Cercano Management LLC Cuts Stake in Lionsgate Studios Corp. $LION

Cercano Management LLC decreased its position in shares of Lionsgate Studios Corp. (NYSE:LION) by 1.0% during the second quarter, HoldingsChannel reports. The institutional investor owned 973,567 shares of the company’s stock after selling 10,200 shares during the period. Cercano Management LLC’s holdings in Lionsgate Studios were worth $5,656,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Liberty 77 Capital L.P. bought a new stake in shares of Lionsgate Studios in the second quarter worth approximately $214,831,000. Geode Capital Management LLC increased its holdings in Lionsgate Studios by 658.6% in the 2nd quarter. Geode Capital Management LLC now owns 4,740,225 shares of the company’s stock worth $27,547,000 after acquiring an additional 4,115,334 shares in the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Lionsgate Studios in the second quarter worth $7,157,000. Kornitzer Capital Management Inc. KS purchased a new stake in Lionsgate Studios in the 2nd quarter worth $6,787,000. Finally, Millennium Management LLC raised its stake in Lionsgate Studios by 72.6% during the 1st quarter. Millennium Management LLC now owns 1,991,515 shares of the company’s stock valued at $14,877,000 after purchasing an additional 837,774 shares during the period.

Lionsgate Studios Stock Performance

Shares of Lionsgate Studios stock opened at $6.66 on Friday. Lionsgate Studios Corp. has a one year low of $5.55 and a one year high of $8.50. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of -9.94 and a beta of -0.12. The stock has a 50 day moving average price of $6.61 and a 200-day moving average price of $6.56.

Lionsgate Studios (NYSE:LION) last released its earnings results on Thursday, November 6th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.14). Sell-side analysts predict that Lionsgate Studios Corp. will post 0.08 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Zacks Research upgraded Lionsgate Studios from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 7th. Barrington Research restated an “outperform” rating and set a $8.50 target price on shares of Lionsgate Studios in a research report on Friday, November 7th. Wolfe Research assumed coverage on shares of Lionsgate Studios in a report on Tuesday, July 29th. They issued a “peer perform” rating on the stock. Wells Fargo & Company assumed coverage on Lionsgate Studios in a research report on Tuesday, August 5th. They set an “overweight” rating and a $9.00 price objective for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Lionsgate Studios in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Lionsgate Studios has a consensus rating of “Moderate Buy” and an average target price of $8.73.

Lionsgate Studios Company Profile

Lionsgate Studios Corp. engages in the provision of motion picture and studio operations that bring a varied portfolio of entertainment to consumers. The company is headquartered in Santa Monica, CA.