Paramount Skydance Corporation (NASDAQ:PSKY) Short Interest Update

Paramount Skydance Corporation (NASDAQ:PSKY) was the target of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 76,553,699 shares, a growth of 27.8% from the February 26th total of 59,895,714 shares. Currently, 6.9% of the shares of the stock are short sold. Based on an average daily volume of 16,446,041 shares, the days-to-cover ratio is presently 4.7 days.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. CYBER HORNET ETFs LLC bought a new stake in shares of Paramount Skydance during the 3rd quarter worth $25,000. Huntington National Bank lifted its holdings in shares of Paramount Skydance by 108.2% during the fourth quarter. Huntington National Bank now owns 2,259 shares of the company’s stock valued at $30,000 after purchasing an additional 1,174 shares during the last quarter. Larson Financial Group LLC boosted its position in shares of Paramount Skydance by 539.3% in the 4th quarter. Larson Financial Group LLC now owns 2,295 shares of the company’s stock valued at $31,000 after purchasing an additional 1,936 shares during the period. Kelleher Financial Advisors acquired a new position in shares of Paramount Skydance in the 3rd quarter valued at $32,000. Finally, Center for Financial Planning Inc. purchased a new position in Paramount Skydance in the 3rd quarter worth about $35,000. Institutional investors own 73.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on PSKY. TD Cowen lowered their target price on shares of Paramount Skydance from $15.00 to $13.00 and set a “hold” rating on the stock in a research note on Thursday, February 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Paramount Skydance in a research note on Friday. Wells Fargo & Company initiated coverage on shares of Paramount Skydance in a report on Monday, March 9th. They issued a “strong sell” rating and a $10.00 price objective for the company. Morgan Stanley raised their price objective on shares of Paramount Skydance from $10.00 to $12.00 and gave the company an “underweight” rating in a research note on Tuesday, December 9th. Finally, Guggenheim upped their target price on Paramount Skydance from $11.00 to $14.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 3rd. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and nine have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Strong Sell” and a consensus target price of $13.00.

Paramount Skydance Price Performance

NASDAQ:PSKY opened at $9.02 on Wednesday. The company has a quick ratio of 1.12, a current ratio of 1.26 and a debt-to-equity ratio of 1.03. The business’s 50-day moving average price is $10.61 and its 200 day moving average price is $13.77. Paramount Skydance has a 52-week low of $8.61 and a 52-week high of $20.86. The firm has a market cap of $10.03 billion, a P/E ratio of 14.32, a PEG ratio of 0.36 and a beta of 1.14.

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

Paramount Skydance Announces Dividend

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

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.