BlackRock Inc. Takes $251.52 Million Position in Lionsgate Studios Corp. $LION

BlackRock Inc. acquired a new position in shares of Lionsgate Studios Corp. (NYSE:LION) in the second quarter, Holdings Channel reports. The institutional investor acquired 16,428,570 shares of the company’s stock, valued at approximately $251,521,000. BlackRock Inc. owned about 0.06% of Lionsgate Studios at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Osaic Holdings Inc. increased its position in Lionsgate Studios by 4,852.0% during the 2nd quarter. Osaic Holdings Inc. now owns 4,952 shares of the company’s stock valued at $29,000 after purchasing an additional 4,852 shares during the period. CIBC Private Wealth Group LLC bought a new position in Lionsgate Studios during the 3rd quarter worth approximately $38,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Lionsgate Studios in the 4th quarter worth approximately $44,000. Farther Finance Advisors LLC lifted its position in shares of Lionsgate Studios by 4,457.3% in the 4th quarter. Farther Finance Advisors LLC now owns 5,970 shares of the company’s stock worth $55,000 after purchasing an additional 5,839 shares during the period. Finally, Walleye Trading LLC bought a new stake in shares of Lionsgate Studios in the 2nd quarter valued at $60,000.

Lionsgate Studios Price Performance

Shares of LION opened at $11.54 on Thursday. The stock has a 50-day moving average of $13.45 and a 200-day moving average of $11.96. The company has a market cap of $3.43 billion, a PE ratio of -27.48 and a beta of 0.72. Lionsgate Studios Corp. has a one year low of $5.88 and a one year high of $16.70.

Lionsgate Studios (NYSE:LION) last issued its earnings results on Thursday, August 6th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.14. The firm had revenue of $776.60 million during the quarter, compared to the consensus estimate of $703.10 million. Analysts expect that Lionsgate Studios Corp. will post 0.04 EPS for the current fiscal year.

Analysts Set New Price Targets

LION has been the subject of several recent analyst reports. Raymond James Financial reiterated an “outperform” rating and set a $15.00 price objective on shares of Lionsgate Studios in a research report on Friday, May 22nd. Seaport Research Partners restated a “buy” rating and issued a $17.00 target price on shares of Lionsgate Studios in a report on Friday, August 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lionsgate Studios in a research report on Friday, July 17th. Wall Street Zen downgraded Lionsgate Studios from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Finally, Benchmark lifted their price objective on Lionsgate Studios from $15.00 to $17.00 and gave the stock a “buy” rating in a research report on Thursday, June 11th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.