Avala Global LP Takes Position in Lionsgate Studios Corp. $LION

Key Points

• Avala Global LP acquired 1.79 million Lionsgate Studios shares in the second quarter, worth approximately $27.4 million and representing 0.60% of the company and about 1% of Avala’s portfolio.
• Other major investors also increased exposure, including BlackRock, which opened a roughly $251.5 million position, while Anson Funds and Broad Bay Capital expanded their stakes.
• Lionsgate exceeded quarterly expectations with $0.06 in EPS versus an $0.08 loss estimate and $776.6 million in revenue. Analysts maintain a “Moderate Buy” consensus with an average price target of $15.57, above the reported $11.54 share price.

Avala Global LP acquired a new stake 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 institutional investor acquired 1,786,857 shares of the company's stock, valued at approximately $27,357,000. Lionsgate Studios comprises about 1.0% of Avala Global LP's portfolio, making the stock its 28th largest position. Avala Global LP owned 0.60% of Lionsgate Studios at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in LION. BlackRock Inc. purchased a new position in shares of Lionsgate Studios during the 2nd quarter worth $251,521,000. Anson Funds Management LP boosted its stake in Lionsgate Studios by 36.3% during the fourth quarter. Anson Funds Management LP now owns 9,556,948 shares of the company's stock worth $87,255,000 after buying an additional 2,543,352 shares during the period. Jericho Capital Asset Management L.P. purchased a new position in Lionsgate Studios during the fourth quarter worth about $51,119,000. Broad Bay Capital Management LP boosted its stake in Lionsgate Studios by 38.7% during the fourth quarter. Broad Bay Capital Management LP now owns 5,168,008 shares of the company's stock worth $47,184,000 after buying an additional 1,441,700 shares during the period. Finally, Geode Capital Management LLC increased its position in shares of Lionsgate Studios by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 4,920,277 shares of the company's stock valued at $44,930,000 after acquiring an additional 331,025 shares during the last quarter.

Lionsgate Studios Stock Performance

Shares of LION stock opened at $11.54 on Thursday. Lionsgate Studios Corp. has a fifty-two week low of $5.88 and a fifty-two week high of $16.70. The company has a 50 day moving average price of $13.45 and a 200 day moving average price of $11.96. The stock has a market capitalization of $3.43 billion, a P/E ratio of -27.48 and a beta of 0.72.

Lionsgate Studios (NYSE:LION - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.14. The business had revenue of $776.60 million during the quarter, compared to analysts' expectations of $703.10 million. On average, research analysts forecast that Lionsgate Studios Corp. will post 0.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Raymond James Financial reissued an "outperform" rating and issued a $15.00 price target on shares of Lionsgate Studios in a research note on Friday, May 22nd. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Lionsgate Studios in a research report on Friday, July 17th. Morgan Stanley reiterated an "overweight" rating and issued a $15.00 target price on shares of Lionsgate Studios in a report on Thursday, August 6th. Seaport Research Partners reissued a "buy" rating and issued a $17.00 target price on shares of Lionsgate Studios in a research report on Friday, August 7th. Finally, Benchmark upped their price target on Lionsgate Studios from $15.00 to $17.00 and gave the stock a "buy" rating in a research note on Thursday, June 11th. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, Lionsgate Studios currently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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