Paramount Skydance Corporation (NASDAQ:PSKY) Short Interest Update

Paramount Skydance Corporation (NASDAQ:PSKY) was the recipient 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. Currently, 6.9% of the shares of the company are sold short. Based on an average daily trading volume, of 16,446,041 shares, the days-to-cover ratio is currently 4.7 days.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on PSKY shares. Morgan Stanley raised their target price on Paramount Skydance from $10.00 to $12.00 and gave the company an “underweight” rating in a research note on Tuesday, December 9th. Bank of America dropped their price objective on shares of Paramount Skydance from $13.00 to $11.00 and set an “underperform” rating on the stock in a report on Tuesday, March 10th. Weiss Ratings reissued a “sell (d-)” rating on shares of Paramount Skydance in a research note on Friday. Guggenheim increased their price objective on Paramount Skydance from $11.00 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday, March 3rd. Finally, Zacks Research raised Paramount Skydance from a “strong sell” rating to a “hold” rating in a report on Friday, February 6th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and nine have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Strong Sell” and a consensus price target of $13.00.

Paramount Skydance Stock Performance

Paramount Skydance stock opened at $8.79 on Monday. Paramount Skydance has a 52 week low of $8.61 and a 52 week high of $20.86. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.12 and a current ratio of 1.26. The firm has a market capitalization of $9.77 billion, a PE ratio of 13.95, a PEG ratio of 0.36 and a beta of 1.14. The business’s 50-day simple moving average is $10.72 and its 200-day simple moving average is $13.90.

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

Paramount Skydance Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 16th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Monday, March 16th. Paramount Skydance’s dividend payout ratio (DPR) is presently 31.75%.

Hedge Funds Weigh In On Paramount Skydance

Several institutional investors and hedge funds have recently added to or reduced their stakes in PSKY. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Paramount Skydance by 0.6% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 140,776 shares of the company’s stock worth $1,886,000 after purchasing an additional 900 shares in the last quarter. CWM LLC increased its stake in shares of Paramount Skydance by 20.3% in the fourth quarter. CWM LLC now owns 5,759 shares of the company’s stock valued at $77,000 after buying an additional 970 shares in the last quarter. Mather Group LLC. raised its holdings in shares of Paramount Skydance by 6.3% in the fourth quarter. Mather Group LLC. now owns 17,137 shares of the company’s stock valued at $230,000 after buying an additional 1,009 shares during the last quarter. LSV Asset Management raised its holdings in shares of Paramount Skydance by 0.6% in the fourth quarter. LSV Asset Management now owns 188,868 shares of the company’s stock valued at $2,531,000 after buying an additional 1,116 shares during the last quarter. Finally, Huntington National Bank lifted its position in Paramount Skydance by 108.2% during the 4th quarter. Huntington National Bank now owns 2,259 shares of the company’s stock worth $30,000 after buying an additional 1,174 shares in the last quarter. 73.00% of the stock is currently owned by institutional investors.

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.