VIRGINIA RETIREMENT SYSTEMS ET Al Buys 110,300 Shares of Lionsgate Studios Corp. $LION

Key Points

• Virginia Retirement Systems increased its Lionsgate Studios stake by 823.1% in the third quarter, buying 110,300 shares and ending the period with 123,700 shares worth about $1.385 million.
• Lionsgate reported quarterly EPS of $0.06, beating the $0.08-per-share loss analysts expected, and revenue of $776.6 million versus estimates of $703.1 million.
• Analysts’ consensus rating is “Moderate Buy”, with an average price target of $15.16; individual recommendations range from a $9 underweight target to an $18 outperform target.

VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in shares of Lionsgate Studios Corp. (NYSE:LION - Free Report) by 823.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,700 shares of the company's stock after purchasing an additional 110,300 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al's holdings in Lionsgate Studios were worth $1,385,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of LION. BlackRock Inc. bought a new position in Lionsgate Studios in the 2nd quarter worth approximately $251,521,000. Wellington Management Group LLP acquired a new position in Lionsgate Studios during the 2nd quarter worth $113,683,000. Jefferies Financial Group Inc. acquired a new position in Lionsgate Studios during the 2nd quarter worth $88,896,000. Coastal Bridge Advisors LLC acquired a new position in Lionsgate Studios during the 2nd quarter worth $83,144,000. Finally, Cooper Creek Partners Management LLC bought a new position in Lionsgate Studios in the 1st quarter valued at $43,715,000.

Lionsgate Studios Stock Performance

Shares of NYSE LION opened at $12.71 on Thursday. The company's 50 day simple moving average is $11.47 and its 200 day simple moving average is $11.65. Lionsgate Studios Corp. has a fifty-two week low of $6.43 and a fifty-two week high of $16.70.

Lionsgate Studios (NYSE:LION - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $0.06 EPS for the quarter, topping analysts' consensus estimates of ($0.08) by $0.14. The business had revenue of $776.60 million for the quarter, compared to analyst estimates of $703.10 million. On average, research analysts anticipate that Lionsgate Studios Corp. will post 0.03 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on LION shares. JPMorgan Chase & Co. began coverage on Lionsgate Studios in a research note on Friday, September 25th. They issued an "underweight" rating and a $9.00 target price for the company. Citizens Jmp started coverage on Lionsgate Studios in a research note on Monday, September 14th. They set a "market outperform" rating and a $18.00 price target on the stock. B. Riley Financial decreased their price target on Lionsgate Studios from $17.00 to $16.00 and set a "neutral" rating on the stock in a report on Monday, August 10th. Wall Street Zen cut Lionsgate Studios from a "buy" rating to a "hold" rating in a report on Sunday. Finally, Zacks Research lowered Lionsgate Studios from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 22nd. Eight analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.16.

Lionsgate Studios Company Profile

Lionsgate Studios NYSE: LION is a global entertainment company focused on the development, production and distribution of motion pictures and television programming. Its operations include theatrical film releases, home entertainment, television licensing and distribution, and the sale of content to streaming platforms and other media outlets.

The company's film business includes established franchises such as The Hunger Games, John Wick, Twilight, Saw and Now You See Me, along with original feature films.

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