Bank Pictet & Cie Europe AG Takes Position in Paramount Skydance Corporation $PSKY

Bank Pictet & Cie Europe AG purchased a new stake in shares of Paramount Skydance Corporation (NASDAQ:PSKY) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 2,536,078 shares of the company’s stock, valued at approximately $47,983,000.

Other institutional investors have also added to or reduced their stakes in the company. TB Alternative Assets Ltd. purchased a new position in Paramount Skydance during the third quarter valued at $7,363,000. Exchange Traded Concepts LLC bought a new position in shares of Paramount Skydance in the 3rd quarter worth about $4,595,000. U.S. Capital Wealth Advisors LLC bought a new stake in Paramount Skydance during the third quarter worth about $2,876,000. Czech National Bank bought a new stake in Paramount Skydance during the third quarter worth about $1,484,000. Finally, Ethic Inc. purchased a new position in shares of Paramount Skydance during the third quarter valued at approximately $958,000. Institutional investors own 73.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on PSKY. Evercore ISI increased their target price on Paramount Skydance from $12.00 to $14.00 and gave the stock an “in-line” rating in a research note on Tuesday, November 11th. Morgan Stanley increased their price objective on shares of Paramount Skydance from $10.00 to $12.00 and gave the company an “underweight” rating in a research report on Tuesday, December 9th. UBS Group raised their price objective on shares of Paramount Skydance from $10.00 to $12.00 and gave the company a “sell” rating in a research note on Wednesday, October 8th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Paramount Skydance in a research note on Monday. Finally, Wolfe Research reiterated an “underperform” rating and set a $13.00 price target on shares of Paramount Skydance in a report on Monday, December 15th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and nine have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Strong Sell” and a consensus price target of $14.00.

Paramount Skydance Trading Down 0.8%

Shares of PSKY stock opened at $13.40 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.34 and a debt-to-equity ratio of 1.00. Paramount Skydance Corporation has a 12-month low of $9.95 and a 12-month high of $20.86. The stock has a market capitalization of $14.36 billion, a PE ratio of -446.52 and a beta of 1.16. The stock has a 50 day moving average of $14.85.

Paramount Skydance (NASDAQ:PSKY) last announced its earnings results on Monday, November 10th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.37). The company had revenue of $6.73 billion for the quarter, compared to analysts’ expectations of $6.79 billion. Paramount Skydance had a negative net margin of 0.95% and a positive return on equity of 3.95%. Paramount Skydance’s quarterly revenue was up 0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.49 earnings per share.

Paramount Skydance Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 2nd. Shareholders of record on Thursday, December 18th will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, December 18th. This represents a $0.20 dividend on an annualized basis and a yield of 1.5%. Paramount Skydance’s dividend payout ratio is currently -666.67%.

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.