Financiere des Professionnels Fonds d investissement inc. Purchases New Shares in Paramount Skydance Corporation $PSKY

Financiere des Professionnels Fonds d investissement inc. acquired a new stake in Paramount Skydance Corporation (NASDAQ:PSKY) during the first quarter, HoldingsChannel reports. The fund acquired 179,888 shares of the company’s stock, valued at approximately $1,623,000.

Several other large investors have also recently added to or reduced their stakes in PSKY. Vanguard Group Inc. increased its holdings in shares of Paramount Skydance by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 36,006,077 shares of the company’s stock worth $482,481,000 after purchasing an additional 132,613 shares during the period. State Street Corp bought a new stake in shares of Paramount Skydance in the third quarter valued at approximately $524,371,000. Invesco Ltd. boosted its stake in shares of Paramount Skydance by 1.0% in the fourth quarter. Invesco Ltd. now owns 15,406,791 shares of the company’s stock valued at $206,451,000 after buying an additional 155,679 shares during the period. Contrarius Group Holdings Ltd grew its position in Paramount Skydance by 52.9% during the fourth quarter. Contrarius Group Holdings Ltd now owns 15,088,097 shares of the company’s stock worth $202,180,000 after buying an additional 5,221,622 shares in the last quarter. Finally, MTCO Ltd. grew its position in Paramount Skydance by 133.3% during the first quarter. MTCO Ltd. now owns 6,300,000 shares of the company’s stock worth $56,826,000 after buying an additional 3,600,000 shares in the last quarter. Institutional investors own 73.00% of the company’s stock.

Wall Street Analysts Forecast Growth

PSKY has been the topic of several analyst reports. Guggenheim reduced their target price on Paramount Skydance from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, May 5th. Arete Research reaffirmed a “sell” rating and issued a $2.00 price target on shares of Paramount Skydance in a research note on Thursday, July 9th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Paramount Skydance in a research report on Wednesday, June 24th. Wells Fargo & Company reduced their price objective on shares of Paramount Skydance from $8.00 to $7.00 and set an “underweight” rating on the stock in a research note on Tuesday, May 5th. Finally, Morgan Stanley raised shares of Paramount Skydance from an “underweight” rating to an “overweight” rating and raised their target price for the company from $11.00 to $14.00 in a report on Thursday, April 30th. Two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and nine have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Reduce” and an average target price of $12.00.

Paramount Skydance Stock Down 4.3%

NASDAQ PSKY opened at $8.75 on Friday. The business has a fifty day moving average price of $10.09 and a two-hundred day moving average price of $10.69. The stock has a market capitalization of $9.79 billion, a PE ratio of 15.35, a PEG ratio of 0.60 and a beta of 1.43. Paramount Skydance Corporation has a fifty-two week low of $8.61 and a fifty-two week high of $20.86. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.10 and a quick ratio of 1.00.

Paramount Skydance (NASDAQ:PSKY) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.08. Paramount Skydance had a positive return on equity of 4.58% and a negative net margin of 2.08%.The company had revenue of $7.35 billion for the quarter. During the same quarter in the previous year, the business posted $0.22 EPS. Equities analysts expect that Paramount Skydance Corporation will post 0.62 earnings per share for the current fiscal year.

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.