Short Interest in Paramount Skydance Corporation (NASDAQ:PSKY) Grows By 17.4%

Paramount Skydance Corporation (NASDAQ:PSKY) was the recipient of a significant increase in short interest in the month of February. As of February 27th, there was short interest totaling 59,895,714 shares, an increase of 17.4% from the February 12th total of 51,002,161 shares. Approximately 5.6% of the company’s shares are short sold. Based on an average daily volume of 18,303,927 shares, the days-to-cover ratio is currently 3.3 days. Based on an average daily volume of 18,303,927 shares, the days-to-cover ratio is currently 3.3 days. Approximately 5.6% of the company’s shares are short sold.

Paramount Skydance Trading Down 1.3%

PSKY traded down $0.12 during midday trading on Wednesday, reaching $9.11. 1,546,206 shares of the company were exchanged, compared to its average volume of 11,336,420. The stock has a market capitalization of $9.76 billion, a P/E ratio of 14.50, a PEG ratio of 0.40 and a beta of 1.15. Paramount Skydance has a one year low of $9.07 and a one year high of $20.86. The stock’s 50-day simple moving average is $11.21 and its 200 day simple moving average is $14.24. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.12 and a current ratio of 1.26.

Paramount Skydance (NASDAQ:PSKY) last announced its quarterly earnings results on Wednesday, February 25th. The company reported $999.00 EPS for the quarter, beating analysts’ consensus estimates of ($0.02) by $999.02. Paramount Skydance had a positive return on equity of 3.82% and a negative net margin of 2.15%.The company had revenue of $8.15 billion during the quarter, compared to analysts’ expectations of $8.17 billion.

Paramount Skydance Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 16th will be issued a $0.05 dividend. The ex-dividend date is Monday, March 16th. This represents a $0.20 annualized dividend and a yield of 2.2%. Paramount Skydance’s dividend payout ratio (DPR) is 31.75%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. TD Cowen reduced their target price on shares of Paramount Skydance from $15.00 to $13.00 and set a “hold” rating on the stock in a research note on Thursday, February 26th. Guggenheim boosted their price target on shares of Paramount Skydance from $11.00 to $14.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 3rd. Wells Fargo & Company started coverage on shares of Paramount Skydance in a report on Monday, March 9th. They issued a “strong sell” rating and a $10.00 price objective on the stock. 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 note on Tuesday, December 9th. Finally, Wolfe Research reaffirmed an “underperform” rating and set a $13.00 target price on shares of Paramount Skydance in a report on Monday, December 15th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and nine have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Strong Sell” and a consensus price target of $13.00.

Hedge Funds Weigh In On Paramount Skydance

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. New York State Teachers Retirement System acquired a new position in Paramount Skydance in the third quarter valued at about $6,980,000. Evergreen Capital Management LLC acquired a new stake in shares of Paramount Skydance during the third quarter worth about $3,696,000. Y Intercept Hong Kong Ltd bought a new position in shares of Paramount Skydance during the 3rd quarter valued at about $6,093,000. Chilton Investment Co. Inc. bought a new position in shares of Paramount Skydance during the 3rd quarter valued at about $2,994,000. Finally, Vanguard Personalized Indexing Management LLC acquired a new position in shares of Paramount Skydance in the 3rd quarter valued at approximately $4,740,000. 73.00% of the stock is owned by institutional investors.

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.