SOL Capital Management CO Purchases New Shares in Paramount Skydance Corporation $PSKY

SOL Capital Management CO purchased a new position in shares of Paramount Skydance Corporation (NASDAQ:PSKY) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 174,875 shares of the company’s stock, valued at approximately $3,309,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Bank Pictet & Cie Europe AG bought a new stake in Paramount Skydance during the 3rd quarter worth $47,983,000. SG Americas Securities LLC acquired a new stake in shares of Paramount Skydance during the third quarter valued at about $9,370,000. TB Alternative Assets Ltd. bought a new stake in shares of Paramount Skydance during the third quarter worth about $7,363,000. New York State Teachers Retirement System acquired a new position in shares of Paramount Skydance in the third quarter valued at approximately $6,980,000. Finally, Exchange Traded Concepts LLC bought a new position in Paramount Skydance in the 3rd quarter valued at approximately $4,595,000. 73.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Argus assumed coverage on shares of Paramount Skydance in a research report on Monday, October 13th. They issued a “hold” rating and a $17.00 price target for the company. Morgan Stanley lifted their target price on Paramount Skydance from $10.00 to $12.00 and gave the stock an “underweight” rating in a report on Tuesday, December 9th. UBS Group raised their price objective on Paramount Skydance from $10.00 to $12.00 and gave the stock a “sell” rating in a research report on Wednesday, October 8th. Guggenheim restated a “neutral” rating and set a $16.00 price target on shares of Paramount Skydance in a report on Wednesday, November 12th. Finally, Sanford C. Bernstein upped their price objective on shares of Paramount Skydance from $11.00 to $12.00 and gave the company an “underperform” rating in a research note on Wednesday, November 12th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and nine have given a Sell rating to the stock. Based on data from MarketBeat.com, Paramount Skydance currently has a consensus rating of “Strong Sell” and a consensus target price of $14.00.

Paramount Skydance Stock Performance

Shares of PSKY opened at $11.80 on Friday. The firm has a market capitalization of $12.65 billion, a price-to-earnings ratio of -393.20 and a beta of 1.17. Paramount Skydance Corporation has a 52-week low of $9.95 and a 52-week high of $20.86. 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 50 day simple moving average of $14.13.

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

Paramount Skydance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Thursday, December 18th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Thursday, December 18th. Paramount Skydance’s dividend payout ratio 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.