PNC Financial Services Group Inc. Invests $1.34 Million in Paramount Skydance Corporation $PSKY

PNC Financial Services Group Inc. acquired a new stake in Paramount Skydance Corporation (NASDAQ:PSKY) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 70,792 shares of the company’s stock, valued at approximately $1,339,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Center for Financial Planning Inc. purchased a new stake in Paramount Skydance in the 3rd quarter worth approximately $35,000. Versant Capital Management Inc acquired a new stake in shares of Paramount Skydance during the third quarter worth $39,000. Private Trust Co. NA acquired a new stake in shares of Paramount Skydance during the third quarter worth $47,000. Guerra Advisors Inc purchased a new stake in shares of Paramount Skydance in the third quarter valued at $48,000. Finally, Sound Income Strategies LLC acquired a new position in Paramount Skydance in the third quarter valued at $49,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Paramount Skydance Stock Down 1.4%

Shares of NASDAQ:PSKY opened at $10.56 on Tuesday. The stock has a 50-day simple moving average of $11.95 and a 200-day simple moving average of $14.60. The stock has a market capitalization of $11.32 billion, a P/E ratio of -351.88 and a beta of 1.24. Paramount Skydance Corporation has a 1 year low of $9.95 and a 1 year high of $20.86. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 16th will be given 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 1.9%. Paramount Skydance’s dividend payout ratio is presently -666.67%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Paramount Skydance in a research note on Monday, December 29th. Benchmark increased their price objective on shares of Paramount Skydance from $16.00 to $19.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. Wells Fargo & Company boosted their target price on shares of Paramount Skydance from $16.00 to $18.00 and gave the company an “equal weight” rating in a report on Tuesday, November 11th. Evercore upped their price target on shares of Paramount Skydance from $12.00 to $14.00 and gave the stock an “in-line” rating in a research report on Tuesday, November 11th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Paramount Skydance from $10.00 to $14.00 and gave the company an “underweight” rating in a report on Tuesday, November 4th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and eight have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price of $14.00.

Paramount Skydance Company 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.