Vanguard Group Inc. Acquires Shares of 35,873,464 Paramount Skydance Corporation $PSKY

Vanguard Group Inc. purchased a new position in Paramount Skydance Corporation (NASDAQ:PSKY) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 35,873,464 shares of the company’s stock, valued at approximately $678,726,000. Vanguard Group Inc. owned 5.32% of Paramount Skydance at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Center for Financial Planning Inc. acquired a new position in Paramount Skydance during the 3rd quarter valued at about $35,000. Versant Capital Management Inc purchased a new position in shares of Paramount Skydance in the third quarter valued at approximately $39,000. Addison Advisors LLC acquired a new stake in shares of Paramount Skydance in the third quarter worth approximately $42,000. Private Trust Co. NA acquired a new position in Paramount Skydance in the 3rd quarter valued at $47,000. Finally, Guerra Advisors Inc acquired a new position in Paramount Skydance during the third quarter worth about $48,000. 73.00% of the stock is currently owned by institutional investors.

Paramount Skydance Price Performance

Paramount Skydance stock opened at $10.56 on Tuesday. The business has a 50 day simple moving average of $11.95 and a 200-day simple moving average of $14.60. 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.

Paramount Skydance Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PSKY. Wolfe Research reaffirmed an “underperform” rating and issued a $13.00 target price on shares of Paramount Skydance in a research note on Monday, December 15th. JPMorgan Chase & Co. increased their target price on shares of Paramount Skydance from $10.00 to $14.00 and gave the stock an “underweight” rating in a research note on Tuesday, November 4th. Bank of America boosted their price target on shares of Paramount Skydance from $11.00 to $13.00 and gave the company an “underperform” rating in a research note on Tuesday, November 11th. Benchmark boosted their target price on Paramount Skydance from $16.00 to $19.00 and gave the company a “buy” rating in a research report on Tuesday, November 11th. Finally, Zacks Research upgraded Paramount Skydance from a “strong sell” rating to a “hold” rating in a report on Friday, February 6th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and eight have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Reduce” and an average price target 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.