Wellington Management Group LLP Makes New $3.23 Million Investment in Paramount Skydance Corporation $PSKY

Wellington Management Group LLP purchased a new stake in Paramount Skydance Corporation (NASDAQ:PSKY) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 327,700 shares of the company’s stock, valued at approximately $3,231,000.

Several other large investors have also modified their holdings of PSKY. Pittenger & Anderson Inc. grew its holdings in Paramount Skydance by 18.0% in the first quarter. Pittenger & Anderson Inc. now owns 6,560 shares of the company’s stock valued at $59,000 after purchasing an additional 1,000 shares during the period. LSV Asset Management boosted its holdings in shares of Paramount Skydance by 0.6% in the 4th quarter. LSV Asset Management now owns 188,868 shares of the company’s stock valued at $2,531,000 after purchasing an additional 1,116 shares during the last quarter. Huntington National Bank boosted its holdings in shares of Paramount Skydance by 108.2% in the 4th quarter. Huntington National Bank now owns 2,259 shares of the company’s stock valued at $30,000 after purchasing an additional 1,174 shares during the last quarter. CX Institutional grew its stake in shares of Paramount Skydance by 38.1% during the 2nd quarter. CX Institutional now owns 4,612 shares of the company’s stock valued at $45,000 after buying an additional 1,273 shares during the period. Finally, CYBER HORNET ETFs LLC purchased a new stake in shares of Paramount Skydance during the 3rd quarter valued at $25,000. 73.00% of the stock is currently owned by hedge funds and other institutional investors.

Paramount Skydance Stock Down 5.4%

Shares of NASDAQ PSKY opened at $10.22 on Thursday. Paramount Skydance Corporation has a 12-month low of $7.62 and a 12-month high of $20.86. The company has a market cap of $11.47 billion, a P/E ratio of 35.24, a P/E/G ratio of 1.03 and a beta of 1.50. The company has a current ratio of 1.04, a quick ratio of 0.88 and a debt-to-equity ratio of 1.13. The stock has a fifty day moving average price of $9.62 and a 200 day moving average price of $10.14.

Paramount Skydance (NASDAQ:PSKY) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.18 EPS for the quarter, topping 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 company had revenue of $6.91 billion for the quarter. Research analysts anticipate that Paramount Skydance Corporation will post 0.56 EPS for the current fiscal year.

Paramount Skydance Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors 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 annualized dividend and a yield of 2.0%. Paramount Skydance’s payout ratio is 68.97%.

Analyst Upgrades and Downgrades

PSKY has been the topic of several research reports. 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 report on Wednesday, August 5th. Arete Research restated a “sell” rating and set a $2.00 price target on shares of Paramount Skydance in a research note on Thursday, July 9th. UBS Group cut their price objective on Paramount Skydance from $10.00 to $8.00 and set a “sell” rating on the stock in a report on Wednesday, August 5th. Weiss Ratings raised Paramount Skydance from a “sell (d-)” rating to a “sell (d)” rating in a research note on Thursday, August 6th. Finally, TD Cowen decreased their target price on Paramount Skydance from $13.00 to $8.00 and set a “hold” rating for the company in a report on Wednesday, August 5th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and eight have given a Sell rating to the company. According to MarketBeat.com, Paramount Skydance has a consensus rating of “Reduce” and an average target price of $11.38.

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.