BlackRock Inc. Takes $251.52 Million Position in Lionsgate Studios Corp. $LION

BlackRock Inc. purchased a new position in shares of Lionsgate Studios Corp. (NYSE:LION - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 16,428,570 shares of the company's stock, valued at approximately $251,521,000. BlackRock Inc. owned approximately 5.52% of Lionsgate Studios as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of LION. New York State Common Retirement Fund boosted its stake in Lionsgate Studios by 2.3% in the fourth quarter. New York State Common Retirement Fund now owns 53,587 shares of the company's stock valued at $489,000 after buying an additional 1,200 shares in the last quarter. Cresset Asset Management LLC lifted its holdings in shares of Lionsgate Studios by 2.9% in the third quarter. Cresset Asset Management LLC now owns 60,924 shares of the company's stock worth $420,000 after acquiring an additional 1,743 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. lifted its holdings in shares of Lionsgate Studios by 10.0% in the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 20,925 shares of the company's stock worth $191,000 after acquiring an additional 1,900 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Lionsgate Studios by 6.9% in the 4th quarter. ProShare Advisors LLC now owns 37,454 shares of the company's stock valued at $342,000 after purchasing an additional 2,410 shares in the last quarter. Finally, CWM LLC boosted its stake in shares of Lionsgate Studios by 51.6% in the 4th quarter. CWM LLC now owns 9,291 shares of the company's stock valued at $85,000 after purchasing an additional 3,161 shares in the last quarter.

Analyst Upgrades and Downgrades

LION has been the topic of several research reports. Barrington Research lifted their price target on shares of Lionsgate Studios from $14.50 to $17.00 and gave the company an "outperform" rating in a report on Tuesday, May 26th. B. Riley Financial cut their target price on shares of Lionsgate Studios from $17.00 to $16.00 and set a "neutral" rating on the stock in a research report on Monday, August 10th. Benchmark boosted their target price on shares of Lionsgate Studios from $15.00 to $17.00 and gave the stock a "buy" rating in a research note on Thursday, June 11th. Zacks Research downgraded shares of Lionsgate Studios from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 22nd. Finally, Morgan Stanley reiterated an "overweight" rating and issued a $15.00 price target on shares of Lionsgate Studios in a research note on Thursday, August 6th. Six 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, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $15.57.

Lionsgate Studios Price Performance

NYSE:LION opened at $11.54 on Thursday. Lionsgate Studios Corp. has a one year low of $5.88 and a one year high of $16.70. The company has a market cap of $3.43 billion, a PE ratio of -27.48 and a beta of 0.72. The firm's 50 day simple moving average is $13.45 and its 200 day simple moving average is $11.96.

Lionsgate Studios (NYSE:LION - Get Free Report) last announced its quarterly 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 during the quarter, compared to analyst estimates of $703.10 million. Equities research analysts expect that Lionsgate Studios Corp. will post 0.04 EPS for the current year.

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.

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