Insider Buying: Lionsgate Studios Corp. (NYSE:LION) Major Shareholder Purchases 500,000 Shares of Stock

Lionsgate Studios Corp. (NYSE:LION - Get Free Report) major shareholder Liberty 77 Capital L.P. acquired 500,000 shares of the firm's stock in a transaction dated Monday, July 7th. The stock was bought at an average price of $5.63 per share, for a total transaction of $2,815,000.00. Following the acquisition, the insider owned 37,476,036 shares of the company's stock, valued at approximately $210,990,082.68. This trade represents a 1.35% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Major shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases with the SEC.

Liberty 77 Capital L.P. also recently made the following trade(s):

• On Wednesday, July 9th, Liberty 77 Capital L.P. acquired 72,089 shares of Lionsgate Studios stock. The shares were bought at an average cost of $5.59 per share, with a total value of $402,977.51.
• On Thursday, June 26th, Liberty 77 Capital L.P. bought 79,766 shares of Lionsgate Studios stock. The stock was purchased at an average price of $5.74 per share, for a total transaction of $457,856.84.
• On Friday, June 20th, Liberty 77 Capital L.P. purchased 420,234 shares of Lionsgate Studios stock. The shares were purchased at an average price of $5.65 per share, with a total value of $2,374,322.10.
• On Tuesday, June 17th, Liberty 77 Capital L.P. purchased 487,400 shares of Lionsgate Studios stock. The shares were purchased at an average cost of $5.95 per share, with a total value of $2,900,030.00.

Lionsgate Studios Stock Up 8.6%

Shares of NYSE LION traded up $0.50 during trading on Friday, reaching $6.34. 4,696,971 shares of the company traded hands, compared to its average volume of 1,959,594. The firm has a 50 day simple moving average of $6.56 and a 200-day simple moving average of $7.97. Lionsgate Studios Corp. has a 52-week low of $5.55 and a 52-week high of $8.50. The stock has a market capitalization of $1.83 billion, a PE ratio of -14.74 and a beta of -0.27.

Lionsgate Studios (NYSE:LION - Get Free Report) last issued its earnings results on Thursday, May 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.33). The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.19 billion. As a group, research analysts predict that Lionsgate Studios Corp. will post 0.08 EPS for the current year.

Hedge Funds Weigh In On Lionsgate Studios

A number of institutional investors and hedge funds have recently modified their holdings of LION. Investors Research Corp bought a new position in Lionsgate Studios in the second quarter valued at about $47,000. Trexquant Investment LP bought a new position in shares of Lionsgate Studios in the 1st quarter worth approximately $81,000. EntryPoint Capital LLC boosted its holdings in shares of Lionsgate Studios by 60.9% in the first quarter. EntryPoint Capital LLC now owns 36,754 shares of the company's stock worth $275,000 after buying an additional 13,910 shares during the last quarter. OMERS ADMINISTRATION Corp grew its position in Lionsgate Studios by 32.8% during 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 during the period. Finally, Nexpoint Asset Management L.P. increased its holdings in Lionsgate Studios by 11.8% during the first quarter. Nexpoint Asset Management L.P. now owns 88,370 shares of the company's stock valued at $660,000 after buying an additional 9,300 shares during the last quarter.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LION. JPMorgan Chase & Co. raised shares of Lionsgate Studios from an "underweight" rating to a "neutral" rating and upped their price objective for the company from $8.00 to $9.00 in a research note on Monday, March 31st. Rosenblatt Securities lowered their price target on Lionsgate Studios from $13.00 to $9.00 and set a "buy" rating for the company in a research report on Wednesday, June 4th. TD Cowen began coverage on Lionsgate Studios in a research report on Tuesday, June 3rd. They issued a "hold" rating and a $8.00 price objective on the stock. Raymond James Financial started coverage on Lionsgate Studios in a research note on Tuesday, May 20th. They set an "outperform" rating and a $10.00 target price on the stock. Finally, Loop Capital initiated coverage on shares of Lionsgate Studios in a report on Wednesday, June 4th. They issued a "hold" rating and a $8.00 price target on the stock. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $8.86.

Lionsgate Studios Company 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.