Alpine Global Management LLC Increases Stock Holdings in Lionsgate Studios Corp. $LION

Key Points

• Alpine Global Management LLC has significantly increased its holdings in Lionsgate Studios Corp. by 570.9%, owning 221,753 shares valued at approximately $1.66 million after buying an additional 188,700 shares in the first quarter.
• Insider transactions revealed that Liberty 77 Capital L.P. bought 72,089 shares for about $403,000, increasing their total ownership to 37.5 million shares worth approximately $210 million.
• Lionsgate Studios' stock is currently trading at $6.41, with analysts rating it as a "Moderate Buy" and setting an average price target of $8.83.

Alpine Global Management LLC increased its holdings in shares of Lionsgate Studios Corp. (NYSE:LION - Free Report) by 570.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 221,753 shares of the company's stock after acquiring an additional 188,700 shares during the period. Alpine Global Management LLC owned approximately 0.08% of Lionsgate Studios worth $1,656,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in LION. Trexquant Investment LP bought a new position in shares of Lionsgate Studios during the 1st quarter valued at $81,000. EntryPoint Capital LLC grew its holdings in shares of Lionsgate Studios by 60.9% during the first quarter. EntryPoint Capital LLC now owns 36,754 shares of the company's stock valued at $275,000 after buying an additional 13,910 shares during the last quarter. OMERS ADMINISTRATION Corp increased its position in shares of Lionsgate Studios by 32.8% in the first quarter. OMERS ADMINISTRATION Corp now owns 80,000 shares of the company's stock valued at $598,000 after buying an additional 19,740 shares in the last quarter. Finally, Anson Funds Management LP grew its stake in Lionsgate Studios by 11.9% during the 1st quarter. Anson Funds Management LP now owns 3,538,500 shares of the company's stock valued at $26,433,000 after acquiring an additional 375,409 shares in the last quarter.

Lionsgate Studios Trading Up 1.5%

Shares of LION traded up $0.09 during midday trading on Wednesday, reaching $6.29. The stock had a trading volume of 4,357,832 shares, compared to its average volume of 2,018,229. The company has a market capitalization of $1.82 billion, a price-to-earnings ratio of -9.39 and a beta of -0.21. Lionsgate Studios Corp. has a 12-month low of $5.55 and a 12-month high of $8.50. The company's 50-day moving average is $6.20 and its 200 day moving average is $7.41.

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

Analyst Ratings Changes

Several brokerages recently commented on LION. TD Cowen started coverage on shares of Lionsgate Studios in a research note on Tuesday, June 3rd. They set a "hold" rating and a $8.00 price target on the stock. Raymond James Financial assumed coverage on shares of Lionsgate Studios in a report on Tuesday, May 20th. They set an "outperform" rating and a $10.00 target price on the stock. Rosenblatt Securities reduced their price objective on shares of Lionsgate Studios from $13.00 to $9.00 and set a "buy" rating for the company in a research report on Wednesday, June 4th. Wells Fargo & Company initiated coverage on shares of Lionsgate Studios in a research report on Tuesday, August 5th. They issued an "overweight" rating and a $9.00 price target for the company. Finally, Benchmark initiated coverage on Lionsgate Studios in a report on Monday, July 28th. They set a "buy" rating and a $8.50 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, Lionsgate Studios presently has a consensus rating of "Moderate Buy" and an average price target of $8.83.

Insider Buying and Selling

In other Lionsgate Studios news, major shareholder Liberty 77 Capital L.P. purchased 72,089 shares of the firm's stock in a transaction on Wednesday, July 9th. The shares were acquired at an average cost of $5.59 per share, with a total value of $402,977.51. Following the completion of the acquisition, the insider directly owned 37,548,125 shares in the company, valued at $209,894,018.75. The trade was a 0.19% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders bought 1,559,489 shares of company stock worth $8,950,186 over the last quarter.

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.