Gabelli Funds LLC Acquires 56,000 Shares of Lionsgate Studios Corp. $LION

Gabelli Funds LLC boosted its stake in shares of Lionsgate Studios Corp. (NYSE:LION) by 9.8% in the third quarter, Holdings Channel reports. The institutional investor owned 628,400 shares of the company’s stock after acquiring an additional 56,000 shares during the period. Gabelli Funds LLC’s holdings in Lionsgate Studios were worth $4,336,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of LION. Osaic Holdings Inc. increased its holdings in shares of Lionsgate Studios by 4,852.0% in the 2nd quarter. Osaic Holdings Inc. now owns 4,952 shares of the company’s stock valued at $29,000 after acquiring an additional 4,852 shares during the period. KBC Group NV purchased a new stake in shares of Lionsgate Studios during the 2nd quarter worth $37,000. Walleye Trading LLC bought a new stake in Lionsgate Studios during the second quarter valued at about $60,000. State of Alaska Department of Revenue bought a new stake in Lionsgate Studios during the third quarter valued at about $63,000. Finally, Orion Porfolio Solutions LLC purchased a new position in Lionsgate Studios in the second quarter valued at about $70,000.

Insiders Place Their Bets

In other Lionsgate Studios news, insider Michael Raymond Burns sold 21,748 shares of the business’s stock in a transaction that occurred on Tuesday, December 23rd. The shares were sold at an average price of $9.01, for a total transaction of $195,949.48. Following the sale, the insider owned 3,061,213 shares of the company’s stock, valued at approximately $27,581,529.13. The trade was a 0.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 32.10% of the company’s stock.

Lionsgate Studios Stock Performance

Lionsgate Studios stock opened at $10.48 on Tuesday. The stock has a market cap of $3.04 billion, a PE ratio of -12.33 and a beta of -0.38. The stock has a 50-day moving average of $9.08 and a two-hundred day moving average of $7.72. Lionsgate Studios Corp. has a one year low of $5.55 and a one year high of $11.02.

Lionsgate Studios (NYSE:LION) last posted its quarterly earnings data on Thursday, February 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The firm had revenue of $724.30 million for the quarter, compared to analysts’ expectations of $706.03 million. As a group, sell-side analysts predict that Lionsgate Studios Corp. will post 0.08 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LION has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lionsgate Studios in a report on Thursday, January 22nd. Wall Street Zen downgraded shares of Lionsgate Studios from a “hold” rating to a “sell” rating in a research report on Saturday, February 14th. Wells Fargo & Company boosted their price objective on shares of Lionsgate Studios from $9.00 to $12.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Benchmark increased their target price on shares of Lionsgate Studios from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, February 3rd. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $11.00 price target on shares of Lionsgate Studios in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $9.86.

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.