Goldman Sachs Group Inc. Increases Stock Position in Lionsgate Studios Corp. $LION

Key Points

• Goldman Sachs Group Inc. increased its stake in Lionsgate Studios by 198.5%, owning 414,795 shares valued at approximately $3.1 million after acquiring an additional 275,839 shares.
• Several institutional investors, including Anson Funds Management LP and Alpine Global Management LLC, significantly increased their holdings in Lionsgate Studios during the first quarter, reflecting growing interest in the company.
• Lionsgate Studios' shares are currently trading around $6.93, with a recent earnings report showing a loss of ($0.34) per share, missing analysts' expectations.

Goldman Sachs Group Inc. raised its position in shares of Lionsgate Studios Corp. (NYSE:LION - Free Report) by 198.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 414,795 shares of the company's stock after buying an additional 275,839 shares during the period. Goldman Sachs Group Inc. owned about 0.14% of Lionsgate Studios worth $3,099,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Anson Funds Management LP boosted its position in shares of Lionsgate Studios by 11.9% during the first quarter. Anson Funds Management LP now owns 3,538,500 shares of the company's stock worth $26,433,000 after buying an additional 375,409 shares during the period. Millennium Management LLC boosted its holdings in Lionsgate Studios by 72.6% in the first quarter. Millennium Management LLC now owns 1,991,515 shares of the company's stock valued at $14,877,000 after purchasing an additional 837,774 shares during the period. Alpine Global Management LLC boosted its holdings in Lionsgate Studios by 570.9% in the first quarter. Alpine Global Management LLC now owns 221,753 shares of the company's stock valued at $1,656,000 after purchasing an additional 188,700 shares during the period. Jane Street Group LLC purchased a new position in Lionsgate Studios in the first quarter valued at $825,000. Finally, Nexpoint Asset Management L.P. boosted its holdings in Lionsgate Studios by 11.8% in the first quarter. Nexpoint Asset Management L.P. now owns 88,370 shares of the company's stock valued at $660,000 after purchasing an additional 9,300 shares during the period.

Insiders Place Their Bets

In other Lionsgate Studios news, major shareholder Liberty 77 Capital L.P. acquired 72,089 shares of the stock in a transaction on Wednesday, July 9th. The shares were bought at an average price of $5.59 per share, with a total value of $402,977.51. Following the acquisition, the insider owned 37,548,125 shares of the company's stock, valued at $209,894,018.75. This trade represents a 0.19% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Over the last 90 days, insiders purchased 651,855 shares of company stock valued at $3,675,834.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Morgan Stanley decreased their target price on Lionsgate Studios from $8.50 to $8.00 and set an "overweight" rating for the company in a report on Tuesday, May 27th. Wall Street Zen downgraded Lionsgate Studios from a "hold" rating to a "sell" rating in a report on Sunday, August 10th. Rosenblatt Securities decreased their price target on Lionsgate Studios from $13.00 to $9.00 and set a "buy" rating for the company in a report on Wednesday, June 4th. Wells Fargo & Company initiated coverage on Lionsgate Studios in a report on Tuesday, August 5th. They set an "overweight" rating and a $9.00 price target for the company. Finally, Wolfe Research initiated coverage on Lionsgate Studios in a report on Tuesday, July 29th. They set a "peer perform" rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Lionsgate Studios presently has a consensus rating of "Moderate Buy" and an average price target of $8.75.

Lionsgate Studios Trading Up 2.0%

Shares of Lionsgate Studios stock traded up $0.14 on Tuesday, hitting $7.00. The stock had a trading volume of 599,521 shares, compared to its average volume of 2,494,701. The stock has a market cap of $2.03 billion, a price-to-earnings ratio of -10.45 and a beta of -0.22. Lionsgate Studios Corp. has a 52-week low of $5.55 and a 52-week high of $8.50. The company's 50 day moving average price is $6.47 and its 200 day moving average price is $7.11.

Lionsgate Studios (NYSE:LION - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.18). Analysts predict that Lionsgate Studios Corp. will post 0.08 EPS for the current fiscal year.

Lionsgate Studios Profile

Lionsgate Studios Corp. engages in the provision of motion picture and studio operations that bring a varied portfolio of entertainment to consumers. The company is headquartered in Santa Monica, CA.