MTCO Ltd. Takes Position in Paramount Skydance Corporation $PSKY

MTCO Ltd. purchased a new position in shares of Paramount Skydance Corporation (NASDAQ:PSKY) in the 3rd quarter, Holdings Channel reports. The fund purchased 1,400,000 shares of the company’s stock, valued at approximately $26,488,000. Paramount Skydance comprises about 11.3% of MTCO Ltd.’s holdings, making the stock its 2nd largest position.

A number of other large investors have also modified their holdings of the company. CYBER HORNET ETFs LLC bought a new stake in Paramount Skydance in the 3rd quarter valued at about $25,000. Kelleher Financial Advisors bought a new position in Paramount Skydance in the 3rd quarter worth about $32,000. Center for Financial Planning Inc. bought a new position in Paramount Skydance in the 3rd quarter worth about $35,000. Versant Capital Management Inc acquired a new stake in shares of Paramount Skydance in the third quarter valued at approximately $39,000. Finally, Addison Advisors LLC bought a new stake in shares of Paramount Skydance during the third quarter valued at approximately $42,000. Institutional investors and hedge funds own 73.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on PSKY. Wells Fargo & Company initiated coverage on Paramount Skydance in a research report on Monday, March 9th. They set a “strong sell” rating and a $10.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of Paramount Skydance in a research report on Monday, December 29th. Wolfe Research reaffirmed an “underperform” rating and set a $13.00 target price on shares of Paramount Skydance in a research note on Monday, December 15th. Morgan Stanley boosted their price target on Paramount Skydance from $10.00 to $12.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 9th. Finally, Bank of America decreased their price target on Paramount Skydance from $13.00 to $11.00 and set an “underperform” rating for the company in a research note on Tuesday, March 10th. One 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 MarketBeat.com, the company has an average rating of “Strong Sell” and an average price target of $13.00.

Paramount Skydance Stock Down 2.8%

PSKY stock opened at $9.23 on Wednesday. The firm has a market cap of $9.89 billion, a PE ratio of 14.65, a P/E/G ratio of 0.40 and a beta of 1.15. Paramount Skydance Corporation has a 12 month low of $9.22 and a 12 month high of $20.86. The company has a debt-to-equity ratio of 1.03, a current ratio of 1.26 and a quick ratio of 1.12. The firm has a 50 day simple moving average of $11.21 and a 200 day simple moving average of $14.24.

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

Paramount Skydance Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 16th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 2.2%. The ex-dividend date is Monday, March 16th. Paramount Skydance’s payout ratio is presently 31.75%.

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.