Irenic Capital Management LP purchased a new position in shares of Lionsgate Studios Corp. (NYSE:LION – Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 95,400 shares of the company’s stock, valued at approximately $871,000.
A number of other large investors also recently modified their holdings of LION. Osaic Holdings Inc. lifted its holdings in shares of Lionsgate Studios by 4,852.0% during the second quarter. Osaic Holdings Inc. now owns 4,952 shares of the company’s stock worth $29,000 after buying an additional 4,852 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Lionsgate Studios by 99.3% during the fourth quarter. GAMMA Investing LLC now owns 3,559 shares of the company’s stock worth $32,000 after buying an additional 1,773 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new position in shares of Lionsgate Studios during the third quarter worth approximately $38,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Lionsgate Studios during the fourth quarter worth approximately $44,000. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Lionsgate Studios during the fourth quarter worth approximately $55,000.
Lionsgate Studios Trading Down 7.0%
Shares of NYSE LION opened at $15.21 on Thursday. The business has a fifty day simple moving average of $12.76 and a 200 day simple moving average of $10.31. Lionsgate Studios Corp. has a one year low of $5.55 and a one year high of $16.70. The firm has a market capitalization of $4.42 billion, a price-to-earnings ratio of -21.12 and a beta of 0.69.
Lionsgate Studios News Roundup
- Positive Sentiment: Robert W. Baird raised its price target on Lionsgate Studios to $20 from $18 and kept an outperform rating, signaling continued analyst confidence in upside from current levels. Benzinga
- Positive Sentiment: Shares surged on takeover chatter after reports suggested Netflix was considering a bid, and the stock also hit a new 52-week high as investors rushed into the name. Benzinga
- Neutral Sentiment: The move also triggered unusually heavy call-option buying, showing strong speculative interest but not a fundamental change in the business outlook.
- Negative Sentiment: Netflix publicly denied acquisition interest, removing the main catalyst behind the recent rally and prompting a pullback in Lionsgate Studios shares. MSN
Analysts Set New Price Targets
A number of brokerages have recently commented on LION. Robert W. Baird upped their price target on Lionsgate Studios from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday. Citigroup lowered Lionsgate Studios from a “buy” rating to a “neutral” rating and upped their target price for the company from $11.00 to $12.60 in a research note on Monday, April 20th. Morgan Stanley upped their target price on Lionsgate Studios from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Wall Street Zen lowered Lionsgate Studios from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Finally, Benchmark upped their target price on Lionsgate Studios from $15.00 to $17.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lionsgate Studios currently has an average rating of “Moderate Buy” and a consensus target price of $15.37.
Get Our Latest Analysis on LION
Lionsgate Studios Profile
Lionsgate Studios, operating under the ticker NYSE:LION, is a leading global entertainment company specializing in the production, acquisition and distribution of motion pictures, television programming and digital content. Headquartered in Santa Monica, California, and with additional operations in Vancouver, the company develops, finances and markets feature films that span a wide range of genres—from major franchise hits like The Hunger Games and John Wick to independent and specialty titles.
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