TD Asset Management Inc Makes New $1.03 Million Investment in Paramount Skydance Corporation $PSKY

TD Asset Management Inc acquired a new position in shares of Paramount Skydance Corporation (NASDAQ:PSKY) during the third quarter, HoldingsChannel reports. The fund acquired 54,327 shares of the company’s stock, valued at approximately $1,028,000.

Several other institutional investors have also modified their holdings of the company. Center for Financial Planning Inc. acquired a new stake in shares of Paramount Skydance in the 3rd quarter worth approximately $35,000. Versant Capital Management Inc purchased a new position in Paramount Skydance during the 3rd quarter valued at about $39,000. Addison Advisors LLC purchased a new stake in shares of Paramount Skydance in the third quarter valued at about $42,000. Private Trust Co. NA acquired a new stake in shares of Paramount Skydance in the third quarter valued at approximately $47,000. Finally, Guerra Advisors Inc purchased a new stake in Paramount Skydance in the 3rd quarter valued at approximately $48,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Paramount Skydance Trading Down 2.6%

NASDAQ:PSKY opened at $11.74 on Friday. The business’s 50-day simple moving average is $11.69 and its 200 day simple moving average is $14.50. Paramount Skydance Corporation has a one year low of $9.95 and a one year high of $20.86. The stock has a market cap of $12.58 billion, a price-to-earnings ratio of 18.63 and a beta of 1.15. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.12 and a current ratio of 1.26.

Paramount Skydance (NASDAQ:PSKY) last released its quarterly earnings results on Wednesday, February 25th. The company reported $999.00 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $999.02. The business had revenue of $8.15 billion during the quarter, compared to the consensus estimate of $8.17 billion. Paramount Skydance had a negative net margin of 2.15% and a positive return on equity of 3.82%.

Paramount Skydance Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 16th will be given a $0.05 dividend. The ex-dividend date is Monday, March 16th. This represents a $0.20 annualized dividend and a dividend yield of 1.7%. Paramount Skydance’s dividend payout ratio (DPR) is presently 31.75%.

Analysts Set New Price Targets

PSKY has been the subject of several analyst reports. Morgan Stanley boosted their target price 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. Sanford C. Bernstein increased their price target on Paramount Skydance from $11.00 to $12.00 and gave the stock an “underperform” rating in a research note on Wednesday, November 12th. Guggenheim raised their price objective on Paramount Skydance from $11.00 to $14.00 and gave the stock a “neutral” rating in a report on Tuesday. Wells Fargo & Company upped their target price on Paramount Skydance from $16.00 to $18.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 11th. Finally, TD Cowen decreased their price target on Paramount Skydance from $15.00 to $13.00 and set a “hold” rating on the stock in a research note on Thursday, February 26th. One investment analyst has rated the stock with a Buy rating, six have issued a Hold rating and eight have assigned a Sell rating to the stock. According to MarketBeat.com, Paramount Skydance has an average rating of “Reduce” and an average price target of $13.77.

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.