Mirae Asset Global Investments Co. Ltd. Invests $924,000 in Paramount Skydance Corporation $PSKY

Mirae Asset Global Investments Co. Ltd. purchased a new position in Paramount Skydance Corporation (NASDAQ:PSKY) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 48,819 shares of the company’s stock, valued at approximately $924,000.

Several other large investors also recently added to or reduced their stakes in the stock. Versant Capital Management Inc bought a new position in Paramount Skydance in the 3rd quarter worth about $39,000. Private Trust Co. NA bought a new stake in Paramount Skydance during the 3rd quarter valued at $47,000. Sound Income Strategies LLC purchased a new stake in shares of Paramount Skydance in the 3rd quarter worth $49,000. Resona Asset Management Co. Ltd. purchased a new stake in shares of Paramount Skydance in the 3rd quarter worth $67,000. Finally, Valley National Advisers Inc. bought a new position in shares of Paramount Skydance during the 3rd quarter worth $68,000. 73.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PSKY. Wolfe Research reiterated an “underperform” rating and set a $13.00 target price on shares of Paramount Skydance in a report on Monday, December 15th. Evercore ISI upped their price target on shares of Paramount Skydance from $12.00 to $14.00 and gave the stock an “in-line” rating in a research report on Tuesday, November 11th. Guggenheim reissued a “neutral” rating and set a $16.00 price objective on shares of Paramount Skydance in a report on Wednesday, November 12th. Morgan Stanley boosted their price objective on shares of Paramount Skydance from $10.00 to $12.00 and gave the stock an “underweight” rating in a research note on Tuesday, December 9th. Finally, Wall Street Zen raised Paramount Skydance to a “hold” rating in a research report on Saturday, November 15th. One analyst has rated the stock with a Buy rating, four have given a Hold rating and nine have given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Strong Sell” and an average target price of $14.00.

Paramount Skydance Stock Down 0.6%

NASDAQ PSKY opened at $10.75 on Thursday. Paramount Skydance Corporation has a 52 week low of $9.95 and a 52 week high of $20.86. The stock’s 50 day moving average price is $13.02. 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 company has a market cap of $11.52 billion, a price-to-earnings ratio of -358.21 and a beta of 1.23.

Paramount Skydance (NASDAQ:PSKY) last released its quarterly earnings results on Monday, November 10th. The company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.37). Paramount Skydance had a positive return on equity of 3.95% and a negative net margin of 0.95%.The firm had revenue of $6.73 billion during the quarter, compared to analysts’ expectations of $6.79 billion. During the same period in the prior year, the firm posted $0.49 earnings per share. Paramount Skydance’s revenue for the quarter was up 0% compared to the same quarter last year.

Paramount Skydance Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Thursday, December 18th were paid a $0.05 dividend. The ex-dividend date was Thursday, December 18th. This represents a $0.20 dividend on an annualized basis and a yield of 1.9%. Paramount Skydance’s dividend payout ratio (DPR) is -666.67%.

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.