Coastal Bridge Advisors LLC bought a new stake in shares of Lionsgate Studios Corp. (NYSE:LION – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,430,706 shares of the company’s stock, valued at approximately $83,144,000. Lionsgate Studios makes up about 5.1% of Coastal Bridge Advisors LLC’s investment portfolio, making the stock its 2nd biggest position. Coastal Bridge Advisors LLC owned approximately 1.83% of Lionsgate Studios as of its most recent SEC filing.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Jefferies Financial Group Inc. purchased a new stake in Lionsgate Studios during the second quarter worth $88,896,000. Capstone Investment Advisors LLC purchased a new position in Lionsgate Studios in the second quarter valued at $6,231,000. Corient Private Wealth LP purchased a new position in Lionsgate Studios in the second quarter valued at $317,000. Avala Global LP acquired a new position in shares of Lionsgate Studios in the second quarter worth about $27,357,000. Finally, Bank of America Corp DE purchased a new stake in shares of Lionsgate Studios during the 2nd quarter worth about $7,214,000.
Analysts Set New Price Targets
LION has been the topic of a number of analyst reports. Zacks Research cut Lionsgate Studios from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. 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, June 17th. B. Riley Financial lowered their price target on Lionsgate Studios from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, August 10th. Wall Street Zen lowered Lionsgate Studios from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Finally, Benchmark increased their target price on Lionsgate Studios from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Six analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Lionsgate Studios currently has an average rating of “Moderate Buy” and a consensus price target of $15.57.
Lionsgate Studios Stock Performance
NYSE:LION opened at $11.52 on Friday. The company has a market cap of $3.43 billion, a P/E ratio of -27.43 and a beta of 0.72. The company’s 50-day moving average price is $13.37 and its 200-day moving average price is $11.98. Lionsgate Studios Corp. has a twelve month low of $5.88 and a twelve month high of $16.70.
Lionsgate Studios (NYSE:LION – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.14. The company had revenue of $776.60 million during the quarter, compared to analysts’ expectations of $703.10 million. On average, analysts expect that Lionsgate Studios Corp. will post 0.04 earnings per share for the current year.
Lionsgate Studios Company 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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