Arizona State Retirement System Takes Position in Paramount Skydance Corporation $PSKY

Arizona State Retirement System bought a new stake in shares of Paramount Skydance Corporation (NASDAQ:PSKY) during the 3rd quarter, according to its most recent filing with the SEC. The firm bought 94,468 shares of the company’s stock, valued at approximately $1,787,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PSKY. Versant Capital Management Inc acquired a new stake in Paramount Skydance in the third quarter valued at approximately $39,000. Private Trust Co. NA purchased a new position in shares of Paramount Skydance in the third quarter valued at $47,000. Sound Income Strategies LLC acquired a new stake in Paramount Skydance during the 3rd quarter valued at $49,000. Archer Investment Corp purchased a new stake in Paramount Skydance during the 3rd quarter worth $61,000. Finally, Resona Asset Management Co. Ltd. acquired a new position in Paramount Skydance in the 3rd quarter worth $67,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Analyst Upgrades and Downgrades

PSKY has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Paramount Skydance in a research note on Monday, December 29th. Evercore ISI increased their price target on Paramount Skydance from $12.00 to $14.00 and gave the company an “in-line” rating in a report on Tuesday, November 11th. Wells Fargo & Company lifted their price objective on Paramount Skydance from $16.00 to $18.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 11th. JPMorgan Chase & Co. upped their target price on Paramount Skydance from $10.00 to $14.00 and gave the company an “underweight” rating in a research report on Tuesday, November 4th. Finally, Sanford C. Bernstein raised their price target on shares of Paramount Skydance from $11.00 to $12.00 and gave the stock an “underperform” rating in a research report on Wednesday, November 12th. One investment analyst has rated the stock with a Buy rating, four have assigned a Hold rating and nine have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Strong Sell” and an average target price of $14.00.

Paramount Skydance Stock Down 2.1%

NASDAQ:PSKY opened at $10.52 on Friday. The company has a market cap of $11.27 billion, a P/E ratio of -350.55 and a beta of 1.23. The business’s 50 day moving average price is $12.91. The company has a current ratio of 1.34, a quick ratio of 1.16 and a debt-to-equity ratio of 1.00. Paramount Skydance Corporation has a 52 week low of $9.95 and a 52 week high of $20.86.

Paramount Skydance (NASDAQ:PSKY) last posted its quarterly earnings results 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). Paramount Skydance had a negative net margin of 0.95% and a positive return on equity of 3.95%. The firm had revenue of $6.73 billion for the quarter, compared to analyst estimates of $6.79 billion. During the same period in the prior year, the company posted $0.49 earnings per share. The business’s revenue was up 0% on a year-over-year basis.

Paramount Skydance Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Stockholders of record on Thursday, December 18th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date was Thursday, December 18th. Paramount Skydance’s dividend payout ratio (DPR) is presently -666.67%.

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.