Retirement Systems of Alabama Buys Shares of 85,395 Paramount Skydance Corporation $PSKY

Retirement Systems of Alabama purchased a new position in shares of Paramount Skydance Corporation (NASDAQ:PSKY) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 85,395 shares of the company’s stock, valued at approximately $1,616,000.

Other hedge funds have also recently bought and sold shares of the company. CIBC Asset Management Inc acquired a new position in Paramount Skydance during the third quarter worth $898,000. Greatmark Investment Partners Inc. purchased a new position in shares of Paramount Skydance in the third quarter valued at $2,147,000. PFG Investments LLC acquired a new position in shares of Paramount Skydance during the 3rd quarter worth $1,055,000. Y Intercept Hong Kong Ltd acquired a new position in shares of Paramount Skydance during the 3rd quarter worth $6,093,000. Finally, Deseret Mutual Benefit Administrators purchased a new stake in shares of Paramount Skydance in the 3rd quarter worth about $75,000. 73.00% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. 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 increased their target price on Paramount Skydance from $10.00 to $12.00 and gave the company an “underweight” rating in a report on Tuesday, December 9th. Weiss Ratings reissued a “sell (d-)” rating on shares of Paramount Skydance in a research report on Monday, December 29th. UBS Group upped their price objective on Paramount Skydance from $10.00 to $12.00 and gave the company a “sell” rating in a research report on Wednesday, October 8th. Finally, Benchmark increased their price objective on Paramount Skydance from $16.00 to $19.00 and gave the company a “buy” rating in a research note on Tuesday, November 11th. One investment 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Strong Sell” and a consensus price target of $14.00.

Paramount Skydance Stock Performance

Shares of NASDAQ PSKY opened at $11.21 on Monday. The firm has a market capitalization of $12.01 billion, a price-to-earnings ratio of -373.54 and a beta of 1.24. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.16 and a current ratio of 1.34. Paramount Skydance Corporation has a 1 year low of $9.95 and a 1 year high of $20.86. The stock’s 50 day moving average price is $13.29.

Paramount Skydance (NASDAQ:PSKY) last issued 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). Paramount Skydance had a positive return on equity of 3.95% and a negative net margin of 0.95%.The business had revenue of $6.73 billion for the quarter, compared to analysts’ expectations of $6.79 billion. During the same period in the prior year, the company earned $0.49 EPS. The company’s revenue for the quarter was up 0% compared to the same quarter last year.

Paramount Skydance Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 2nd. Shareholders of record on Thursday, December 18th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Thursday, December 18th. Paramount Skydance’s dividend payout ratio (DPR) is presently -666.67%.

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.