Great Lakes Advisors LLC Invests $3.34 Million in Paramount Skydance Corporation $PSKY

Great Lakes Advisors LLC purchased a new stake in Paramount Skydance Corporation (NASDAQ:PSKY) in the third quarter, according to its most recent filing with the SEC. The fund purchased 176,533 shares of the company’s stock, valued at approximately $3,340,000.

Several other institutional investors have also recently added to or reduced their stakes in PSKY. Cullen Investment Group LTD. acquired a new position in shares of Paramount Skydance during the third quarter valued at $462,000. Czech National Bank bought a new stake in shares of Paramount Skydance during the 3rd quarter worth about $1,484,000. Wedmont Private Capital bought a new position in shares of Paramount Skydance in the third quarter valued at approximately $261,000. Hedges Asset Management LLC bought a new position in Paramount Skydance during the 3rd quarter valued at $248,000. Finally, Contravisory Investment Management Inc. acquired a new position in shares of Paramount Skydance in the 3rd quarter worth $751,000. Institutional investors own 73.00% of the company’s stock.

Paramount Skydance Stock Down 0.4%

NASDAQ:PSKY opened at $11.21 on Friday. The firm has a market capitalization of $12.01 billion, a price-to-earnings ratio of -373.54 and a beta of 1.17. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.34 and a quick ratio of 1.16. Paramount Skydance Corporation has a 12-month low of $9.95 and a 12-month high of $20.86. The business has a 50-day simple moving average of $13.29.

Paramount Skydance (NASDAQ:PSKY) last announced its earnings results on Monday, November 10th. The company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.37). The business had revenue of $6.73 billion during the quarter, compared to analyst estimates of $6.79 billion. Paramount Skydance had a positive return on equity of 3.95% and a negative net margin of 0.95%.The firm’s revenue was up 0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.49 earnings per share.

Paramount Skydance Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Thursday, December 18th were issued a $0.05 dividend. The ex-dividend date was Thursday, December 18th. This represents a $0.20 annualized dividend and a yield of 1.8%. Paramount Skydance’s dividend payout ratio (DPR) is -666.67%.

Analysts Set New Price Targets

Several brokerages have recently commented on PSKY. Benchmark raised their target price on Paramount Skydance from $16.00 to $19.00 and gave the stock a “buy” rating in a research report on Tuesday, November 11th. Wells Fargo & Company upped their price target on shares of Paramount Skydance from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 11th. UBS Group boosted their target price on Paramount Skydance from $10.00 to $12.00 and gave the company a “sell” rating in a research note on Wednesday, October 8th. Wolfe Research reaffirmed an “underperform” rating and set a $13.00 price target on shares of Paramount Skydance in a research note on Monday, December 15th. Finally, Argus initiated coverage on shares of Paramount Skydance in a research report on Monday, October 13th. They set a “hold” rating and a $17.00 price objective on the stock. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and nine have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Strong Sell” and a consensus target price of $14.00.

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.