MTCO Ltd. Buys 1,350,000 Shares of Paramount Skydance Corporation $PSKY

MTCO Ltd. lifted its stake in shares of Paramount Skydance Corporation (NASDAQ:PSKY) by 21.4% during the second quarter, HoldingsChannel reports. The firm owned 7,650,000 shares of the company’s stock after acquiring an additional 1,350,000 shares during the quarter. Paramount Skydance makes up 28.4% of MTCO Ltd.’s investment portfolio, making the stock its 2nd largest position. MTCO Ltd.’s holdings in Paramount Skydance were worth $75,429,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in PSKY. CYBER HORNET ETFs LLC bought a new position in shares of Paramount Skydance in the third quarter valued at $25,000. Huntington National Bank increased its holdings in Paramount Skydance by 108.2% during the fourth quarter. Huntington National Bank now owns 2,259 shares of the company’s stock worth $30,000 after buying an additional 1,174 shares during the last quarter. Larson Financial Group LLC raised its position in Paramount Skydance by 539.3% during the fourth quarter. Larson Financial Group LLC now owns 2,295 shares of the company’s stock worth $31,000 after acquiring an additional 1,936 shares in the last quarter. Kelleher Financial Advisors bought a new stake in Paramount Skydance during the third quarter worth $32,000. Finally, Golden State Wealth Management LLC lifted its stake in Paramount Skydance by 317.3% in the fourth quarter. Golden State Wealth Management LLC now owns 2,863 shares of the company’s stock valued at $38,000 after acquiring an additional 2,177 shares during the last quarter. Institutional investors own 73.00% of the company’s stock.

Paramount Skydance Stock Up 3.3%

Paramount Skydance stock opened at $8.22 on Tuesday. The company’s 50-day moving average price is $9.64 and its two-hundred day moving average price is $10.32. The company has a quick ratio of 1.00, a current ratio of 1.10 and a debt-to-equity ratio of 1.16. The stock has a market cap of $9.20 billion, a P/E ratio of 14.42, a P/E/G ratio of 0.52 and a beta of 1.43. Paramount Skydance Corporation has a twelve month low of $7.62 and a twelve month high of $20.86.

Paramount Skydance (NASDAQ:PSKY) last issued its quarterly earnings data on Monday, May 4th. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.08. Paramount Skydance had a positive return on equity of 4.58% and a negative net margin of 2.08%.The company had revenue of $7.35 billion during the quarter. During the same quarter in the prior year, the firm earned $0.22 EPS. As a group, analysts expect that Paramount Skydance Corporation will post 0.62 EPS for the current year.

Paramount Skydance Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.05 per share. The ex-dividend date is Tuesday, September 15th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.4%. Paramount Skydance’s dividend payout ratio (DPR) is 35.09%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Morgan Stanley raised shares of Paramount Skydance from an “underweight” rating to an “overweight” rating and lifted their price objective for the company from $11.00 to $14.00 in a research report on Thursday, April 30th. Guggenheim dropped their target price on shares of Paramount Skydance from $14.00 to $12.00 and set a “neutral” rating on the stock in a report on Tuesday, May 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Paramount Skydance in a research note on Wednesday, June 24th. Arete Research reiterated a “sell” rating and issued a $2.00 target price on shares of Paramount Skydance in a research note on Thursday, July 9th. Finally, Wells Fargo & Company reduced their price target on Paramount Skydance from $8.00 to $7.00 and set an “underweight” rating for the company in a report on Tuesday, May 5th. Two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and nine have assigned a Sell rating to the stock. According to MarketBeat, Paramount Skydance presently has a consensus rating of “Reduce” and a consensus target price of $12.00.

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.