JPMorgan Chase & Co. Purchases Shares of 2,212,666 Paramount Skydance Corporation $PSKY

JPMorgan Chase & Co. acquired a new stake in shares of Paramount Skydance Corporation (NASDAQ:PSKY) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 2,212,666 shares of the company’s stock, valued at approximately $41,864,000. JPMorgan Chase & Co. owned about 0.21% of Paramount Skydance at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Cullen Investment Group LTD. acquired a new stake in shares of Paramount Skydance in the third quarter worth approximately $462,000. Czech National Bank purchased a new position in Paramount Skydance during the third quarter worth approximately $1,484,000. Wedmont Private Capital acquired a new position in shares of Paramount Skydance in the 3rd quarter valued at $261,000. Hedges Asset Management LLC purchased a new stake in shares of Paramount Skydance during the 3rd quarter valued at $248,000. Finally, Contravisory Investment Management Inc. acquired a new stake in shares of Paramount Skydance during the 3rd quarter worth $751,000. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on PSKY shares. Guggenheim increased their target price on Paramount Skydance from $11.00 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 3rd. Bank of America dropped their price target on Paramount Skydance from $13.00 to $11.00 and set an “underperform” rating for the company in a research note on Tuesday, March 10th. Wells Fargo & Company initiated coverage on Paramount Skydance in a report on Monday, March 9th. They issued a “strong sell” rating and a $10.00 price objective on the stock. Morgan Stanley lifted their price objective on Paramount Skydance from $10.00 to $12.00 and gave the company an “underweight” rating in a research note on Tuesday, December 9th. Finally, Wolfe Research reiterated an “underperform” rating and set a $13.00 target price on shares of Paramount Skydance in a report on Monday, December 15th. One investment 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. According to data from MarketBeat, the company presently has an average rating of “Strong Sell” and an average price target of $13.00.

Paramount Skydance Trading Up 2.1%

Shares of PSKY opened at $9.15 on Friday. Paramount Skydance Corporation has a 12 month low of $8.61 and a 12 month high of $20.86. The stock’s 50-day moving average is $11.01 and its two-hundred day moving average is $14.12. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.26 and a quick ratio of 1.12. The stock has a market cap of $9.81 billion, a PE ratio of 14.52, a P/E/G ratio of 0.37 and a beta of 1.15.

Paramount Skydance (NASDAQ:PSKY) last posted its earnings results on Wednesday, February 25th. The company reported $999.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.02) by $999.02. The business had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.17 billion. Paramount Skydance had a positive return on equity of 3.82% and a negative net margin of 2.15%.

Paramount Skydance Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 16th will be paid a $0.05 dividend. The ex-dividend date is Monday, March 16th. This represents a $0.20 annualized dividend and a dividend yield of 2.2%. Paramount Skydance’s dividend payout ratio is 31.75%.

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.