The Manufacturers Life Insurance Company Acquires 256,748 Shares of Paramount Skydance Corporation $PSKY

The Manufacturers Life Insurance Company lifted its holdings in Paramount Skydance Corporation (NASDAQ:PSKY) by 126.4% in the 1st quarter, Holdings Channel reports. The firm owned 459,802 shares of the company’s stock after buying an additional 256,748 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Paramount Skydance were worth $4,147,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PSKY. CYBER HORNET ETFs LLC acquired a new stake in shares of Paramount Skydance in the third quarter worth about $25,000. Huntington National Bank raised its stake in shares of Paramount Skydance by 108.2% in the 4th quarter. Huntington National Bank now owns 2,259 shares of the company’s stock valued at $30,000 after acquiring an additional 1,174 shares in the last quarter. Larson Financial Group LLC lifted its holdings in Paramount Skydance by 539.3% in the 4th quarter. Larson Financial Group LLC now owns 2,295 shares of the company’s stock worth $31,000 after purchasing an additional 1,936 shares during the last quarter. Kelleher Financial Advisors acquired a new position in Paramount Skydance during the third quarter valued at approximately $32,000. Finally, Golden State Wealth Management LLC raised its position in shares of Paramount Skydance by 317.3% in the fourth quarter. Golden State Wealth Management LLC now owns 2,863 shares of the company’s stock valued at $38,000 after purchasing an additional 2,177 shares during the period. 73.00% of the stock is owned by institutional investors and hedge funds.

Key Stories Impacting Paramount Skydance

Here are the key news stories impacting Paramount Skydance this week:

• Positive Sentiment: The U.K. Competition and Markets Authority cleared Paramount Skydance’s acquisition of Warner Bros. Discovery, removing a major regulatory hurdle and strengthening the transaction’s prospects. The deal still requires resolution of U.S. litigation. U.K. Competition and Markets Authority approval
• Positive Sentiment: Lionsgate CEO Jon Feltheimer endorsed CEO David Ellison’s leadership and the Paramount-Warner Bros. Discovery transaction, arguing that prolonged uncertainty is harmful to the media industry. Lionsgate CEO endorsement
• Positive Sentiment: Paramount Skydance exceeded second-quarter earnings and revenue expectations. Analysts cited direct-to-consumer growth, a studio turnaround and cost discipline as offsets to weakness in TV Media, while management provided a solid third-quarter outlook. PSKY earnings and outlook
• Positive Sentiment: Paramount+ subscribers approached 82 million, with the company reporting its strongest retention quarter to date, supporting the investment case for its streaming business. PSKY earnings call highlights
• Positive Sentiment: Benchmark maintained a “buy” rating despite lowering its price target to $16 from $19, still implying substantial potential upside from recent trading levels. Benchmark price target update
• Neutral Sentiment: Paramount CEO David Ellison said the company expects to prevail in the U.S. courtroom fight over the Warner Bros. Discovery acquisition, but a trial is not expected until March, extending uncertainty around timing and completion.
• Negative Sentiment: Warner Bros. Discovery reported declining revenue and narrower profit amid a large charge, while state attorneys general continue efforts to block the acquisition. These developments could increase execution, legal and integration risks for PSKY. Warner Bros. Discovery results

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. UBS Group lowered their target price on shares of Paramount Skydance from $10.00 to $8.00 and set a “sell” rating on the stock in a research note on Wednesday. Arete Research restated a “sell” rating and set a $2.00 target price on shares of Paramount Skydance in a research note on Thursday, July 9th. Morgan Stanley raised Paramount Skydance from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from $11.00 to $14.00 in a research report on Thursday, April 30th. Wells Fargo & Company decreased their price target on shares of Paramount Skydance from $8.00 to $7.00 and set an “underweight” rating on the stock in a research report on Tuesday, May 5th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Paramount Skydance in a research report on Wednesday, June 24th. Two analysts have rated the stock with a Buy rating, five have given a Hold rating and nine have assigned a Sell rating to the company. Based on data from MarketBeat, Paramount Skydance has a consensus rating of “Reduce” and an average target price of $11.14.

Paramount Skydance Trading Up 3.4%

PSKY stock opened at $9.06 on Friday. Paramount Skydance Corporation has a 1-year low of $7.62 and a 1-year high of $20.86. The company has a current ratio of 1.04, a quick ratio of 1.00 and a debt-to-equity ratio of 1.13. The business’s 50 day moving average is $9.53 and its 200-day moving average is $10.25. The firm has a market cap of $10.14 billion, a P/E ratio of 15.89, a P/E/G ratio of 0.60 and a beta of 1.45.

Paramount Skydance (NASDAQ:PSKY) last announced its quarterly earnings results on Tuesday, August 4th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.15 by $0.03. Paramount Skydance had a positive return on equity of 4.11% and a negative net margin of 2.13%.The business had revenue of $6.91 billion for the quarter. Equities analysts anticipate that Paramount Skydance Corporation will post 0.6 earnings per share for the current fiscal year.

Paramount Skydance Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Tuesday, September 15th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 2.2%. The ex-dividend date of this dividend is Tuesday, September 15th. Paramount Skydance’s dividend payout ratio (DPR) is currently 35.09%.

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.