336,291 Shares in Paramount Skydance Corporation $PSKY Bought by Principal Financial Group Inc.

Principal Financial Group Inc. purchased a new stake in Paramount Skydance Corporation (NASDAQ:PSKY) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 336,291 shares of the company’s stock, valued at approximately $6,363,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PSKY. Thrivent Financial for Lutherans bought a new position in shares of Paramount Skydance in the third quarter valued at $225,000. Frank Rimerman Advisors LLC bought a new stake in shares of Paramount Skydance during the third quarter worth about $310,000. AlphaQuest LLC acquired a new stake in shares of Paramount Skydance in the 3rd quarter worth about $600,000. Arizona State Retirement System bought a new position in Paramount Skydance in the 3rd quarter valued at about $1,787,000. Finally, Archer Investment Corp acquired a new position in Paramount Skydance during the 3rd quarter valued at about $61,000. Institutional investors own 73.00% of the company’s stock.

Paramount Skydance Price Performance

Shares of Paramount Skydance stock opened at $10.32 on Friday. The stock has a market cap of $11.06 billion, a price-to-earnings ratio of -343.89 and a beta of 1.23. Paramount Skydance Corporation has a 1 year low of $9.95 and a 1 year high of $20.86. The company has a current ratio of 1.34, a quick ratio of 1.16 and a debt-to-equity ratio of 1.00. The company’s fifty day simple moving average is $12.38.

Paramount Skydance Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Thursday, December 18th were given a $0.05 dividend. The ex-dividend date of this dividend was Thursday, December 18th. This represents a $0.20 annualized dividend and a yield of 1.9%. Paramount Skydance’s payout ratio is currently -666.67%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Wolfe Research restated an “underperform” rating and issued a $13.00 target price on shares of Paramount Skydance in a report on Monday, December 15th. Benchmark raised their price objective on Paramount Skydance from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. Sanford C. Bernstein upped their target price on shares of Paramount Skydance from $11.00 to $12.00 and gave the stock an “underperform” rating in a research note on Wednesday, November 12th. Wall Street Zen upgraded shares of Paramount Skydance to a “hold” rating in a report on Saturday, November 15th. Finally, Zacks Research upgraded shares of Paramount Skydance from a “strong sell” rating to a “hold” rating in a report on Friday, February 6th. One equities research analyst has rated the stock with a Buy rating, five have issued a Hold rating and eight have assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Reduce” and a consensus price target of $14.00.

Paramount Skydance 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.