Wellington Management Group LLP Invests $113.68 Million in Lionsgate Studios Corp. $LION

Key Points

• Wellington Management bought 7.43 million Lionsgate Studios shares in the second quarter, valued at approximately $113.7 million and representing a 2.5% stake. Several other institutional investors also initiated positions.
• Lionsgate reported quarterly EPS of $0.06, beating the consensus estimate of a $0.08 loss, while revenue of $776.6 million exceeded expectations of $703.1 million.
• The stock opened at $11.03, down 2.6%, while analysts maintained a generally positive outlook: LION has a “Moderate Buy” consensus rating and an average price target of $15.57.

Wellington Management Group LLP bought a new stake in shares of Lionsgate Studios Corp. (NYSE:LION - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 7,425,436 shares of the company's stock, valued at approximately $113,683,000. Wellington Management Group LLP owned 2.50% of Lionsgate Studios as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ratan Capital Management LP purchased a new position in Lionsgate Studios during the second quarter worth approximately $11,266,000. Coastal Bridge Advisors LLC acquired a new stake in Lionsgate Studios in the second quarter valued at approximately $83,144,000. Jefferies Financial Group Inc. acquired a new stake in Lionsgate Studios in the 2nd quarter valued at $88,896,000. Capstone Investment Advisors LLC purchased a new stake in Lionsgate Studios in the 2nd quarter worth $6,231,000. Finally, Corient Private Wealth LP acquired a new position in Lionsgate Studios during the second quarter worth $317,000.

Lionsgate Studios Stock Down 2.6%

Lionsgate Studios stock opened at $11.03 on Wednesday. The company has a fifty day simple moving average of $13.13 and a 200-day simple moving average of $12.02. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of -26.26 and a beta of 0.66. Lionsgate Studios Corp. has a 52-week low of $5.88 and a 52-week high of $16.70.

Lionsgate Studios (NYSE:LION - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $0.06 EPS for the quarter, beating analysts' consensus estimates of ($0.08) by $0.14. The business had revenue of $776.60 million during the quarter, compared to analyst estimates of $703.10 million. On average, research analysts anticipate that Lionsgate Studios Corp. will post 0.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

LION has been the topic of several research analyst reports. Morgan Stanley reissued an "overweight" rating and set a $15.00 target price on shares of Lionsgate Studios in a research note on Thursday, August 6th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Lionsgate Studios in a research note on Friday, July 17th. Zacks Research cut Lionsgate Studios from a "strong-buy" rating to a "hold" rating in a report on Wednesday, July 22nd. Robert W. Baird boosted their price objective on Lionsgate Studios from $18.00 to $20.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 17th. Finally, Barrington Research increased their target price on Lionsgate Studios from $14.50 to $17.00 and gave the company an "outperform" rating in a report on Tuesday, May 26th. Six equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $15.57.

Lionsgate Studios 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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