Short Interest in Paramount Skydance Corporation (NASDAQ:PSKY) Rises By 27.8%

Paramount Skydance Corporation (NASDAQ:PSKY) was the target of a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 76,553,699 shares, an increase of 27.8% from the February 26th total of 59,895,714 shares. Based on an average daily volume of 16,446,041 shares, the short-interest ratio is currently 4.7 days. Currently, 6.9% of the company’s shares are short sold.

Paramount Skydance Stock Performance

Shares of PSKY stock opened at $8.79 on Monday. Paramount Skydance has a 12-month low of $8.61 and a 12-month high of $20.86. The company has a current ratio of 1.26, a quick ratio of 1.12 and a debt-to-equity ratio of 1.03. The stock has a 50 day simple moving average of $10.72 and a 200-day simple moving average of $13.90. The company has a market cap of $9.77 billion, a price-to-earnings ratio of 13.95, a price-to-earnings-growth ratio of 0.36 and a beta of 1.14.

Paramount Skydance (NASDAQ:PSKY) last announced its earnings results on Wednesday, February 25th. The company reported $999.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $999.02. Paramount Skydance had a negative net margin of 2.15% and a positive return on equity of 3.82%. The company had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.17 billion.

Paramount Skydance Dividend Announcement

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 paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Monday, March 16th. Paramount Skydance’s dividend payout ratio (DPR) is 31.75%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PSKY. CYBER HORNET ETFs LLC bought a new stake in shares of Paramount Skydance during the 3rd quarter valued at about $25,000. Huntington National Bank boosted its stake in 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 acquiring an additional 1,174 shares during the period. Larson Financial Group LLC boosted its stake in Paramount Skydance by 539.3% in the fourth quarter. Larson Financial Group LLC now owns 2,295 shares of the company’s stock valued at $31,000 after acquiring an additional 1,936 shares during the period. Kelleher Financial Advisors bought a new position in shares of Paramount Skydance during the third quarter valued at approximately $32,000. Finally, Center for Financial Planning Inc. acquired a new stake in shares of Paramount Skydance during the 3rd quarter worth approximately $35,000. 73.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PSKY has been the topic of a number of recent research reports. Morgan Stanley upped their target price 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. Zacks Research raised shares of Paramount Skydance from a “strong sell” rating to a “hold” rating in a research report on Friday, February 6th. Bank of America cut their price target on shares of Paramount Skydance from $13.00 to $11.00 and set an “underperform” rating on the stock in a research note on Tuesday, March 10th. Weiss Ratings restated a “sell (d-)” rating on shares of Paramount Skydance in a research note on Friday. Finally, Wells Fargo & Company assumed coverage on shares of Paramount Skydance in a research note on Monday, March 9th. They set a “strong sell” rating and a $10.00 target price for the company. One research analyst has rated the stock with a Buy rating, five have issued a Hold rating and nine have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Strong Sell” and a consensus target price of $13.00.

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.