Handelsbanken Fonder AB Grows Stake in Paramount Skydance Corporation $PSKY

Handelsbanken Fonder AB boosted its position in shares of Paramount Skydance Corporation (NASDAQ:PSKY) by 72.4% during the 4th quarter, HoldingsChannel reports. The firm owned 272,700 shares of the company’s stock after buying an additional 114,500 shares during the period. Handelsbanken Fonder AB’s holdings in Paramount Skydance were worth $3,654,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Paramount Skydance by 0.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 140,776 shares of the company’s stock worth $1,886,000 after purchasing an additional 900 shares during the period. CWM LLC increased its holdings in Paramount Skydance by 20.3% during the 4th quarter. CWM LLC now owns 5,759 shares of the company’s stock worth $77,000 after purchasing an additional 970 shares during the period. Mather Group LLC. increased its holdings in Paramount Skydance by 6.3% during the 4th quarter. Mather Group LLC. now owns 17,137 shares of the company’s stock worth $230,000 after purchasing an additional 1,009 shares during the period. Perigon Wealth Management LLC increased its holdings in Paramount Skydance by 5.2% during the 4th quarter. Perigon Wealth Management LLC now owns 24,853 shares of the company’s stock worth $333,000 after purchasing an additional 1,227 shares during the period. Finally, CYBER HORNET ETFs LLC purchased a new position in Paramount Skydance during the 3rd quarter worth $25,000. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Skydance Stock Up 1.8%

Shares of NASDAQ PSKY opened at $10.46 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.00 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $11.71 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 0.79 and a beta of 1.43. The stock’s fifty day simple moving average is $10.24 and its two-hundred day simple moving average is $12.02. Paramount Skydance Corporation has a 12-month low of $8.61 and a 12-month high of $20.86.

Paramount Skydance (NASDAQ:PSKY) last announced its earnings results on Monday, May 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.08. The business had revenue of $7.35 billion for the quarter. Paramount Skydance had a positive return on equity of 4.58% and a negative net margin of 2.08%.During the same period last year, the business posted $0.22 EPS. As a group, analysts expect that Paramount Skydance Corporation will post 0.54 EPS for the current fiscal year.

Paramount Skydance Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Monday, June 15th. Paramount Skydance’s dividend payout ratio (DPR) is 35.09%.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Guggenheim reduced their price objective on Paramount Skydance from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, May 5th. TD Cowen reduced their price objective on Paramount Skydance from $15.00 to $13.00 and set a “hold” rating on the stock in a report on Thursday, February 26th. Zacks Research upgraded Paramount Skydance from a “strong sell” rating to a “hold” rating in a report on Friday, February 6th. 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 report on Tuesday, March 10th. Finally, Morgan Stanley raised Paramount Skydance from an “underweight” rating to an “overweight” rating and increased their target price for the company from $11.00 to $14.00 in a research report on Thursday, April 30th. Two investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and eight have given a Sell rating to the company. Based on data from MarketBeat, Paramount Skydance currently has a consensus rating of “Reduce” and a consensus target price of $12.77.

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.