TB Alternative Assets Ltd. Invests $7.36 Million in Paramount Skydance Corporation $PSKY

TB Alternative Assets Ltd. purchased a new stake in shares of Paramount Skydance Corporation (NASDAQ:PSKY) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 389,191 shares of the company’s stock, valued at approximately $7,363,000. Paramount Skydance makes up 1.1% of TB Alternative Assets Ltd.’s investment portfolio, making the stock its 22nd largest position. TB Alternative Assets Ltd. owned approximately 0.06% of Paramount Skydance at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSKY. Exchange Traded Concepts LLC purchased a new position in Paramount Skydance in the 3rd quarter valued at about $4,595,000. U.S. Capital Wealth Advisors LLC purchased a new stake in shares of Paramount Skydance during the third quarter worth about $2,876,000. Czech National Bank acquired a new position in shares of Paramount Skydance in the third quarter worth about $1,484,000. Pacer Advisors Inc. purchased a new position in Paramount Skydance in the third quarter valued at about $826,000. Finally, Voya Investment Management LLC acquired a new stake in Paramount Skydance during the 3rd quarter valued at approximately $758,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on PSKY. Sanford C. Bernstein upped their target price on Paramount Skydance from $11.00 to $12.00 and gave the company an “underperform” rating in a research report on Wednesday, November 12th. Zacks Research lowered shares of Paramount Skydance from a “hold” rating to a “strong sell” rating in a research note on Monday, December 8th. Wolfe Research reaffirmed an “underperform” rating and issued a $13.00 price target on shares of Paramount Skydance in a report on Monday, December 15th. Wells Fargo & Company raised their price objective on shares of Paramount Skydance from $16.00 to $18.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 11th. Finally, Bank of America boosted their target price on shares of Paramount Skydance from $11.00 to $13.00 and gave the stock an “underperform” rating in a research report on Tuesday, November 11th. One 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.com, the company currently has an average rating of “Strong Sell” and a consensus price target of $14.00.

Paramount Skydance Trading Down 1.1%

PSKY stock opened at $13.59 on Friday. The firm’s 50 day moving average price is $15.10. Paramount Skydance Corporation has a 12-month low of $9.95 and a 12-month high of $20.86. The firm has a market cap of $14.56 billion, a price-to-earnings ratio of -452.85 and a beta of 1.16. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.16 and a current ratio of 1.34.

Paramount Skydance (NASDAQ:PSKY) last released its quarterly earnings data on Monday, November 10th. The company reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.37). The business had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.79 billion. Paramount Skydance had a positive return on equity of 3.95% and a negative net margin of 0.95%.The business’s revenue for the quarter was up 0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.49 EPS.

Paramount Skydance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 2nd. Investors of record on Thursday, December 18th will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, December 18th. This represents a $0.20 annualized dividend and a yield of 1.5%. Paramount Skydance’s dividend payout ratio is -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.