Paramount Skydance Corporation $PSKY Shares Acquired by Contrarius Group Holdings Ltd

Contrarius Group Holdings Ltd lifted its stake in shares of Paramount Skydance Corporation (NASDAQ:PSKY) by 52.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,088,097 shares of the company’s stock after acquiring an additional 5,221,622 shares during the quarter. Paramount Skydance comprises about 9.8% of Contrarius Group Holdings Ltd’s investment portfolio, making the stock its 3rd biggest holding. Contrarius Group Holdings Ltd’s holdings in Paramount Skydance were worth $202,180,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. increased its stake in shares of Paramount Skydance by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 36,006,077 shares of the company’s stock valued at $482,481,000 after acquiring an additional 132,613 shares during the period. State Street Corp acquired a new position in shares of Paramount Skydance during the third quarter valued at approximately $524,371,000. Invesco Ltd. bought a new stake in shares of Paramount Skydance in the 3rd quarter worth $288,551,000. Barclays PLC bought a new stake in shares of Paramount Skydance in the 3rd quarter worth $258,196,000. Finally, Amundi bought a new stake in shares of Paramount Skydance in the 3rd quarter worth $80,539,000. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Skydance Stock Performance

Shares of NASDAQ PSKY opened at $10.22 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.10 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $11.44 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 0.76 and a beta of 1.43. The stock’s fifty day simple moving average is $10.50 and its 200 day simple moving average is $11.66. Paramount Skydance Corporation has a 52-week low of $8.61 and a 52-week high of $20.86.

Paramount Skydance (NASDAQ:PSKY) last issued its earnings results on Monday, May 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the firm earned $0.22 earnings per share. As a group, sell-side analysts forecast that Paramount Skydance Corporation will post 0.55 earnings per share for the current fiscal year.

Paramount Skydance Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.0%. The ex-dividend date is Monday, June 15th. Paramount Skydance’s payout ratio is presently 35.09%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PSKY. Bank of America dropped 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. Morgan Stanley raised shares of Paramount Skydance from an “underweight” rating to an “overweight” rating and upped their price target for the company from $11.00 to $14.00 in a report on Thursday, April 30th. Guggenheim cut their price target on shares of Paramount Skydance from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, May 5th. Wells Fargo & Company cut their price target on shares of Paramount Skydance from $8.00 to $7.00 and set an “underweight” rating for the company in a report on Tuesday, May 5th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Paramount Skydance in a report on Friday, March 27th. Two analysts have rated the stock with a Buy rating, five have assigned a Hold rating and eight have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target 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.