Wellington Management Group LLP Makes New $113.68 Million Investment in Lionsgate Studios Corp. $LION

Wellington Management Group LLP purchased a new position in shares of Lionsgate Studios Corp. (NYSE:LION) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 7,425,436 shares of the company’s stock, valued at approximately $113,683,000.

Several other institutional investors and hedge funds have also recently modified their holdings of LION. Osaic Holdings Inc. increased its position in 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 purchasing an additional 4,852 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new position in Lionsgate Studios in the 3rd quarter valued at about $38,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Lionsgate Studios in the 4th quarter valued at approximately $44,000. Farther Finance Advisors LLC grew its stake 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 valued at $55,000 after buying an additional 5,839 shares during the period. Finally, Walleye Trading LLC acquired a new stake in shares of Lionsgate Studios during the 2nd quarter worth approximately $60,000.

Lionsgate Studios Stock Performance

Shares of LION stock opened at $11.03 on Wednesday. The firm’s 50 day moving average price is $13.13 and its 200-day moving average price is $12.02. Lionsgate Studios Corp. has a one year low of $5.88 and a one year high of $16.70. The firm has a market cap of $3.28 billion, a P/E ratio of -26.26 and a beta of 0.66.

Lionsgate Studios (NYSE:LION) last posted its earnings results on Thursday, August 6th. The company reported $0.06 earnings per share for the quarter, beating the consensus estimate of ($0.08) by $0.14. The company had revenue of $776.60 million during the quarter, compared to analyst estimates of $703.10 million. As a group, research analysts predict that Lionsgate Studios Corp. will post 0.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on LION. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lionsgate Studios in a research report on Friday, July 17th. Benchmark raised their target price on Lionsgate Studios from $15.00 to $17.00 and gave the stock a “buy” rating in a research note on Thursday, June 11th. Zacks Research cut Lionsgate Studios from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 22nd. Robert W. Baird increased 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. Finally, Seaport Research Partners reissued a “buy” rating and set a $17.00 price objective on shares of Lionsgate Studios in a research report on Friday, August 7th. 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’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $15.57.

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.