Paramount Skydance (NASDAQ:PSKY) Trading 6.8% Higher – What’s Next?

Shares of Paramount Skydance Corporation (NASDAQ:PSKY) rose 6.8% during mid-day trading on Tuesday . The stock traded as high as $11.33 and last traded at $11.02. Approximately 4,027,788 shares traded hands during trading, a decline of 44% from the average daily volume of 7,212,833 shares. The stock had previously closed at $10.32.

Analyst Ratings Changes

PSKY has been the topic of a number of research analyst reports. Wall Street Zen raised Paramount Skydance to a “hold” rating in a research note on Saturday, November 15th. Morgan Stanley increased their price objective on shares of Paramount Skydance from $10.00 to $12.00 and gave the stock an “underweight” rating in a report on Tuesday, December 9th. Benchmark boosted their target price on shares of Paramount Skydance from $16.00 to $19.00 and gave the company a “buy” rating in a report on Tuesday, November 11th. Wells Fargo & Company upped their price target on shares of Paramount Skydance from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Paramount Skydance in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and eight have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce” and a consensus target price of $14.00.

Paramount Skydance Trading Down 1.6%

The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.16 and a current ratio of 1.34. The firm has a market capitalization of $11.72 billion, a price-to-earnings ratio of -364.55 and a beta of 1.23. The company’s 50 day simple moving average is $12.08.

Paramount Skydance Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders 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 yield of 1.8%. Paramount Skydance’s dividend payout ratio (DPR) is -666.67%.

Hedge Funds Weigh In On Paramount Skydance

Several hedge funds and other institutional investors have recently bought and sold shares of PSKY. CYBER HORNET ETFs LLC acquired a new stake in Paramount Skydance in the third quarter valued at approximately $25,000. Huntington National Bank boosted its stake in shares of Paramount Skydance by 108.2% in 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 period. Larson Financial Group LLC grew its holdings in Paramount Skydance by 539.3% during 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 in the last quarter. Kelleher Financial Advisors purchased a new stake in Paramount Skydance during the 3rd quarter worth $32,000. Finally, Center for Financial Planning Inc. acquired a new position in Paramount Skydance in the 3rd quarter worth $35,000. 73.00% of the stock is owned by institutional investors and hedge funds.

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.