity surged: Traders purchased 91,234 call options, roughly 265% above the typical volume of 24,995. Shares rose 1.3% to $10.56 during Wednesday trading.
• The company reported quarterly EPS of $0.18, beating estimates by $0.03, on revenue of $6.91 billion. It also declared a quarterly dividend of $0.05 per share, equivalent to a 1.9% annualized yield.
• Analyst sentiment remains cautious, with two Buy, five Hold and eight Sell ratings; the consensus rating is “Reduce” and the average price target is $11.38. Several firms recently cut their targets, including UBS to $8 and Wells Fargo to $7.

Paramount Skydance Corporation (NASDAQ:PSKY - Get Free Report) was the recipient of unusually large options trading on Wednesday. Stock traders acquired 91,234 call options on the company. This is an increase of approximately 265% compared to the typical volume of 24,995 call options.

Paramount Skydance Trading Up 1.3%

Shares of NASDAQ:PSKY traded up $0.13 during trading on Wednesday, reaching $10.56. The company's stock had a trading volume of 6,774,242 shares, compared to its average volume of 10,881,972. The stock has a market capitalization of $11.85 billion, a PE ratio of 36.33, a price-to-earnings-growth ratio of 0.65 and a beta of 1.45. Paramount Skydance has a 12 month low of $7.62 and a 12 month high of $20.86. 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 firm's 50 day simple moving average is $9.41 and its two-hundred day simple moving average is $10.15.

Paramount Skydance (NASDAQ:PSKY - Get Free Report) last posted its quarterly earnings data on Tuesday, August 4th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $6.91 billion during the quarter. On average, research analysts predict that Paramount Skydance will post 0.58 EPS for the current fiscal year.

Paramount Skydance Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.9%. Paramount Skydance's payout ratio is currently 68.97%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. CYBER HORNET ETFs LLC bought a new stake in shares of Paramount Skydance during the third quarter worth $25,000. Kelleher Financial Advisors purchased a new position in Paramount Skydance in the 3rd quarter worth about $32,000. Huntington National Bank lifted its holdings in Paramount Skydance by 108.2% during the 4th quarter. Huntington National Bank now owns 2,259 shares of the company's stock valued at $30,000 after buying an additional 1,174 shares in the last quarter. Larson Financial Group LLC boosted its position in Paramount Skydance by 539.3% in the 4th quarter. Larson Financial Group LLC now owns 2,295 shares of the company's stock valued at $31,000 after buying an additional 1,936 shares during the period. Finally, Golden State Wealth Management LLC grew its stake in Paramount Skydance by 317.3% in the 4th quarter. Golden State Wealth Management LLC now owns 2,863 shares of the company's stock worth $38,000 after acquiring an additional 2,177 shares in the last quarter. Institutional investors own 73.00% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on PSKY. Guggenheim decreased their target price on Paramount Skydance from $14.00 to $12.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 5th. TD Cowen lowered their target price on shares of Paramount Skydance from $13.00 to $8.00 and set a "hold" rating on the stock in a report on Wednesday, August 5th. UBS Group reduced their price target on shares of 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 upgraded shares of Paramount Skydance from a "sell (d-)" rating to a "sell (d)" rating in a research note on Thursday, August 6th. Finally, Wells Fargo & Company reduced their target price on Paramount Skydance from $8.00 to $7.00 and set an "underweight" rating on the stock in a report on Tuesday, May 5th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and eight have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Reduce" and a consensus price target of $11.38.

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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