Geode Capital Management LLC Decreases Stock Holdings in Paramount Skydance Corporation $PSKY

Geode Capital Management LLC decreased its position in Paramount Skydance Corporation (NASDAQ:PSKY) by 7.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,752,194 shares of the company’s stock after selling 591,310 shares during the quarter. Geode Capital Management LLC owned approximately 0.72% of Paramount Skydance worth $103,687,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of PSKY. CYBER HORNET ETFs LLC purchased a new position in shares of Paramount Skydance during the third quarter valued at about $25,000. Kelleher Financial Advisors purchased a new position in shares of Paramount Skydance during the third quarter valued at about $32,000. Center for Financial Planning Inc. purchased a new position in shares of Paramount Skydance during the third quarter valued at about $35,000. Addison Advisors LLC purchased a new position in shares of Paramount Skydance during the third quarter valued at about $42,000. Finally, Larson Financial Group LLC increased its position in shares of Paramount Skydance by 539.3% during the fourth quarter. Larson Financial Group LLC now owns 2,295 shares of the company’s stock valued at $31,000 after buying an additional 1,936 shares during the period. Hedge funds and other institutional investors own 73.00% of the company’s stock.

Analysts Set New Price Targets

PSKY has been the topic of several research analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Paramount Skydance in a research report on Friday, March 27th. TD Cowen reduced their price target on shares of Paramount Skydance from $15.00 to $13.00 and set a “hold” rating on the stock in a research report on Thursday, February 26th. Morgan Stanley upgraded shares of Paramount Skydance from an “underweight” rating to an “overweight” rating and boosted their price target for the company from $11.00 to $14.00 in a research report on Thursday, April 30th. Guggenheim reduced their price target on shares of Paramount Skydance from $14.00 to $12.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 5th. Finally, Wells Fargo & Company reduced 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. Two equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and eight have assigned a Sell rating to the stock. According to data from MarketBeat.com, Paramount Skydance currently has an average rating of “Reduce” and an average price target of $12.77.

Paramount Skydance Price Performance

Shares of PSKY opened at $10.22 on Friday. The stock has a market cap of $11.44 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 0.78 and a beta of 1.43. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.00 and a current ratio of 1.10. Paramount Skydance Corporation has a fifty-two week low of $8.61 and a fifty-two week high of $20.86. The firm’s 50-day simple moving average is $10.50 and its two-hundred day simple moving average is $11.69.

Paramount Skydance (NASDAQ:PSKY) last announced its quarterly earnings data on Monday, May 4th. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.08. The business had revenue of $7.35 billion for the quarter. Paramount Skydance had a negative net margin of 2.08% and a positive return on equity of 4.58%. During the same quarter last year, the company posted $0.22 EPS. Analysts anticipate that Paramount Skydance Corporation will post 0.55 earnings per share for the current fiscal year.

Paramount Skydance Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Shareholders of record on Monday, June 15th will be issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Monday, June 15th. Paramount Skydance’s dividend payout ratio is 35.09%.

Paramount Skydance 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.