Paramount Skydance Target of Unusually High Options Trading (NASDAQ:PSKY)

Paramount Skydance Corporation (NASDAQ:PSKY) saw some unusual options trading on Friday. Investors bought 31,086 call options on the company. This represents an increase of approximately 42% compared to the typical volume of 21,957 call options.

Paramount Skydance Price Performance

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

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

Paramount Skydance Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 16th will be given a dividend of $0.05 per share. The ex-dividend date is Monday, March 16th. This represents a $0.20 dividend on an annualized basis and a yield of 2.2%. Paramount Skydance’s dividend payout ratio (DPR) is presently 31.75%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PSKY. Zacks Research upgraded Paramount Skydance from a “strong sell” rating to a “hold” rating in a report on Friday, February 6th. Wolfe Research reaffirmed an “underperform” rating and set a $13.00 target price on shares of Paramount Skydance in a report on Monday, December 15th. Bank of America decreased their price target on Paramount Skydance from $13.00 to $11.00 and set an “underperform” rating for the company in a research report on Tuesday, March 10th. Morgan Stanley lifted their price target on Paramount Skydance from $10.00 to $12.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 9th. Finally, TD Cowen cut their price objective on Paramount Skydance from $15.00 to $13.00 and set a “hold” rating on the stock in a report on Thursday, February 26th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and nine have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Strong Sell” and a consensus price target of $13.00.

Hedge Funds Weigh In On Paramount Skydance

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Paramount Skydance by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 36,006,077 shares of the company’s stock worth $482,481,000 after purchasing an additional 132,613 shares during the period. State Street Corp acquired a new position in Paramount Skydance in the 3rd quarter valued at approximately $524,371,000. Invesco Ltd. lifted its position in Paramount Skydance by 1.0% in the 4th quarter. Invesco Ltd. now owns 15,406,791 shares of the company’s stock worth $206,451,000 after buying an additional 155,679 shares in the last quarter. Contrarius Group Holdings Ltd boosted its stake in shares of Paramount Skydance by 52.9% during the 4th quarter. Contrarius Group Holdings Ltd now owns 15,088,097 shares of the company’s stock valued at $202,180,000 after buying an additional 5,221,622 shares during the period. Finally, Barclays PLC acquired a new stake in shares of Paramount Skydance during the 3rd quarter valued at $258,196,000. Institutional investors and hedge funds own 73.00% of the company’s stock.

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.