JPMorgan Chase & Co. Acquires Shares of 2,212,666 Paramount Skydance Corporation $PSKY

JPMorgan Chase & Co. bought a new stake in shares of Paramount Skydance Corporation (NASDAQ:PSKY) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 2,212,666 shares of the company’s stock, valued at approximately $41,864,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Cullen Investment Group LTD. acquired a new position in shares of Paramount Skydance in the third quarter worth about $462,000. Czech National Bank acquired a new stake in Paramount Skydance during the 3rd quarter valued at approximately $1,484,000. Wedmont Private Capital acquired a new stake in Paramount Skydance during the 3rd quarter valued at approximately $261,000. Hedges Asset Management LLC purchased a new stake in Paramount Skydance during the 3rd quarter worth approximately $248,000. Finally, Contravisory Investment Management Inc. purchased a new stake in Paramount Skydance during the 3rd quarter worth approximately $751,000. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Skydance Trading Up 2.1%

NASDAQ:PSKY opened at $9.15 on Friday. The company has a market cap of $9.81 billion, a PE ratio of 14.52, a P/E/G ratio of 0.37 and a beta of 1.15. The business’s 50 day moving average is $11.01 and its two-hundred day moving average is $14.12. 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 Corporation has a 52 week low of $8.61 and a 52 week high of $20.86.

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

Paramount Skydance Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on PSKY. Wells Fargo & Company assumed coverage on Paramount Skydance in a research note on Monday, March 9th. They set a “strong sell” rating and a $10.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Paramount Skydance in a research note on Monday, December 29th. Zacks Research raised shares of Paramount Skydance from a “strong sell” rating to a “hold” rating in a report on Friday, February 6th. Guggenheim raised their price objective on shares of Paramount Skydance from $11.00 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday, March 3rd. Finally, TD Cowen dropped their target price on shares of Paramount Skydance from $15.00 to $13.00 and set a “hold” rating for the company in a research report on Thursday, February 26th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and nine have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Strong Sell” and a consensus target price of $13.00.

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.