Herbst Group LLC Purchases Shares of 180,600 Lionsgate Studios Corp. $LION

Key Points

• Herbst Group LLC purchased a new stake of 180,600 shares in Lionsgate (NYSE:LION) in Q4, worth about $1.65 million and representing roughly 0.06% of the company.
• Several large institutions materially increased positions—Marshall Wace (+3,352%), Invesco (+164%), Bank of America (+4,609.5%) and Millennium (+72.6%)—signaling notable institutional buying interest.
• Analysts have a consensus "Moderate Buy" with an average price target of $10.05 (recent targets raised to $11–$12 by firms like Citigroup and Wells Fargo), while the stock trades near $9.55 after a quarterly EPS miss (-$0.07 vs -$0.02) but a revenue beat.

Herbst Group LLC purchased a new stake in shares of Lionsgate Studios Corp. (NYSE:LION - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 180,600 shares of the company's stock, valued at approximately $1,649,000. Herbst Group LLC owned about 0.06% of Lionsgate Studios as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of LION. Marshall Wace LLP increased its holdings in Lionsgate Studios by 3,352.1% in the second quarter. Marshall Wace LLP now owns 1,753,646 shares of the company's stock valued at $10,189,000 after purchasing an additional 1,702,846 shares during the period. Ratan Capital Management LP acquired a new position in Lionsgate Studios during the 3rd quarter worth about $9,142,000. Invesco Ltd. grew its position in shares of Lionsgate Studios by 164.4% in the 3rd quarter. Invesco Ltd. now owns 1,811,579 shares of the company's stock valued at $12,500,000 after buying an additional 1,126,478 shares during the last quarter. Bank of America Corp DE grew its position in shares of Lionsgate Studios by 4,609.5% in the 2nd quarter. Bank of America Corp DE now owns 1,103,709 shares of the company's stock valued at $6,413,000 after buying an additional 1,080,273 shares during the last quarter. Finally, Millennium Management LLC increased its stake in shares of 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 buying an additional 837,774 shares during the period.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LION. Morgan Stanley restated an "overweight" rating and set a $11.00 price objective on shares of Lionsgate Studios in a research report on Friday, February 6th. Zacks Research raised shares of Lionsgate Studios from a "strong sell" rating to a "hold" rating in a research report on Monday, January 5th. Citigroup raised their price target on shares of Lionsgate Studios from $9.00 to $11.00 and gave the stock a "buy" rating in a report on Monday, March 23rd. Barrington Research restated an "outperform" rating and issued a $11.50 price target on shares of Lionsgate Studios in a research report on Friday, February 6th. Finally, Wells Fargo & Company upped their price objective on shares of Lionsgate Studios from $9.00 to $12.00 and gave the company an "overweight" rating in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $10.05.

Lionsgate Studios Price Performance

NYSE LION opened at $9.55 on Thursday. The business has a 50 day simple moving average of $9.25 and a 200 day simple moving average of $8.08. Lionsgate Studios Corp. has a one year low of $5.55 and a one year high of $11.02. The stock has a market capitalization of $2.77 billion, a P/E ratio of -11.24 and a beta of -0.48.

Lionsgate Studios (NYSE:LION - Get Free Report) last issued its quarterly earnings results on Thursday, February 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The business had revenue of $724.30 million during the quarter, compared to analysts' expectations of $706.03 million. Equities analysts expect that Lionsgate Studios Corp. will post 0.08 earnings per share 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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