Legal & General Group Plc Purchases 102,574 Shares of Paramount Skydance Corporation $PSKY

Legal & General Group Plc increased its stake in shares of Paramount Skydance Corporation (NASDAQ:PSKY) by 14.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 796,272 shares of the company’s stock after buying an additional 102,574 shares during the quarter. Legal & General Group Plc owned 0.07% of Paramount Skydance worth $10,670,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its position in Paramount Skydance by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 36,006,077 shares of the company’s stock valued at $482,481,000 after buying an additional 132,613 shares during the last quarter. State Street Corp purchased a new stake in Paramount Skydance in the 3rd quarter valued at $524,371,000. Invesco Ltd. purchased a new stake in Paramount Skydance in the 3rd quarter valued at $288,551,000. Barclays PLC purchased a new stake in Paramount Skydance in the 3rd quarter valued at $258,196,000. Finally, Contrarius Group Holdings Ltd purchased a new stake in Paramount Skydance in the 3rd quarter valued at $186,674,000. 73.00% of the stock is owned by hedge funds and other institutional investors.

Paramount Skydance Stock Down 3.1%

Shares of NASDAQ:PSKY opened at $10.45 on Thursday. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.10 and a quick ratio of 1.00. The company has a market capitalization of $11.70 billion, a PE ratio of 18.33, a price-to-earnings-growth ratio of 0.82 and a beta of 1.43. Paramount Skydance Corporation has a 1 year low of $8.61 and a 1 year high of $20.86. The business has a fifty day moving average price of $10.45 and a two-hundred day moving average price of $11.73.

Paramount Skydance (NASDAQ:PSKY) last posted its quarterly earnings results on Monday, May 4th. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.08. The company had revenue of $7.35 billion during the quarter. Paramount Skydance had a positive return on equity of 4.58% and a negative net margin of 2.08%.During the same quarter in the previous year, the company posted $0.22 EPS. Analysts forecast that Paramount Skydance Corporation will post 0.54 earnings per share for the current year.

Paramount Skydance Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Monday, June 15th will be paid a dividend of $0.05 per share. The ex-dividend date is Monday, June 15th. This represents a $0.20 annualized dividend and a dividend yield of 1.9%. Paramount Skydance’s dividend payout ratio is presently 35.09%.

Analysts Set New Price Targets

A number of research firms recently commented on PSKY. Guggenheim lowered their price target on Paramount Skydance from $14.00 to $12.00 and set a “neutral” rating for the company in a research report on Tuesday, May 5th. Zacks Research raised Paramount Skydance from a “strong sell” rating to a “hold” rating in a research report on Friday, February 6th. TD Cowen reduced their price objective on Paramount Skydance from $15.00 to $13.00 and set a “hold” rating for the company in a research note on Thursday, February 26th. Morgan Stanley upgraded Paramount Skydance from an “underweight” rating to an “overweight” rating and upped their price objective for the company from $11.00 to $14.00 in a research note on Thursday, April 30th. Finally, Wells Fargo & Company reduced their price objective on Paramount Skydance from $8.00 to $7.00 and set an “underweight” rating for the company in a research note on Tuesday, May 5th. Two equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and eight have given a Sell rating to the company. According to MarketBeat, Paramount Skydance currently has a consensus rating of “Reduce” and a consensus price target of $12.77.

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.