Legal & General Group Plc Buys Shares of 164,315 Lionsgate Studios Corp. $LION

Legal & General Group Plc purchased a new stake in shares of Lionsgate Studios Corp. (NYSE:LION) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 164,315 shares of the company’s stock, valued at approximately $2,516,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of LION. Millennium Management LLC grew its holdings in shares of Lionsgate Studios by 72.6% in the first quarter. Millennium Management LLC now owns 1,991,515 shares of the company’s stock worth $14,877,000 after acquiring an additional 837,774 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Lionsgate Studios by 198.5% in the first quarter. Goldman Sachs Group Inc. now owns 414,795 shares of the company’s stock valued at $3,099,000 after acquiring an additional 275,839 shares during the period. Jane Street Group LLC bought a new position in Lionsgate Studios in the first quarter valued at about $825,000. Envestnet Asset Management Inc. purchased a new position in Lionsgate Studios in the second quarter worth about $77,000. Finally, Creative Planning bought a new stake in shares of Lionsgate Studios during the 2nd quarter valued at about $117,000.

Lionsgate Studios Stock Up 0.7%

NYSE LION opened at $11.18 on Friday. Lionsgate Studios Corp. has a 52 week low of $5.88 and a 52 week high of $16.70. The company has a market capitalization of $3.33 billion, a P/E ratio of -26.62 and a beta of 0.66. The stock’s 50-day moving average price is $12.85 and its 200-day moving average price is $12.06.

Lionsgate Studios (NYSE:LION) last released its earnings results on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.14. The firm had revenue of $776.60 million during the quarter, compared to analysts’ expectations of $703.10 million. Research analysts anticipate that Lionsgate Studios Corp. will post 0.04 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on LION. B. Riley Financial dropped their price objective on shares of Lionsgate Studios from $17.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, August 10th. Wall Street Zen downgraded shares of Lionsgate Studios from a “buy” rating to a “hold” rating in a research report on Sunday. Raymond James Financial reiterated an “outperform” rating and set a $15.00 price target on shares of Lionsgate Studios in a research note on Friday, May 22nd. Robert W. Baird boosted their price objective on shares of Lionsgate Studios from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, June 17th. Finally, Zacks Research lowered Lionsgate Studios from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $15.57.

About Lionsgate Studios

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.