SOL Capital Management CO Buys Shares of 174,875 Paramount Skydance Corporation $PSKY

SOL Capital Management CO purchased a new position in shares of Paramount Skydance Corporation (NASDAQ:PSKY) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 174,875 shares of the company’s stock, valued at approximately $3,309,000.

Other large investors also recently added to or reduced their stakes in the company. Bank Pictet & Cie Europe AG bought a new position in Paramount Skydance during the third quarter worth about $47,983,000. SG Americas Securities LLC bought a new position in shares of Paramount Skydance in the third quarter valued at approximately $9,370,000. TB Alternative Assets Ltd. bought a new stake in Paramount Skydance during the 3rd quarter worth approximately $7,363,000. New York State Teachers Retirement System purchased a new stake in Paramount Skydance in the 3rd quarter worth approximately $6,980,000. Finally, Exchange Traded Concepts LLC purchased a new position in shares of Paramount Skydance during the 3rd quarter valued at $4,595,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Wall Street Analysts Forecast Growth

PSKY has been the topic of several research reports. Morgan Stanley raised their price objective on shares of Paramount Skydance from $10.00 to $12.00 and gave the company an “underweight” rating in a research report on Tuesday, December 9th. Wolfe Research restated an “underperform” rating and issued a $13.00 target price on shares of Paramount Skydance in a research report on Monday, December 15th. Evercore ISI lifted 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 note on Tuesday, November 11th. Sanford C. Bernstein lifted their target price on shares of Paramount Skydance from $11.00 to $12.00 and gave the stock an “underperform” rating in a research report on Wednesday, November 12th. Finally, Bank of America upped their price target on shares of Paramount Skydance from $11.00 to $13.00 and gave the company an “underperform” rating in a research report on Tuesday, November 11th. One analyst has rated the stock with a Buy rating, five have issued a Hold rating and nine have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Paramount Skydance currently has a consensus rating of “Strong Sell” and an average target price of $14.00.

Paramount Skydance Price Performance

Shares of NASDAQ PSKY opened at $11.80 on Friday. The stock has a market cap of $12.65 billion, a PE ratio of -393.20 and a beta of 1.17. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.16 and a current ratio of 1.34. Paramount Skydance Corporation has a 1 year low of $9.95 and a 1 year high of $20.86. The company’s 50-day simple moving average is $14.13.

Paramount Skydance (NASDAQ:PSKY) last released its 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 negative net margin of 0.95% and a positive return on equity of 3.95%. The business had revenue of $6.73 billion for the quarter, compared to analysts’ expectations of $6.79 billion. During the same quarter in the previous year, the business posted $0.49 earnings per share. Paramount Skydance’s revenue for the quarter was up 0% on a year-over-year basis.

Paramount Skydance Dividend Announcement

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