Short Interest in Paramount Skydance Corporation (NASDAQ:PSKY) Expands By 27.8%

Paramount Skydance Corporation (NASDAQ:PSKY) saw a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 76,553,699 shares, a growth of 27.8% from the February 26th total of 59,895,714 shares. Based on an average daily trading volume, of 16,446,041 shares, the short-interest ratio is presently 4.7 days. Approximately 6.9% of the company’s stock are short sold.

Hedge Funds Weigh In On Paramount Skydance

Hedge funds have recently bought and sold shares of the company. CYBER HORNET ETFs LLC bought a new position in Paramount Skydance during the 3rd quarter worth approximately $25,000. Huntington National Bank increased its holdings 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 during the last quarter. Larson Financial Group LLC raised its position in shares of Paramount Skydance by 539.3% during the 4th quarter. Larson Financial Group LLC now owns 2,295 shares of the company’s stock valued at $31,000 after acquiring an additional 1,936 shares in the last quarter. Kelleher Financial Advisors bought a new position in Paramount Skydance during the third quarter worth $32,000. Finally, Center for Financial Planning Inc. bought a new position in Paramount Skydance during the third quarter worth $35,000. 73.00% of the stock is currently owned by institutional investors and hedge funds.

Paramount Skydance Stock Up 1.1%

PSKY stock traded up $0.10 during midday trading on Tuesday, hitting $9.02. 27,899,811 shares of the company’s stock were exchanged, compared to its average volume of 11,758,711. The firm has a 50 day moving average price of $10.66 and a 200-day moving average price of $13.84. Paramount Skydance has a 12-month low of $8.61 and a 12-month high of $20.86. The stock has a market capitalization of $10.03 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 0.36 and a beta of 1.14. The company has a current ratio of 1.26, a quick ratio of 1.12 and a debt-to-equity ratio of 1.03.

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

Paramount Skydance Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently commented on PSKY shares. Zacks Research upgraded Paramount Skydance from a “strong sell” rating to a “hold” rating in a report on Friday, February 6th. Guggenheim increased their price objective on shares of Paramount Skydance from $11.00 to $14.00 and gave the company a “neutral” rating in a research report on Tuesday, March 3rd. Morgan Stanley boosted their target price on shares of Paramount Skydance from $10.00 to $12.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 9th. TD Cowen decreased their target price on shares of Paramount Skydance from $15.00 to $13.00 and set a “hold” rating for the company in a research note on Thursday, February 26th. Finally, Wolfe Research reaffirmed an “underperform” rating and set a $13.00 price target 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 given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Strong Sell” and an average target price of $13.00.

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.