Paramount Skydance Corporation (NASDAQ:PSKY) Sees Large Increase in Short Interest

Paramount Skydance Corporation (NASDAQ:PSKY) was the recipient of a significant growth in short interest in February. As of February 27th, there was short interest totaling 59,895,714 shares, a growth of 17.4% from the February 12th total of 51,002,161 shares. Approximately 5.6% of the company’s stock are short sold. Based on an average daily volume of 18,303,927 shares, the short-interest ratio is presently 3.3 days. Based on an average daily volume of 18,303,927 shares, the short-interest ratio is presently 3.3 days. Approximately 5.6% of the company’s stock are short sold.

Paramount Skydance Stock Up 0.5%

Shares of PSKY traded up $0.05 during midday trading on Tuesday, reaching $9.55. The stock had a trading volume of 2,692,992 shares, compared to its average volume of 11,360,551. The company has a market cap of $10.23 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 0.41 and a beta of 1.15. The company’s fifty day simple moving average is $11.27 and its two-hundred day simple moving average is $14.27. Paramount Skydance has a 1-year low of $9.46 and a 1-year high of $20.86. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.26 and a quick ratio of 1.12.

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

Paramount Skydance Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors 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 2.1%. The ex-dividend date of this dividend is Monday, March 16th. Paramount Skydance’s dividend payout ratio is 31.75%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Zacks Research upgraded shares of Paramount Skydance from a “strong sell” rating to a “hold” rating in a report on Friday, February 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Paramount Skydance in a research report on Monday, December 29th. Bank of America reduced their price objective on Paramount Skydance from $13.00 to $11.00 and set an “underperform” rating on the stock in a research note on Tuesday, March 10th. Wolfe Research reiterated an “underperform” rating and issued a $13.00 target price on shares of Paramount Skydance in a report on Monday, December 15th. Finally, Wells Fargo & Company assumed coverage on Paramount Skydance in a research note on Monday, March 9th. They set a “strong sell” rating and a $10.00 target price for the company. One analyst has rated the stock with a Buy rating, five have given a Hold rating and nine have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Strong Sell” and an average price target of $13.00.

Hedge Funds Weigh In On Paramount Skydance

Several hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Paramount Skydance by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 36,006,077 shares of the company’s stock worth $482,481,000 after buying an additional 132,613 shares during the last quarter. State Street Corp purchased a new position in shares of Paramount Skydance in the 3rd quarter valued at $524,371,000. Invesco Ltd. raised its stake in Paramount Skydance by 1.0% during the 4th quarter. Invesco Ltd. now owns 15,406,791 shares of the company’s stock worth $206,451,000 after acquiring an additional 155,679 shares in the last quarter. Contrarius Group Holdings Ltd lifted its position in Paramount Skydance by 52.9% in the fourth quarter. Contrarius Group Holdings Ltd now owns 15,088,097 shares of the company’s stock valued at $202,180,000 after acquiring an additional 5,221,622 shares during the last quarter. Finally, Barclays PLC purchased a new stake in Paramount Skydance in the third quarter valued at $258,196,000. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

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.