Bank of America Corp DE Sells 247,974 Shares of Lionsgate Studios Corp. $LION

Key Points

• Bank of America reduced its Lionsgate Studios stake by 36.1%, selling 247,974 shares and retaining 439,133 shares worth approximately $4.21 million, or 0.15% of the company.
• Lionsgate reported quarterly adjusted earnings of $0.06 per share, beating estimates by $0.14, while revenue of $776.6 million exceeded the $703.1 million consensus forecast.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus and an average price target of $15.57 versus the stock’s recent price of $11.44.

Bank of America Corp DE reduced its stake in shares of Lionsgate Studios Corp. (NYSE:LION - Free Report) by 36.1% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 439,133 shares of the company's stock after selling 247,974 shares during the period. Bank of America Corp DE owned about 0.15% of Lionsgate Studios worth $4,211,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Caitong International Asset Management Co. Ltd purchased a new position in Lionsgate Studios in the fourth quarter valued at approximately $44,000. Osaic Holdings Inc. raised its stake in shares of Lionsgate Studios by 4,852.0% in the second quarter. Osaic Holdings Inc. now owns 4,952 shares of the company's stock valued at $29,000 after buying an additional 4,852 shares during the period. CIBC Private Wealth Group LLC bought a new stake in shares of Lionsgate Studios in the third quarter valued at $38,000. Farther Finance Advisors LLC lifted its position in shares of Lionsgate Studios by 4,457.3% during 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 last quarter. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Lionsgate Studios during the 4th quarter valued at $70,000.

Lionsgate Studios Price Performance

NYSE:LION opened at $11.44 on Friday. The firm has a market capitalization of $3.40 billion, a P/E ratio of -27.24 and a beta of 0.72. Lionsgate Studios Corp. has a one year low of $5.88 and a one year high of $16.70. The company's 50-day simple moving average is $13.29 and its 200 day simple moving average is $11.98.

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, topping analysts' consensus estimates 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. On average, equities research analysts expect that Lionsgate Studios Corp. will post 0.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

LION has been the subject of several recent research reports. Barrington Research lifted their target price on shares of Lionsgate Studios from $14.50 to $17.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 26th. Robert W. Baird lifted their price objective on shares of Lionsgate Studios from $18.00 to $20.00 and gave the company an "outperform" rating in a research note on Wednesday, June 17th. Wall Street Zen downgraded Lionsgate Studios from a "buy" rating to a "hold" rating in a research report on Saturday, June 13th. Zacks Research cut shares of Lionsgate Studios from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 22nd. Finally, Raymond James Financial reissued an "outperform" rating and set a $15.00 price objective on shares of Lionsgate Studios in a research note on Friday, May 22nd. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, Lionsgate Studios has a consensus 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.

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