AlTi Global Inc. Has $1.14 Million Position in Paramount Skydance Corporation $PSKY

AlTi Global Inc. boosted its holdings in Paramount Skydance Corporation (NASDAQ:PSKY) by 104.9% during the first quarter, Holdings Channel reports. The fund owned 125,977 shares of the company’s stock after purchasing an additional 64,492 shares during the period. AlTi Global Inc.’s holdings in Paramount Skydance were worth $1,139,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PSKY. CYBER HORNET ETFs LLC acquired a new position in shares of Paramount Skydance in the third quarter valued at $25,000. Kelleher Financial Advisors acquired a new stake in shares of Paramount Skydance during the 3rd quarter worth about $32,000. Huntington National Bank lifted its stake in shares of Paramount Skydance by 108.2% during the 4th quarter. Huntington National Bank now owns 2,259 shares of the company’s stock worth $30,000 after buying an additional 1,174 shares during the last quarter. Larson Financial Group LLC boosted its holdings in shares of Paramount Skydance by 539.3% during the 4th quarter. Larson Financial Group LLC now owns 2,295 shares of the company’s stock worth $31,000 after buying an additional 1,936 shares during the period. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Paramount Skydance by 317.3% during the 4th quarter. Golden State Wealth Management LLC now owns 2,863 shares of the company’s stock worth $38,000 after buying an additional 2,177 shares during the period. 73.00% of the stock is owned by institutional investors.

Key Paramount Skydance News

Here are the key news stories impacting Paramount Skydance this week:

• Negative Sentiment: A federal judge granted a 14-day temporary restraining order, pausing the Paramount Skydance-Warner Bros. Discovery merger while the court reviews a lawsuit from 12 state attorneys general over antitrust concerns. Judge orders Paramount to temporarily pause Warner Bros acquisition
• Negative Sentiment: Multiple reports say the pause creates new execution risk for PSKY’s blockbuster merger plan, raising the chance of delay, renegotiation, or a more difficult path to closing the transaction. Paramount and Warner Bros. merger hit with temporary restraining order
• Neutral Sentiment: Commentary around the deal suggests the legal setback is the main driver for PSKY trading near record lows, with investors now waiting for the court process and any response from the companies. Paramount Stock Drops After Judge Temporarily Pauses Warner Bros. Acquisition

Paramount Skydance Price Performance

Shares of Paramount Skydance stock opened at $8.57 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.10 and a debt-to-equity ratio of 1.16. The stock has a market capitalization of $9.59 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 0.58 and a beta of 1.43. Paramount Skydance Corporation has a twelve month low of $8.56 and a twelve month high of $20.86. The company has a 50-day simple moving average of $10.04 and a two-hundred day simple moving average of $10.63.

Paramount Skydance (NASDAQ:PSKY) last announced its earnings results on Monday, May 4th. The company reported $0.23 EPS for the quarter, topping 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 company had revenue of $7.35 billion for the quarter. During the same period in the prior year, the business posted $0.22 earnings per share. Analysts forecast that Paramount Skydance Corporation will post 0.62 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PSKY. Morgan Stanley upgraded shares of Paramount Skydance from an “underweight” rating to an “overweight” rating and upped their price target for the company from $11.00 to $14.00 in a research note on Thursday, April 30th. Guggenheim reduced their price objective on Paramount Skydance from $14.00 to $12.00 and set a “neutral” rating for the company in a report on Tuesday, May 5th. Wells Fargo & Company decreased their target price on Paramount Skydance from $8.00 to $7.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Paramount Skydance in a research note on Wednesday, June 24th. Finally, Arete Research reissued a “sell” rating and set a $2.00 price target on shares of Paramount Skydance in a report on Thursday, July 9th. Two research analysts have rated the stock with a Buy rating, five have given a Hold rating and nine have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $12.00.

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.