Bank of New York Mellon Corp Takes $7.16 Million Position in Lionsgate Studios Corp. $LION

Bank of New York Mellon Corp purchased a new stake in shares of Lionsgate Studios Corp. (NYSE:LION) during the second quarter, Holdings Channel.com reports. The fund purchased 1,231,850 shares of the company’s stock, valued at approximately $7,157,000.

Other institutional investors have also added to or reduced their stakes in the company. Kornitzer Capital Management Inc. KS bought a new position in shares of Lionsgate Studios during the 2nd quarter worth approximately $6,787,000. Millennium Management LLC increased its position in shares of Lionsgate Studios by 72.6% during 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. Peregrine Capital Management LLC bought a new stake in Lionsgate Studios during the second quarter worth $3,547,000. Anson Funds Management LP lifted its holdings in Lionsgate Studios by 11.9% during the first quarter. Anson Funds Management LP now owns 3,538,500 shares of the company’s stock worth $26,433,000 after acquiring an additional 375,409 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in Lionsgate Studios by 198.5% in the first quarter. Goldman Sachs Group Inc. now owns 414,795 shares of the company’s stock worth $3,099,000 after purchasing an additional 275,839 shares during the last quarter.

Analysts Set New Price Targets

LION has been the topic of a number of recent analyst reports. Wells Fargo & Company assumed coverage on Lionsgate Studios in a research note on Tuesday, August 5th. They set an “overweight” rating and a $9.00 target price on the stock. Wolfe Research assumed coverage on shares of Lionsgate Studios in a research report on Tuesday, July 29th. They issued a “peer perform” rating on the stock. Baird R W upgraded shares of Lionsgate Studios to a “strong-buy” rating in a research note on Friday, September 5th. Zacks Research lowered shares of Lionsgate Studios from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Finally, Robert W. Baird started coverage on shares of Lionsgate Studios in a report on Friday, September 5th. They issued an “outperform” rating and a $8.00 price target on the stock. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $8.73.

Lionsgate Studios Trading Up 4.7%

Shares of LION stock opened at $7.13 on Friday. The firm’s 50 day moving average is $6.60 and its 200 day moving average is $6.51. The stock has a market capitalization of $2.07 billion, a P/E ratio of -10.64 and a beta of -0.12. Lionsgate Studios Corp. has a 12 month low of $5.55 and a 12 month high of $8.50.

Lionsgate Studios (NYSE:LION) last issued its earnings results on Thursday, November 6th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.14). On average, equities analysts predict that Lionsgate Studios Corp. will post 0.08 EPS for the current year.

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.