Allen Operations LLC Buys New Position in Paramount Skydance Corporation $PSKY

Allen Operations LLC bought a new stake in shares of Paramount Skydance Corporation (NASDAQ:PSKY) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 167,743 shares of the company’s stock, valued at approximately $2,248,000. Paramount Skydance accounts for 0.3% of Allen Operations LLC’s holdings, making the stock its 28th biggest holding.

Other large investors also recently added to or reduced their stakes in the company. AXQ Capital LP bought a new position in shares of Paramount Skydance in the fourth quarter worth approximately $1,064,000. BW Gestao de Investimentos Ltda. bought a new position in shares of Paramount Skydance in the fourth quarter worth approximately $7,570,000. MUFG Securities EMEA plc boosted its position in shares of Paramount Skydance by 114.4% in the fourth quarter. MUFG Securities EMEA plc now owns 12,672 shares of the company’s stock worth $170,000 after purchasing an additional 6,762 shares during the period. Norges Bank bought a new position in shares of Paramount Skydance in the fourth quarter worth approximately $1,841,000. Finally, Eurizon Capital SGR S.p.A. bought a new position in shares of Paramount Skydance in the fourth quarter worth approximately $65,000. 73.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PSKY has been the subject of a number of recent analyst reports. Bank of America dropped their price target on shares of Paramount Skydance from $13.00 to $11.00 and set an “underperform” rating for the company in a research report on Tuesday, March 10th. Wells Fargo & Company lowered their target price on shares of Paramount Skydance from $8.00 to $7.00 and set an “underweight” rating on the stock in a report on Tuesday, May 5th. Zacks Research raised shares of Paramount Skydance from a “strong sell” rating to a “hold” rating in a report on Friday, February 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Paramount Skydance in a report on Friday, March 27th. Finally, Guggenheim lowered their target price on shares of Paramount Skydance from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, May 5th. Two analysts have rated the stock with a Buy rating, five have issued a Hold rating and eight have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $12.77.

Paramount Skydance Trading Up 3.5%

Shares of PSKY opened at $10.98 on Tuesday. Paramount Skydance Corporation has a twelve month low of $8.61 and a twelve month high of $20.86. The company has a market cap of $12.29 billion, a P/E ratio of 19.26, a P/E/G ratio of 0.81 and a beta of 1.43. The company has a current ratio of 1.10, a quick ratio of 1.00 and a debt-to-equity ratio of 1.16. The company’s fifty day simple moving average is $10.39 and its 200-day simple moving average is $11.80.

Paramount Skydance (NASDAQ:PSKY) last announced its earnings results on Monday, May 4th. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.08. Paramount Skydance had a negative net margin of 2.08% and a positive return on equity of 4.58%. The business had revenue of $7.35 billion for the quarter. During the same period in the prior year, the company posted $0.22 EPS. As a group, analysts expect that Paramount Skydance Corporation will post 0.54 EPS for the current year.

Paramount Skydance Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be paid a $0.05 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $0.20 annualized dividend and a dividend yield of 1.8%. Paramount Skydance’s dividend payout ratio is currently 35.09%.

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.