New York State Teachers Retirement System Takes Position in Paramount Skydance Corporation $PSKY

New York State Teachers Retirement System acquired a new stake in Paramount Skydance Corporation (NASDAQ:PSKY) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 368,926 shares of the company’s stock, valued at approximately $6,980,000.

Several other institutional investors have also modified their holdings of the company. Private Trust Co. NA purchased a new position in Paramount Skydance in the third quarter valued at $47,000. Sound Income Strategies LLC acquired a new position in shares of Paramount Skydance during the 3rd quarter worth about $49,000. Valley National Advisers Inc. purchased a new position in shares of Paramount Skydance in the 3rd quarter valued at about $68,000. CWM LLC purchased a new position in shares of Paramount Skydance in the 3rd quarter valued at about $91,000. Finally, AdvisorNet Financial Inc acquired a new stake in shares of Paramount Skydance during the 3rd quarter worth about $97,000. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Skydance Trading Down 2.1%

Shares of PSKY stock opened at $11.83 on Friday. Paramount Skydance Corporation has a 12-month low of $9.95 and a 12-month high of $20.86. The company has a current ratio of 1.34, a quick ratio of 1.16 and a debt-to-equity ratio of 1.00. The stock’s 50 day simple moving average is $14.19. The stock has a market cap of $12.68 billion, a P/E ratio of -394.20 and a beta of 1.17.

Paramount Skydance (NASDAQ:PSKY) last posted its quarterly earnings results on Monday, November 10th. The company reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.37). The company had revenue of $6.73 billion for 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 business’s revenue for the quarter was up 0% compared to the same quarter last year. During the same period last year, the company earned $0.49 earnings per share.

Paramount Skydance Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Investors 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 dividend on an annualized basis and a dividend yield of 1.7%. Paramount Skydance’s dividend payout ratio is currently -666.67%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Wolfe Research reissued an “underperform” rating and set a $13.00 price objective on shares of Paramount Skydance in a report on Monday, December 15th. Benchmark lifted their price target on shares of Paramount Skydance from $16.00 to $19.00 and gave the stock a “buy” rating in a research note on Tuesday, November 11th. Guggenheim reissued a “neutral” rating and issued a $16.00 price target on shares of Paramount Skydance in a research report on Wednesday, November 12th. Sanford C. Bernstein raised their price objective on Paramount Skydance from $11.00 to $12.00 and gave the stock an “underperform” rating in a report on Wednesday, November 12th. Finally, Zacks Research cut Paramount Skydance from a “hold” rating to a “strong sell” rating in a research report on Monday, December 8th. One equities research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and nine have given a Sell rating to the stock. According to data from MarketBeat, Paramount Skydance presently has a consensus rating of “Strong Sell” and an average price target of $14.00.

Key Paramount Skydance News

Here are the key news stories impacting Paramount Skydance this week:

• Positive Sentiment: Paramount named Dennis K. Cinelli as CFO and added Andrew Campion to the board, strengthening its financial leadership and investor-relations oversight during the takeover fight. PARAMOUNT APPOINTS DENNIS K. CINELLI AS CHIEF FINANCIAL OFFICER AND ADDS ANDREW CAMPION TO ITS BOARD OF DIRECTORS
• Neutral Sentiment: Paramount filed suit against Warner Bros. Discovery and signaled plans to nominate its own director slate — a strategic, high?stakes move that keeps pressure on WBD but creates legal and execution risk. Paramount files lawsuit against Warner Bros; intends to nominate director slate (update)
• Negative Sentiment: A Delaware judge refused to expedite Paramount’s request for accelerated discovery related to Warner Bros.’ decision to favor Netflix’s takeover bid, prolonging legal uncertainty and delaying any quick resolution. Delaware judge won’t speed up Paramount lawsuit seeking Warner Bros merger details
• Negative Sentiment: Reports characterize the court outcome as a legal setback for David Ellison’s Paramount, reinforcing investor concerns about the viability and timeline of its challenge to WBD’s deal decisions. David Ellison’s Paramount suffers a setback in its legal fight with Warner Bros. Discovery
• Negative Sentiment: Analyst/quant downgrade: Zacks added PSKY to its “Strong Sell” list, which can amplify selling pressure from model?driven funds and retail investors. New Strong Sell Stocks for Jan-14
• Negative Sentiment: Institutional skepticism: reports that a large Warner holder does not view Paramount’s bid as superior undermine PSKY’s takeover thesis and could reduce the likelihood of shareholder support for its campaign. Large Warner Bros. holder doesn’t believe Paramount bid is superior

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.