Polar Asset Management Partners Inc. Sells 221,144 Shares of Lionsgate Studios Corp. $LION

Key Points

• Polar Asset Management Partners Inc. reduced its stake in Lionsgate Studios Corp. by 52.9%, now owning approximately 196,852 shares valued at $1.47 million after selling 221,144 shares.
• The stock's performance was mixed, with Lionsgate reporting a quarterly earnings per share (EPS) of ($0.34), missing estimates, and currently having a market capitalization of $1.79 billion.
• Analysts' ratings for Lionsgate include two Strong Buy, seven Buy, and four Hold ratings, with a consensus price target set at $8.75.

Polar Asset Management Partners Inc. cut its position in shares of Lionsgate Studios Corp. (NYSE:LION - Free Report) by 52.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 196,852 shares of the company's stock after selling 221,144 shares during the quarter. Polar Asset Management Partners Inc. owned approximately 0.07% of Lionsgate Studios worth $1,470,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Millennium Management LLC boosted its stake 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 acquiring an additional 837,774 shares during the last quarter. Anson Funds Management LP boosted its stake in Lionsgate Studios by 11.9% in the first 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 during the last quarter. Alpine Global Management LLC boosted its stake 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 acquiring an additional 188,700 shares during the last quarter. OMERS ADMINISTRATION Corp boosted its stake in 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 acquiring an additional 19,740 shares during the last quarter. Finally, EntryPoint Capital LLC boosted its stake in Lionsgate Studios by 60.9% in the first quarter. EntryPoint Capital LLC now owns 36,754 shares of the company's stock valued at $275,000 after acquiring an additional 13,910 shares during the last quarter.

Lionsgate Studios Stock Performance

Lionsgate Studios stock traded down $0.32 during midday trading on Friday, reaching $7.34. 1,903,262 shares of the stock were exchanged, compared to its average volume of 2,487,511. The company's fifty day moving average is $6.30 and its 200-day moving average is $7.27. The firm has a market cap of $2.13 billion, a PE ratio of -10.96 and a beta of -0.21. Lionsgate Studios Corp. has a 52 week low of $5.55 and a 52 week high of $8.50.

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

Wall Street Analysts Forecast Growth

LION has been the topic of a number of research analyst reports. Baird R W upgraded shares of Lionsgate Studios to a "strong-buy" rating in a research note on Friday, September 5th. Wall Street Zen lowered shares of Lionsgate Studios from a "hold" rating to a "sell" rating in a research report on Sunday, August 10th. Rosenblatt Securities lowered their price target on shares of Lionsgate Studios from $13.00 to $9.00 and set a "buy" rating on the stock in a research report on Wednesday, June 4th. Morgan Stanley lowered their price target on shares of Lionsgate Studios from $8.50 to $8.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 27th. Finally, Raymond James Financial initiated coverage on shares of Lionsgate Studios in a research report on Tuesday, May 20th. They issued an "outperform" rating and a $10.00 price target on the stock. Two equities research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, Lionsgate Studios presently has a consensus rating of "Moderate Buy" and a consensus price target of $8.75.

Insiders Place Their Bets

In other Lionsgate Studios news, major shareholder Liberty 77 Capital L.P. purchased 72,089 shares of the stock in a transaction on Wednesday, July 9th. The stock was acquired at an average cost of $5.59 per share, with a total value of $402,977.51. Following the completion of the purchase, the insider directly owned 37,548,125 shares of the company's stock, valued at approximately $209,894,018.75. This trade represents a 0.19% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have acquired 1,559,489 shares of company stock valued at $8,950,186 over the last ninety days. Insiders own 9.40% of the company's stock.

About Lionsgate Studios

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.