471,165 Shares of Lionsgate Studios Corp. $LION Purchased by Bank of America Corp DE

Key Points

• Bank of America acquired 471,165 Lionsgate Studios shares in the second quarter, worth approximately $7.2 million and representing a 0.16% stake.
• Lionsgate exceeded quarterly expectations, reporting $0.06 in EPS versus estimates of a $0.08 loss, while revenue reached $776.6 million compared with the $703.1 million consensus forecast.
• Analyst sentiment is generally positive, with a “Moderate Buy” consensus and an average price target of $15.16, compared with the stock’s recent price of $10.88.

Bank of America Corp DE acquired a new position in Lionsgate Studios Corp. (NYSE:LION - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 471,165 shares of the company's stock, valued at approximately $7,214,000. Bank of America Corp DE owned 0.16% of Lionsgate Studios as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the business. Lido Advisors LLC bought a new stake in shares of Lionsgate Studios in the first quarter valued at approximately $112,000. Global Retirement Partners LLC bought a new position in Lionsgate Studios during the fourth quarter worth $114,000. Praxis Investment Management Inc. acquired a new position in Lionsgate Studios during the 1st quarter valued at $117,000. State of Wyoming bought a new stake in Lionsgate Studios in the 1st quarter valued at $145,000. Finally, Abel Hall LLC grew its position in Lionsgate Studios by 52.2% in the 1st quarter. Abel Hall LLC now owns 17,397 shares of the company's stock worth $167,000 after purchasing an additional 5,968 shares during the last quarter.

Lionsgate Studios Price Performance

Lionsgate Studios stock opened at $10.88 on Monday. The firm has a market capitalization of $3.24 billion, a P/E ratio of -25.90 and a beta of 0.66. The stock has a fifty day moving average price of $11.97 and a two-hundred day moving average price of $12.32. Lionsgate Studios Corp. has a 52-week low of $5.88 and a 52-week high of $16.70.

Lionsgate Studios (NYSE:LION - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.08) by $0.14. The firm had revenue of $776.60 million for the quarter, compared to analyst estimates of $703.10 million. On average, equities research analysts predict that Lionsgate Studios Corp. will post 0.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Citizens Jmp started coverage on Lionsgate Studios in a report on Monday, September 14th. They set a "market outperform" rating and a $18.00 price objective on the stock. Morgan Stanley restated an "overweight" rating and issued a $15.00 target price on shares of Lionsgate Studios in a research note on Thursday, August 6th. JPMorgan Chase & Co. began coverage on Lionsgate Studios in a research report on Friday. They issued an "underweight" rating and a $9.00 target price for the company. Seaport Research Partners reiterated a "buy" rating and set a $17.00 price target on shares of Lionsgate Studios in a research note on Friday, August 7th. Finally, Zacks Research lowered shares of Lionsgate Studios from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 22nd. Eight investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Lionsgate Studios has an average rating of "Moderate Buy" and a consensus target price of $15.16.

Lionsgate Studios Company Profile

Lionsgate Studios Corp. NYSE: LION is an entertainment company focused on the development, production and distribution of motion pictures and television programming. Its studio operations include theatrical films, television series, home entertainment and digital distribution, as well as the licensing and monetization of a broad content library.

The company owns or distributes well-known film franchises such as The Hunger Games, John Wick, Saw, Twilight and Now You See Me.

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