Rhumbline Advisers Buys New Stake in Paramount Skydance Corporation $PSKY

Rhumbline Advisers purchased a new position in shares of Paramount Skydance Corporation (NASDAQ:PSKY) during the 3rd quarter, Holdings Channel.com reports. The fund purchased 566,413 shares of the company’s stock, valued at approximately $10,716,000.

Other institutional investors have also modified their holdings of the company. Center for Financial Planning Inc. purchased a new stake in shares of Paramount Skydance in the third quarter worth about $35,000. Versant Capital Management Inc purchased a new stake in Paramount Skydance in the 3rd quarter worth approximately $39,000. Private Trust Co. NA acquired a new stake in shares of Paramount Skydance during the 3rd quarter worth approximately $47,000. Guerra Advisors Inc acquired a new position in shares of Paramount Skydance in the 3rd quarter valued at $48,000. Finally, Sound Income Strategies LLC acquired a new position in shares of Paramount Skydance in the 3rd quarter valued at $49,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Analyst Ratings Changes

PSKY has been the topic of several analyst reports. Wall Street Zen upgraded shares of Paramount Skydance to a “hold” rating in a research report on Saturday, November 15th. Evercore raised their target price on Paramount Skydance from $12.00 to $14.00 and gave the company an “in-line” rating in a research report on Tuesday, November 11th. Wells Fargo & Company upped their price target on Paramount Skydance from $16.00 to $18.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 11th. Bank of America raised their price objective on Paramount Skydance from $11.00 to $13.00 and gave the company an “underperform” rating in a report on Tuesday, November 11th. Finally, Wolfe Research reaffirmed an “underperform” rating and set a $13.00 target price on shares of Paramount Skydance in a research note on Monday, December 15th. One equities 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. Based on data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $14.00.

Paramount Skydance Stock Down 2.1%

Paramount Skydance stock opened at $10.71 on Friday. The business’s fifty day simple moving average is $12.02. The stock has a market capitalization of $11.48 billion, a price-to-earnings ratio of -356.88 and a beta of 1.23. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.34 and a quick ratio of 1.16. Paramount Skydance Corporation has a 52-week low of $9.95 and a 52-week high of $20.86.

Paramount Skydance Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 16th will be issued a $0.05 dividend. The ex-dividend date is Monday, March 16th. This represents a $0.20 dividend on an annualized basis and a yield of 1.9%. Paramount Skydance’s dividend payout ratio is presently -666.67%.

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.