Cibc World Market Inc. Invests $4.31 Million in Paramount Skydance Corporation $PSKY

Cibc World Market Inc. bought a new position in Paramount Skydance Corporation (NASDAQ:PSKY) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 227,545 shares of the company’s stock, valued at approximately $4,305,000.

Several other hedge funds have also modified their holdings of the stock. Bank Pictet & Cie Europe AG purchased a new position in Paramount Skydance in the 3rd quarter worth about $47,983,000. Poehling Capital Management INC. acquired a new position in shares of Paramount Skydance in the third quarter worth about $12,003,000. Rhumbline Advisers purchased a new position in shares of Paramount Skydance in the third quarter worth approximately $10,716,000. SG Americas Securities LLC acquired a new stake in shares of Paramount Skydance during the third quarter valued at approximately $9,370,000. Finally, TB Alternative Assets Ltd. acquired a new stake in shares of Paramount Skydance during the third quarter valued at approximately $7,363,000. 73.00% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PSKY has been the topic of several research analyst reports. Wolfe Research reiterated an “underperform” rating and set a $13.00 price objective on shares of Paramount Skydance in a research report on Monday, December 15th. Zacks Research upgraded Paramount Skydance from a “strong sell” rating to a “hold” rating in a report on Friday, February 6th. Wall Street Zen raised Paramount Skydance to a “hold” rating in a research report on Saturday, November 15th. 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. Finally, Sanford C. Bernstein lifted their target price on Paramount Skydance from $11.00 to $12.00 and gave the company an “underperform” rating in a research note on Wednesday, November 12th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and eight have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Paramount Skydance has an average rating of “Reduce” and an average target price of $14.00.

Paramount Skydance Trading Up 0.7%

Shares of Paramount Skydance stock opened at $10.32 on Friday. Paramount Skydance Corporation has a 1-year low of $9.95 and a 1-year high of $20.86. The business has a fifty day moving average price of $12.38. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.34 and a quick ratio of 1.16. The firm has a market capitalization of $11.06 billion, a PE ratio of -343.89 and a beta of 1.23.

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 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Thursday, December 18th. Paramount Skydance’s dividend payout ratio (DPR) is currently -666.67%.

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.