Mirae Asset Global Investments Co. Ltd. Makes New $924,000 Investment in Paramount Skydance Corporation $PSKY

Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of Paramount Skydance Corporation (NASDAQ:PSKY) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 48,819 shares of the company’s stock, valued at approximately $924,000.

Several other hedge funds have also recently modified their holdings of the stock. Cullen Investment Group LTD. bought a new position in shares of Paramount Skydance during the third quarter worth $462,000. Czech National Bank purchased a new stake in Paramount Skydance in the 3rd quarter worth $1,484,000. Wedmont Private Capital bought a new position in shares of Paramount Skydance during the 3rd quarter valued at about $261,000. Hedges Asset Management LLC purchased a new position in shares of Paramount Skydance during the third quarter valued at about $248,000. Finally, Contravisory Investment Management Inc. purchased a new position in shares of Paramount Skydance during the third quarter valued at about $751,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Paramount Skydance Trading Down 0.6%

Shares of PSKY opened at $10.75 on Thursday. The company has a fifty day moving average price of $13.02. The stock has a market capitalization of $11.52 billion, a P/E ratio of -358.21 and a beta of 1.23. The company has a current ratio of 1.34, a quick ratio of 1.16 and a debt-to-equity ratio of 1.00. Paramount Skydance Corporation has a twelve month low of $9.95 and a twelve month high of $20.86.

Paramount Skydance (NASDAQ:PSKY) last issued its quarterly 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 firm had revenue of $6.73 billion for the quarter, compared to the consensus estimate of $6.79 billion. Paramount Skydance had a negative net margin of 0.95% and a positive return on equity of 3.95%. The business’s revenue for the quarter was up 0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.49 earnings per share.

Paramount Skydance Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Thursday, December 18th were paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Thursday, December 18th. Paramount Skydance’s dividend payout ratio (DPR) is currently -666.67%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PSKY. Argus began coverage on Paramount Skydance in a research note on Monday, October 13th. They set a “hold” rating and a $17.00 price target for the company. Wells Fargo & Company increased their target price on Paramount Skydance from $16.00 to $18.00 and gave the company an “equal weight” rating in a research report on Tuesday, November 11th. JPMorgan Chase & Co. raised their target price on shares of Paramount Skydance from $10.00 to $14.00 and gave the company an “underweight” rating in a report on Tuesday, November 4th. Morgan Stanley upped their price target 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 reissued an “underperform” rating and issued a $13.00 price objective on shares of Paramount Skydance in a research note on Monday, December 15th. One equities research analyst has rated the stock with a Buy rating, four have issued a Hold rating and nine have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Strong Sell” and an average target price of $14.00.

Paramount Skydance 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.