Contravisory Investment Management Inc. Makes New Investment in Paramount Skydance Corporation $PSKY

Contravisory Investment Management Inc. purchased a new stake in shares of Paramount Skydance Corporation (NASDAQ:PSKY) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 39,682 shares of the company’s stock, valued at approximately $751,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PSKY. Czech National Bank acquired a new stake in Paramount Skydance in the 3rd quarter valued at approximately $1,484,000. Cullen Investment Group LTD. acquired a new position in shares of Paramount Skydance during the third quarter valued at $462,000. Wedmont Private Capital acquired a new position in shares of Paramount Skydance during the third quarter valued at $261,000. Finally, Hedges Asset Management LLC bought a new stake in shares of Paramount Skydance during the third quarter valued at about $248,000. 73.00% of the stock is owned by institutional investors.

Paramount Skydance Stock Down 0.7%

NASDAQ:PSKY opened at $13.01 on Friday. The company has a 50 day moving average price of $15.53. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.16 and a current ratio of 1.34. Paramount Skydance Corporation has a 12 month low of $9.95 and a 12 month high of $20.86. The company has a market capitalization of $13.94 billion, a price-to-earnings ratio of -433.52 and a beta of 1.16.

Paramount Skydance (NASDAQ:PSKY) last posted its quarterly earnings data on Monday, November 10th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.37). The firm had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.79 billion. Paramount Skydance had a positive return on equity of 3.95% and a negative net margin of 0.95%.Paramount Skydance’s quarterly revenue was up 0% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 earnings per share.

Paramount Skydance Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 2nd. Stockholders of record on Thursday, December 18th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Thursday, December 18th. Paramount Skydance’s dividend payout ratio (DPR) is currently -666.67%.

Analysts Set New Price Targets

PSKY has been the subject of several research reports. Guggenheim restated a “neutral” rating and set a $16.00 price objective on shares of Paramount Skydance in a research report on Wednesday, November 12th. Argus began coverage on shares of Paramount Skydance in a research note on Monday, October 13th. They set a “hold” rating and a $17.00 target price for the company. Morgan Stanley raised their target price on shares of Paramount Skydance from $10.00 to $12.00 and gave the stock an “underweight” rating in a report on Tuesday, December 9th. Wells Fargo & Company lifted their price target on shares of Paramount Skydance from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 11th. Finally, UBS Group upped their price target on Paramount Skydance from $10.00 to $12.00 and gave the company a “sell” rating in a report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and nine have issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Strong Sell” and an average price target of $14.00.

Paramount Skydance Company Profile

Paramount Global is a media and entertainment company which creates premium content and experiences for audiences. The company’s portfolio of consumer brands includes CBS, Showtime Networks, Paramount Pictures, Nickelodeon, MTV, Comedy Central, BET, Paramount , Pluto TV and Simon & Schuster, among others.