Traders Purchase Large Volume of Paramount Skydance Put Options (NASDAQ:PSKY)

Paramount Skydance Corporation (NASDAQ:PSKY) was the recipient of some unusual options trading on Monday. Stock investors acquired 30,702 put options on the company. This represents an increase of approximately 45% compared to the average daily volume of 21,171 put options.

Analyst Ratings Changes

PSKY has been the topic of a number of research analyst reports. Bank of America decreased their target price on Paramount Skydance from $13.00 to $11.00 and set an “underperform” rating on the stock in a research report on Tuesday, March 10th. Wolfe Research restated an “underperform” rating and set a $13.00 price target on shares of Paramount Skydance in a report on Monday, December 15th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Paramount Skydance in a research note on Friday. Wells Fargo & Company started coverage on Paramount Skydance in a report on Monday, March 9th. They set a “strong sell” rating and a $10.00 price objective on the stock. Finally, Guggenheim increased their target price on Paramount Skydance from $11.00 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Buy rating, five have given a Hold rating and nine have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Strong Sell” and a consensus target price of $13.00.

Paramount Skydance Price Performance

Shares of Paramount Skydance stock opened at $8.92 on Tuesday. The stock has a market cap of $9.92 billion, a price-to-earnings ratio of 14.16, a price-to-earnings-growth ratio of 0.36 and a beta of 1.14. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.12 and a current ratio of 1.26. The stock has a 50 day moving average price of $10.66 and a 200-day moving average price of $13.84. Paramount Skydance has a one year low of $8.61 and a one year high of $20.86.

Paramount Skydance (NASDAQ:PSKY) last released its quarterly earnings results on Wednesday, February 25th. The company reported $999.00 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $999.02. The company had revenue of $8.15 billion for 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 Dividend Announcement

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 of this dividend 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 currently 31.75%.

Hedge Funds Weigh In On Paramount Skydance

A number of large investors have recently made changes to their positions in the company. CYBER HORNET ETFs LLC purchased a new stake in Paramount Skydance in the 3rd quarter worth about $25,000. Kelleher Financial Advisors purchased a new position in shares of Paramount Skydance during the third quarter valued at approximately $32,000. Center for Financial Planning Inc. bought a new position in shares of Paramount Skydance during the third quarter valued at approximately $35,000. Versant Capital Management Inc purchased a new stake in shares of Paramount Skydance in the third quarter worth approximately $39,000. Finally, Addison Advisors LLC purchased a new stake in shares of Paramount Skydance in the third quarter worth approximately $42,000. 73.00% of the stock is owned by hedge funds and other institutional investors.

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.