Paramount Skydance Sees Unusually High Options Volume (NASDAQ:PSKY)
by Tristan Rich · The Markets DailyParamount Skydance Corporation (NASDAQ:PSKY – Get Free Report) was the target of some unusual options trading activity on Friday. Stock traders bought 31,086 call options on the stock. This represents an increase of approximately 42% compared to the typical volume of 21,957 call options.
Institutional Trading of Paramount Skydance
A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. bought a new position in shares of Paramount Skydance in the 3rd quarter worth $678,726,000. State Street Corp bought a new stake in shares of Paramount Skydance in the 3rd quarter valued at about $524,371,000. Invesco Ltd. purchased a new position in shares of Paramount Skydance in the 3rd quarter worth approximately $288,551,000. Barclays PLC bought a new position in shares of Paramount Skydance during the 3rd quarter worth approximately $258,196,000. Finally, Contrarius Group Holdings Ltd acquired a new stake in Paramount Skydance in the third quarter valued at approximately $186,674,000. Hedge funds and other institutional investors own 73.00% of the company’s stock.
Paramount Skydance Trading Up 0.5%
Paramount Skydance stock traded up $0.05 during mid-day trading on Friday, hitting $9.01. The company’s stock had a trading volume of 3,805,439 shares, compared to its average volume of 11,327,304. The company has a debt-to-equity ratio of 1.03, a quick ratio of 1.12 and a current ratio of 1.26. The company has a 50 day moving average of $11.07 and a 200-day moving average of $14.16. Paramount Skydance has a one year low of $8.61 and a one year high of $20.86. The stock has a market cap of $9.65 billion, a PE ratio of 14.31, a P/E/G ratio of 0.37 and a beta of 1.15.
Paramount Skydance (NASDAQ:PSKY – Get Free Report) last issued its earnings results on Wednesday, February 25th. The company reported $999.00 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.17 billion.
Paramount Skydance Announces Dividend
The company also recently disclosed 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 annualized dividend and a dividend yield of 2.2%. The ex-dividend date is Monday, March 16th. Paramount Skydance’s payout ratio is presently 31.75%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on PSKY shares. Bank of America cut their target price on Paramount Skydance from $13.00 to $11.00 and set an “underperform” rating on the stock in a research report on Tuesday, March 10th. Wells Fargo & Company started coverage on shares of Paramount Skydance in a research note on Monday, March 9th. They set a “strong sell” rating and a $10.00 price objective for the company. Morgan Stanley boosted their price objective on shares of Paramount Skydance from $10.00 to $12.00 and gave the company an “underweight” rating in a research report on Tuesday, December 9th. TD Cowen reduced their target price on shares of Paramount Skydance from $15.00 to $13.00 and set a “hold” rating on the stock in a research note on Thursday, February 26th. Finally, Wolfe Research restated an “underperform” rating and issued a $13.00 target price on shares of Paramount Skydance in a report on Monday, December 15th. One investment analyst has rated the stock with a Buy rating, five have assigned a Hold rating and nine have issued a Sell rating to the company. According to data from MarketBeat, Paramount Skydance has a consensus rating of “Strong Sell” and an average price target of $13.00.
Check Out Our Latest Stock Analysis on Paramount Skydance
Paramount Skydance Company 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.