1,400,000 Shares in Paramount Skydance Corporation $PSKY Bought by MTCO Ltd.

MTCO Ltd. acquired a new position in Paramount Skydance Corporation (NASDAQ:PSKY) during the third quarter, according to the company in its most recent filing with the SEC. The fund acquired 1,400,000 shares of the company’s stock, valued at approximately $26,488,000. Paramount Skydance makes up 11.3% of MTCO Ltd.’s holdings, making the stock its 2nd biggest holding. MTCO Ltd. owned 0.21% of Paramount Skydance at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New York State Teachers Retirement System acquired a new stake in Paramount Skydance during the 3rd quarter valued at approximately $6,980,000. Evergreen Capital Management LLC purchased a new stake in Paramount Skydance during the 3rd quarter worth approximately $3,696,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Paramount Skydance in the 3rd quarter valued at approximately $6,093,000. Chilton Investment Co. Inc. purchased a new position in shares of Paramount Skydance during the 3rd quarter valued at approximately $2,994,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Paramount Skydance during the third quarter worth approximately $4,740,000. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Skydance Price Performance

PSKY opened at $9.23 on Wednesday. The company has a quick ratio of 1.12, a current ratio of 1.26 and a debt-to-equity ratio of 1.03. The company’s 50-day moving average price is $11.21 and its 200 day moving average price is $14.24. Paramount Skydance Corporation has a fifty-two week low of $9.22 and a fifty-two week high of $20.86. The firm has a market cap of $9.89 billion, a price-to-earnings ratio of 14.65, a price-to-earnings-growth ratio of 0.40 and a beta of 1.15.

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

Paramount Skydance Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 16th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, March 16th. This represents a $0.20 dividend on an annualized basis and a yield of 2.2%. Paramount Skydance’s payout ratio is currently 31.75%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PSKY. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Paramount Skydance in a report on Monday, December 29th. Guggenheim increased their price target on shares of Paramount Skydance from $11.00 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 3rd. Morgan Stanley lifted their price target on Paramount Skydance from $10.00 to $12.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 9th. Wells Fargo & Company began coverage on Paramount Skydance in a research note on Monday, March 9th. They set a “strong sell” rating and a $10.00 price objective on the stock. Finally, Bank of America decreased their target price on Paramount Skydance from $13.00 to $11.00 and set an “underperform” rating for the company in a research report on Tuesday, March 10th. One research analyst has rated the stock with a Buy rating, five have given a Hold rating and nine have given a Sell rating to the stock. According to data from MarketBeat, Paramount Skydance has a consensus rating of “Strong Sell” and a consensus price target of $13.00.

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.