Rhumbline Advisers Buys Shares of 566,413 Paramount Skydance Corporation $PSKY

Rhumbline Advisers purchased a new position in Paramount Skydance Corporation (NASDAQ:PSKY) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 566,413 shares of the company’s stock, valued at approximately $10,716,000. Rhumbline Advisers owned approximately 0.08% of Paramount Skydance at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in PSKY. Center for Financial Planning Inc. purchased a new position in Paramount Skydance in the third quarter valued at about $35,000. Stratos Wealth Partners LTD. purchased a new position in shares of Paramount Skydance in the 3rd quarter worth approximately $227,000. Baader Bank Aktiengesellschaft bought a new position in shares of Paramount Skydance during the 3rd quarter worth approximately $664,000. Cove Private Wealth LLC purchased a new stake in Paramount Skydance during the third quarter valued at approximately $404,000. Finally, Costello Asset Management INC acquired a new stake in Paramount Skydance in the third quarter valued at approximately $434,000. Institutional investors own 73.00% of the company’s stock.

Analysts Set New Price Targets

PSKY has been the topic of several analyst reports. Wells Fargo & Company lifted their price target on shares of Paramount Skydance from $16.00 to $18.00 and gave the stock an “equal weight” rating in a report on Tuesday, November 11th. Wolfe Research restated an “underperform” rating and set a $13.00 target price on shares of Paramount Skydance in a research note on Monday, December 15th. Zacks Research upgraded Paramount Skydance from a “strong sell” rating to a “hold” rating in a research note on Friday, February 6th. Evercore raised their price target on Paramount Skydance from $12.00 to $14.00 and gave the stock an “in-line” rating in a report on Tuesday, November 11th. Finally, Bank of America upped their price objective on shares of Paramount Skydance from $11.00 to $13.00 and gave the company an “underperform” rating in a report on Tuesday, November 11th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and eight have given a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $14.00.

Paramount Skydance Stock Performance

Shares of PSKY stock opened at $10.71 on Friday. Paramount Skydance Corporation has a fifty-two week low of $9.95 and a fifty-two week high of $20.86. The firm has a market capitalization of $11.48 billion, a price-to-earnings ratio of -356.88 and a beta of 1.23. The company has a quick ratio of 1.16, a current ratio of 1.34 and a debt-to-equity ratio of 1.00. The company has a 50-day moving average price of $12.02.

Paramount Skydance Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 16th will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Monday, March 16th. 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 -666.67%.

About Paramount Skydance

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.