Bank Pictet & Cie Europe AG Takes Position in Paramount Skydance Corporation $PSKY

Bank Pictet & Cie Europe AG acquired a new position in Paramount Skydance Corporation (NASDAQ:PSKY) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,536,078 shares of the company’s stock, valued at approximately $47,983,000. Bank Pictet & Cie Europe AG owned about 0.38% of Paramount Skydance at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. TB Alternative Assets Ltd. purchased a new position in Paramount Skydance in the 3rd quarter worth approximately $7,363,000. Exchange Traded Concepts LLC bought a new stake in Paramount Skydance in the 3rd quarter worth approximately $4,595,000. U.S. Capital Wealth Advisors LLC bought a new stake in Paramount Skydance in the 3rd quarter worth approximately $2,876,000. Czech National Bank purchased a new stake in Paramount Skydance in the third quarter worth approximately $1,484,000. Finally, Ethic Inc. bought a new position in Paramount Skydance during the third quarter valued at approximately $958,000. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Skydance Trading Down 0.8%

Shares of NASDAQ:PSKY opened at $13.40 on Friday. The company has a current ratio of 1.34, a quick ratio of 1.16 and a debt-to-equity ratio of 1.00. The company has a market capitalization of $14.36 billion, a P/E ratio of -446.52 and a beta of 1.16. Paramount Skydance Corporation has a 12 month low of $9.95 and a 12 month high of $20.86. The company’s 50-day moving average price is $14.85.

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

Paramount Skydance Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PSKY. Zacks Research lowered shares of Paramount Skydance from a “hold” rating to a “strong sell” rating in a report on Monday, December 8th. Argus began coverage on shares of Paramount Skydance in a research report on Monday, October 13th. They issued a “hold” rating and a $17.00 target price on the stock. UBS Group boosted their price target on shares of Paramount Skydance from $10.00 to $12.00 and gave the stock a “sell” rating in a research note on Wednesday, October 8th. Wolfe Research restated an “underperform” rating and set a $13.00 price target on shares of Paramount Skydance in a research report on Monday, December 15th. Finally, Benchmark lifted their price objective on Paramount Skydance from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and nine have issued a Sell rating to the stock. According to MarketBeat.com, Paramount Skydance presently has an average rating of “Strong Sell” and a consensus price target of $14.00.

Paramount Skydance 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.