Exchange Traded Concepts LLC Takes $4.60 Million Position in Paramount Skydance Corporation $PSKY

Exchange Traded Concepts LLC acquired a new stake in shares of Paramount Skydance Corporation (NASDAQ:PSKY) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 242,888 shares of the company’s stock, valued at approximately $4,595,000.

Several other hedge funds and other institutional investors have also bought and sold shares of PSKY. Sound Income Strategies LLC purchased a new position in shares of Paramount Skydance during the third quarter worth approximately $49,000. AdvisorNet Financial Inc purchased a new stake in shares of Paramount Skydance in the 3rd quarter valued at $97,000. U.S. Capital Wealth Advisors LLC bought a new position in shares of Paramount Skydance during the 3rd quarter valued at $2,876,000. Voya Investment Management LLC purchased a new position in Paramount Skydance in the 3rd quarter worth $758,000. Finally, Contravisory Investment Management Inc. bought a new stake in Paramount Skydance in the third quarter worth $751,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Paramount Skydance Price Performance

Shares of NASDAQ PSKY opened at $13.74 on Thursday. Paramount Skydance Corporation has a 1 year low of $9.95 and a 1 year high of $20.86. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.16 and a current ratio of 1.34. The company’s 50-day simple moving average is $15.23. The stock has a market cap of $14.72 billion, a PE ratio of -457.85 and a beta of 1.16.

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

Paramount Skydance Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Thursday, December 18th will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, December 18th. This represents a $0.20 dividend on an annualized basis and a yield of 1.5%. Paramount Skydance’s payout ratio is presently -666.67%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PSKY. Evercore ISI raised their price objective on Paramount Skydance from $12.00 to $14.00 and gave the company an “in-line” rating in a research note on Tuesday, November 11th. Argus assumed coverage on Paramount Skydance in a report on Monday, October 13th. They set a “hold” rating and a $17.00 target price for the company. Wells Fargo & Company increased their price target on shares of Paramount Skydance from $16.00 to $18.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Paramount Skydance in a research note on Monday. Finally, Zacks Research lowered Paramount Skydance from a “hold” rating to a “strong sell” rating in a research report on Monday, December 8th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and nine have given a Sell rating to the company’s stock. According to data from MarketBeat, Paramount Skydance currently has a consensus rating of “Strong Sell” and a consensus target price of $14.00.

Paramount Skydance Company Profile

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.