Bank of New York Mellon Corp Invests $14.90 Million in Lionsgate Studios Corp. $LION

Key Points

• Bank of New York Mellon acquired 973,361 Lionsgate Studios shares worth approximately $14.9 million, giving it a 0.33% stake according to its latest 13F filing.
• Other institutional investors also increased their positions, including Anson Funds, Broad Bay Capital, Geode Capital and State Street, indicating continued institutional interest in LION.
• Analysts hold a “Moderate Buy” consensus with an average price target of $15.57. Lionsgate recently exceeded quarterly expectations, reporting $0.06 EPS versus an estimated $0.08 loss and revenue of $776.6 million.

Bank of New York Mellon Corp acquired a new position in shares of Lionsgate Studios Corp. (NYSE:LION - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 973,361 shares of the company's stock, valued at approximately $14,902,000. Bank of New York Mellon Corp owned approximately 0.33% of Lionsgate Studios as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of LION. Anson Funds Management LP grew its position 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 in the last quarter. Jericho Capital Asset Management L.P. purchased a new stake in shares of Lionsgate Studios in the 4th quarter valued at about $51,119,000. Broad Bay Capital Management LP boosted its position in shares of Lionsgate Studios by 38.7% during the 4th quarter. Broad Bay Capital Management LP now owns 5,168,008 shares of the company's stock valued at $47,184,000 after acquiring an additional 1,441,700 shares during the last quarter. Geode Capital Management LLC grew its holdings 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 worth $44,930,000 after purchasing an additional 331,025 shares in the last quarter. Finally, State Street Corp grew its holdings in shares of Lionsgate Studios by 3.7% during the fourth quarter. State Street Corp now owns 4,706,141 shares of the company's stock worth $42,967,000 after purchasing an additional 168,307 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on LION shares. Seaport Research Partners restated a "buy" rating and set a $17.00 price target on shares of Lionsgate Studios in a research report on Friday, August 7th. Barrington Research increased their price target on shares of Lionsgate Studios from $14.50 to $17.00 and gave the company an "outperform" rating in a research report on Tuesday, May 26th. B. Riley Financial decreased 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 note on Monday, August 10th. Morgan Stanley reaffirmed an "overweight" rating and issued a $15.00 price objective on shares of Lionsgate Studios in a research note on Thursday, August 6th. Finally, Wall Street Zen raised shares of Lionsgate Studios from a "hold" rating to a "buy" rating in a report on Saturday. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Lionsgate Studios has an average rating of "Moderate Buy" and a consensus target price of $15.57.

Lionsgate Studios Price Performance

LION stock opened at $11.03 on Wednesday. Lionsgate Studios Corp. has a 1 year low of $5.88 and a 1 year high of $16.70. The company has a market cap of $3.28 billion, a P/E ratio of -26.26 and a beta of 0.66. The firm has a 50-day moving average of $13.13 and a 200 day moving average of $12.02.

Lionsgate Studios (NYSE:LION - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.14. The business had revenue of $776.60 million for the quarter, compared to analysts' expectations 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.

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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