Paramount Skydance Sees Unusually Large Options Volume (NASDAQ:PSKY)

Paramount Skydance Corporation (NASDAQ:PSKY) saw unusually large options trading activity on Wednesday. Stock traders acquired 91,234 call options on the company. This is an increase of 265% compared to the average daily volume of 24,995 call options.

Institutional Trading of Paramount Skydance

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Paramount Skydance by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 36,006,077 shares of the company’s stock worth $482,481,000 after acquiring an additional 132,613 shares during the period. State Street Corp acquired a new position in Paramount Skydance during the third quarter valued at $524,371,000. Invesco Ltd. boosted its holdings in Paramount Skydance by 1.0% in the fourth quarter. Invesco Ltd. now owns 15,406,791 shares of the company’s stock valued at $206,451,000 after purchasing an additional 155,679 shares during the last quarter. Contrarius Group Holdings Ltd boosted its holdings in Paramount Skydance by 52.9% in the fourth quarter. Contrarius Group Holdings Ltd now owns 15,088,097 shares of the company’s stock valued at $202,180,000 after purchasing an additional 5,221,622 shares during the last quarter. Finally, MTCO Ltd. boosted its holdings in Paramount Skydance by 21.4% in the second quarter. MTCO Ltd. now owns 7,650,000 shares of the company’s stock valued at $75,429,000 after purchasing an additional 1,350,000 shares during the last quarter. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Skydance Stock Performance

PSKY traded up $0.13 on Wednesday, reaching $10.56. 6,774,242 shares of the stock were exchanged, compared to its average volume of 10,881,972. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.04 and a quick ratio of 0.88. The company’s 50-day moving average price is $9.41 and its 200 day moving average price is $10.15. The firm has a market capitalization of $11.85 billion, a PE ratio of 36.33, a PEG ratio of 0.65 and a beta of 1.45. Paramount Skydance has a fifty-two week low of $7.62 and a fifty-two week high of $20.86.

Paramount Skydance (NASDAQ:PSKY) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.03. Paramount Skydance had a positive return on equity of 4.11% and a negative net margin of 2.13%.The business had revenue of $6.91 billion for the quarter. As a group, sell-side analysts forecast that Paramount Skydance will post 0.58 EPS for the current fiscal year.

Paramount Skydance Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $0.20 dividend on an annualized basis and a yield of 1.9%. Paramount Skydance’s dividend payout ratio (DPR) is currently 68.97%.

Analyst Ratings Changes

Several brokerages have issued reports on PSKY. TD Cowen dropped their target price on Paramount Skydance from $13.00 to $8.00 and set a “hold” rating on the stock in a research report on Wednesday, August 5th. Morgan Stanley raised Paramount Skydance from an “underweight” rating to an “overweight” rating and raised their price objective for the company from $11.00 to $14.00 in a research report on Thursday, April 30th. Benchmark cut their target price on Paramount Skydance from $19.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, August 5th. Wells Fargo & Company reduced their target price on shares of Paramount Skydance from $8.00 to $7.00 and set an “underweight” rating for the company in a report on Tuesday, May 5th. Finally, Guggenheim decreased their price target on shares of Paramount Skydance from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, May 5th. Two investment analysts have rated the stock with a Buy rating, five have given a Hold rating and eight have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Paramount Skydance presently has a consensus rating of “Reduce” and an average price target of $11.38.

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.