Connor Clark & Lunn Investment Management Ltd. Makes New $10.63 Million Investment in Lionsgate Studios Corp. $LION

Key Points

• Connor Clark & Lunn Investment Management acquired 694,480 shares of Lionsgate Studios worth approximately $10.63 million, representing a 0.23% stake. Other institutions, including BlackRock, also initiated positions during the second quarter.
• Lionsgate shares opened at $11.54, down 2%, while the company reported quarterly earnings of $0.06 per share and revenue of $776.6 million—beating analyst expectations.
• Analysts maintain a Moderate Buy consensus with an average price target of $15.57, although some firms recently lowered ratings or price targets.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Lionsgate Studios Corp. (NYSE:LION - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 694,480 shares of the company's stock, valued at approximately $10,632,000. Connor Clark & Lunn Investment Management Ltd. owned 0.23% of Lionsgate Studios at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Quantbot Technologies LP bought a new stake in shares of Lionsgate Studios during the 2nd quarter worth $532,000. K2 Principal Fund L.P. bought a new position in Lionsgate Studios during the second quarter valued at about $536,000. K.J. Harrison & Partners Inc bought a new position in Lionsgate Studios during the second quarter valued at about $1,148,000. BlackRock Inc. purchased a new stake in Lionsgate Studios during the second quarter worth about $251,521,000. Finally, Deutsche Bank AG purchased a new stake in Lionsgate Studios during the second quarter worth about $3,326,000.

Lionsgate Studios Stock Down 2.0%

Shares of NYSE:LION opened at $11.54 on Thursday. The firm has a market capitalization of $3.43 billion, a PE ratio of -27.48 and a beta of 0.72. Lionsgate Studios Corp. has a twelve month low of $5.88 and a twelve month high of $16.70. The company has a 50-day moving average price of $13.45 and a two-hundred day moving average price of $11.96.

Lionsgate Studios (NYSE:LION - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.06 earnings per share for the quarter, topping 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. Analysts anticipate that Lionsgate Studios Corp. will post 0.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

LION has been the topic of a number of research analyst reports. B. Riley Financial dropped 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 note on Monday, August 10th. Raymond James Financial restated an "outperform" rating and set a $15.00 price target on shares of Lionsgate Studios in a research note on Friday, May 22nd. Wall Street Zen cut shares of Lionsgate Studios from a "buy" rating to a "hold" rating in a report on Saturday, June 13th. Barrington Research lifted their price target on shares of Lionsgate Studios from $14.50 to $17.00 and gave the stock an "outperform" rating in a report on Tuesday, May 26th. Finally, Benchmark upped their price objective on Lionsgate Studios from $15.00 to $17.00 and gave the company a "buy" rating in a research note on Thursday, June 11th. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average 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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