Paramount Skydance Corporation $PSKY Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its holdings in Paramount Skydance Corporation (NASDAQ:PSKY) by 23.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 545,576 shares of the company’s stock after purchasing an additional 105,218 shares during the period. Hsbc Holdings PLC’s holdings in Paramount Skydance were worth $7,312,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. CYBER HORNET ETFs LLC acquired a new stake in Paramount Skydance during the third quarter worth about $25,000. Huntington National Bank lifted its holdings in Paramount Skydance by 108.2% in the fourth quarter. Huntington National Bank now owns 2,259 shares of the company’s stock worth $30,000 after acquiring an additional 1,174 shares during the last quarter. Larson Financial Group LLC boosted its stake in Paramount Skydance by 539.3% in the fourth quarter. Larson Financial Group LLC now owns 2,295 shares of the company’s stock valued at $31,000 after acquiring an additional 1,936 shares during the period. Kelleher Financial Advisors acquired a new position in Paramount Skydance in the third quarter valued at approximately $32,000. Finally, Golden State Wealth Management LLC grew its holdings in shares of Paramount Skydance by 317.3% during the fourth quarter. Golden State Wealth Management LLC now owns 2,863 shares of the company’s stock valued at $38,000 after purchasing an additional 2,177 shares during the last quarter. 73.00% of the stock is owned by institutional investors and hedge funds.

Paramount Skydance Price Performance

Shares of NASDAQ:PSKY opened at $9.75 on Thursday. The stock has a market cap of $10.91 billion, a price-to-earnings ratio of 17.11, a PEG ratio of 0.74 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. Paramount Skydance Corporation has a 12 month low of $8.61 and a 12 month high of $20.86. The stock’s 50 day moving average price is $10.29 and its 200 day moving average price is $10.88.

Paramount Skydance (NASDAQ:PSKY) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.08. Paramount Skydance had a positive return on equity of 4.58% and a negative net margin of 2.08%.The company had revenue of $7.35 billion for the quarter. During the same quarter last year, the business posted $0.22 earnings per share. Equities research analysts anticipate that Paramount Skydance Corporation will post 0.55 earnings per share for the current fiscal year.

Paramount Skydance Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 1st. Investors of record on Monday, June 15th were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $0.20 annualized dividend and a yield of 2.1%. Paramount Skydance’s dividend payout ratio (DPR) is currently 35.09%.

Analysts Set New Price Targets

PSKY has been the topic of a number of research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Paramount Skydance in a research report on Wednesday, June 24th. Guggenheim reduced their price objective on Paramount Skydance from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, May 5th. Wells Fargo & Company lowered their price objective on Paramount Skydance from $8.00 to $7.00 and set an “underweight” rating for the company in a research note on Tuesday, May 5th. Finally, Morgan Stanley raised Paramount Skydance from an “underweight” rating to an “overweight” rating and increased their target price for the stock from $11.00 to $14.00 in a research report on Thursday, April 30th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and eight have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce” and an average price target of $12.77.

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.