The Manufacturers Life Insurance Company Makes New Investment in Lionsgate Studios Corp. $LION

The Manufacturers Life Insurance Company acquired a new position in Lionsgate Studios Corp. (NYSE:LION) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 48,589 shares of the company’s stock, valued at approximately $744,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Lionsgate Studios in the 2nd quarter valued at $251,521,000. Jericho Capital Asset Management L.P. bought a new position in shares of Lionsgate Studios in the 4th quarter worth $51,119,000. Cooper Creek Partners Management LLC acquired a new position in shares of Lionsgate Studios during the first quarter valued at about $43,715,000. Anson Funds Management LP raised its holdings in shares of Lionsgate Studios by 36.3% in the 4th quarter. Anson Funds Management LP now owns 9,556,948 shares of the company’s stock worth $87,255,000 after acquiring an additional 2,543,352 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in Lionsgate Studios by 273.4% in the 4th quarter. Marshall Wace LLP now owns 2,331,777 shares of the company’s stock valued at $21,289,000 after acquiring an additional 1,707,282 shares in the last quarter.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LION. Robert W. Baird lifted their target price on Lionsgate Studios from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, June 17th. B. Riley Financial dropped their price target on shares of Lionsgate Studios from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, August 10th. Seaport Research Partners reiterated a “buy” rating and issued a $17.00 price objective on shares of Lionsgate Studios in a research note on Friday, August 7th. Barrington Research upped their target price on Lionsgate Studios from $14.50 to $17.00 and gave the company an “outperform” rating in a report on Tuesday, May 26th. Finally, Benchmark lifted their price target on Lionsgate Studios from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $15.57.

Lionsgate Studios Stock Performance

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 50-day simple moving average of $12.85 and a 200 day simple moving average of $12.06. The company has a market capitalization of $3.33 billion, a PE ratio of -26.62 and a beta of 0.66.

Lionsgate Studios (NYSE:LION) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.14. The company had revenue of $776.60 million during the quarter, compared to the consensus estimate of $703.10 million. As a group, analysts forecast that Lionsgate Studios Corp. will post 0.04 EPS for the current fiscal 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.