Coastal Bridge Advisors LLC Takes Position in Lionsgate Studios Corp. $LION

Coastal Bridge Advisors LLC acquired a new position in shares of Lionsgate Studios Corp. (NYSE:LION) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 5,430,706 shares of the company’s stock, valued at approximately $83,144,000. Lionsgate Studios comprises approximately 5.1% of Coastal Bridge Advisors LLC’s investment portfolio, making the stock its 2nd biggest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Millennium Management LLC lifted its position 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 buying an additional 837,774 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Lionsgate Studios by 198.5% during the first quarter. Goldman Sachs Group Inc. now owns 414,795 shares of the company’s stock worth $3,099,000 after buying an additional 275,839 shares during the period. Jane Street Group LLC acquired a new stake in shares of Lionsgate Studios during the first quarter valued at about $825,000. Envestnet Asset Management Inc. acquired a new stake in shares of Lionsgate Studios during the second quarter valued at about $77,000. Finally, Creative Planning purchased a new stake in shares of Lionsgate Studios in the 2nd quarter valued at approximately $117,000.

Lionsgate Studios Price Performance

Shares of LION opened at $11.52 on Friday. The company has a market cap of $3.43 billion, a P/E ratio of -27.43 and a beta of 0.72. Lionsgate Studios Corp. has a fifty-two week low of $5.88 and a fifty-two week high of $16.70. The firm’s 50 day moving average price is $13.37 and its 200 day moving average price is $11.98.

Lionsgate Studios (NYSE:LION) last issued its quarterly earnings results on Thursday, August 6th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.14. The business had revenue of $776.60 million during the quarter, compared to analysts’ expectations of $703.10 million. Research analysts forecast that Lionsgate Studios Corp. will post 0.04 earnings per share for the current year.

Analysts Set New Price Targets

LION has been the topic of several recent analyst reports. Seaport Research Partners restated a “buy” rating and issued a $17.00 price objective on shares of Lionsgate Studios in a report on Friday, August 7th. B. Riley Financial dropped their target price on shares of Lionsgate Studios from $17.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, August 10th. Benchmark boosted their target price on Lionsgate Studios from $15.00 to $17.00 and gave the company a “buy” rating in a research report on Thursday, June 11th. Raymond James Financial restated an “outperform” rating and set a $15.00 price target on shares of Lionsgate Studios in a research note on Friday, May 22nd. Finally, Wall Street Zen lowered Lionsgate Studios from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Six investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Lionsgate Studios presently has an average rating of “Moderate Buy” and an average price target 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.