Watts Gwilliam & Co. LLC Acquires New Position in Paramount Skydance Corporation $PSKY

Watts Gwilliam & Co. LLC acquired a new stake in Paramount Skydance Corporation (NASDAQ:PSKY) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 96,714 shares of the company’s stock, valued at approximately $1,830,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cullen Investment Group LTD. acquired a new stake in shares of Paramount Skydance in the 3rd quarter valued at approximately $462,000. Czech National Bank purchased a new stake in shares of Paramount Skydance in the third quarter valued at approximately $1,484,000. Wedmont Private Capital acquired a new position in Paramount Skydance during the third quarter worth $261,000. Hedges Asset Management LLC acquired a new position in Paramount Skydance during the third quarter worth $248,000. Finally, Contravisory Investment Management Inc. purchased a new position in Paramount Skydance in the third quarter worth $751,000. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Skydance Stock Performance

Shares of PSKY stock opened at $9.23 on Wednesday. The stock has a fifty day moving average price of $11.21 and a 200 day moving average price of $14.24. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.12 and a current ratio of 1.26. The stock has a market cap of $9.89 billion, a PE ratio of 14.65, a P/E/G ratio of 0.40 and a beta of 1.15. Paramount Skydance Corporation has a 1 year low of $9.22 and a 1 year high of $20.86.

Paramount Skydance (NASDAQ:PSKY) last posted its earnings results on Wednesday, February 25th. The company reported $999.00 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $999.02. Paramount Skydance had a positive return on equity of 3.82% and a negative net margin of 2.15%.The company had revenue of $8.15 billion for the quarter, compared to analyst estimates of $8.17 billion.

Paramount Skydance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors 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 yield of 2.2%. The ex-dividend date of this dividend is Monday, March 16th. Paramount Skydance’s dividend payout ratio is presently 31.75%.

Analyst Upgrades and Downgrades

PSKY has been the topic of several research analyst reports. Wolfe Research restated an “underperform” rating and set a $13.00 target price on shares of Paramount Skydance in a research report on Monday, December 15th. Wells Fargo & Company started coverage on shares of Paramount Skydance in a report on Monday, March 9th. They issued a “strong sell” rating and a $10.00 price target for the company. Bank of America reduced their price objective on shares of Paramount Skydance from $13.00 to $11.00 and set an “underperform” rating for the company in a research note on Tuesday, March 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Paramount Skydance in a research report on Monday, December 29th. Finally, TD Cowen dropped their target price on shares of Paramount Skydance from $15.00 to $13.00 and set a “hold” rating for the company in a report on Thursday, February 26th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and nine have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Strong Sell” and a consensus price target of $13.00.

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.