Claret Asset Management Corp Makes New Investment in Paramount Skydance Corporation $PSKY

Claret Asset Management Corp acquired a new position in Paramount Skydance Corporation (NASDAQ:PSKY) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 136,013 shares of the company’s stock, valued at approximately $2,573,000.

Other institutional investors have also recently modified their holdings of the company. Center for Financial Planning Inc. bought a new stake in Paramount Skydance in the 3rd quarter worth approximately $35,000. Versant Capital Management Inc bought a new position in Paramount Skydance during the third quarter valued at approximately $39,000. Addison Advisors LLC purchased a new position in shares of Paramount Skydance during the third quarter worth approximately $42,000. Paradigm Asset Management Co. LLC purchased a new position in shares of Paramount Skydance during the third quarter worth approximately $45,000. Finally, Private Trust Co. NA bought a new stake in shares of Paramount Skydance in the 3rd quarter worth approximately $47,000. 73.00% of the stock is currently owned by institutional investors.

Paramount Skydance Trading Down 6.7%

NASDAQ:PSKY opened at $11.19 on Tuesday. The firm has a market capitalization of $11.99 billion, a P/E ratio of 17.76 and a beta of 1.14. The company has a quick ratio of 1.12, a current ratio of 1.26 and a debt-to-equity ratio of 1.03. The company has a fifty day moving average of $11.61 and a 200 day moving average of $14.47. Paramount Skydance Corporation has a 52 week low of $9.95 and a 52 week high of $20.86.

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

Paramount Skydance Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 16th will be issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date is Monday, March 16th. Paramount Skydance’s payout ratio is currently 31.75%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Guggenheim upped their price objective on shares of Paramount Skydance from $11.00 to $14.00 and gave the company a “neutral” rating in a research note on Tuesday, March 3rd. Wolfe Research reiterated an “underperform” rating and issued a $13.00 target price on shares of Paramount Skydance in a research report on Monday, December 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Paramount Skydance in a research note on Monday, December 29th. Evercore raised their price objective on Paramount Skydance from $12.00 to $14.00 and gave the company an “in-line” rating in a research note on Tuesday, November 11th. Finally, Wells Fargo & Company began coverage on Paramount Skydance in a report on Monday. They issued a “strong sell” rating and a $10.00 price objective on the stock. 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 company. According to MarketBeat.com, the company has an average rating of “Strong Sell” and an average target price of $13.15.

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.