CIBC Asset Management Inc Makes New Investment in Paramount Skydance Corporation $PSKY

CIBC Asset Management Inc purchased a new stake in Paramount Skydance Corporation (NASDAQ:PSKY) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 47,473 shares of the company’s stock, valued at approximately $898,000.

Several other institutional investors have also modified their holdings of the business. Versant Capital Management Inc purchased a new position in Paramount Skydance in the third quarter valued at $39,000. Private Trust Co. NA acquired a new stake in Paramount Skydance in the 3rd quarter valued at about $47,000. Sound Income Strategies LLC purchased a new position in shares of Paramount Skydance in the 3rd quarter valued at about $49,000. Resona Asset Management Co. Ltd. purchased a new position in shares of Paramount Skydance in the 3rd quarter valued at about $67,000. Finally, Valley National Advisers Inc. acquired a new position in shares of Paramount Skydance during the third quarter worth about $68,000. Institutional investors and hedge funds own 73.00% of the company’s stock.

Paramount Skydance Price Performance

NASDAQ PSKY opened at $11.34 on Thursday. The firm has a fifty day moving average of $13.47. Paramount Skydance Corporation has a 12 month low of $9.95 and a 12 month high of $20.86. 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 stock has a market cap of $12.15 billion, a P/E ratio of -377.87 and a beta of 1.17.

Paramount Skydance (NASDAQ:PSKY) last released its quarterly earnings data 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 company had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.79 billion. During the same quarter in the prior year, the company earned $0.49 EPS. The business’s revenue was up 0% on a year-over-year basis.

Paramount Skydance Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Thursday, December 18th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, December 18th. This represents a $0.20 annualized dividend and a yield of 1.8%. Paramount Skydance’s payout ratio is -666.67%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PSKY. UBS Group raised their target price on shares of Paramount Skydance from $10.00 to $12.00 and gave the company a “sell” rating in a report on Wednesday, October 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Paramount Skydance in a report on Monday, December 29th. Wolfe Research reiterated an “underperform” rating and set a $13.00 target price on shares of Paramount Skydance in a research note on Monday, December 15th. Bank of America increased their target price on Paramount Skydance from $11.00 to $13.00 and gave the company an “underperform” rating in a report on Tuesday, November 11th. Finally, Wall Street Zen raised Paramount Skydance to a “hold” rating in a report on Saturday, November 15th. 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 data from MarketBeat.com, Paramount Skydance has a consensus rating of “Strong Sell” and a consensus target price 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.