PNC Financial Services Group Inc. Purchases New Position in Paramount Skydance Corporation $PSKY

PNC Financial Services Group Inc. acquired a new position in shares of Paramount Skydance Corporation (NASDAQ:PSKY) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 70,792 shares of the company’s stock, valued at approximately $1,339,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Bank Pictet & Cie Europe AG acquired a new stake in shares of Paramount Skydance in the third quarter valued at about $47,983,000. Poehling Capital Management INC. purchased a new position in Paramount Skydance in the 3rd quarter worth approximately $12,003,000. Rhumbline Advisers purchased a new position in Paramount Skydance in the 3rd quarter worth approximately $10,716,000. SG Americas Securities LLC acquired a new stake in Paramount Skydance in the third quarter valued at approximately $9,370,000. Finally, TB Alternative Assets Ltd. purchased a new stake in shares of Paramount Skydance during the third quarter valued at approximately $7,363,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Paramount Skydance Trading Down 1.4%

PSKY opened at $10.56 on Tuesday. Paramount Skydance Corporation has a 12-month low of $9.95 and a 12-month high of $20.86. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.34 and a quick ratio of 1.16. The stock has a market capitalization of $11.32 billion, a PE ratio of -351.88 and a beta of 1.24. The firm’s fifty day moving average price is $11.95 and its 200 day moving average price is $14.60.

Paramount Skydance Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 16th will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date is Monday, March 16th. Paramount Skydance’s dividend payout ratio is -666.67%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PSKY shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Paramount Skydance in a research report on Monday, December 29th. Wolfe Research reaffirmed an “underperform” rating and set a $13.00 price target on shares of Paramount Skydance in a research note on Monday, December 15th. JPMorgan Chase & Co. upped their price objective on shares of Paramount Skydance from $10.00 to $14.00 and gave the company an “underweight” rating in a research report on Tuesday, November 4th. Benchmark raised their target price on Paramount Skydance from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Finally, Zacks Research raised Paramount Skydance from a “strong sell” rating to a “hold” rating in a research report on Friday, February 6th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and eight have issued a Sell rating to the stock. According to MarketBeat.com, Paramount Skydance currently has a consensus rating of “Reduce” and a consensus target price of $14.00.

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.