Connor Clark & Lunn Investment Management Ltd. Invests $10.63 Million in Lionsgate Studios Corp. $LION

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Lionsgate Studios Corp. (NYSE:LION) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 694,480 shares of the company’s stock, valued at approximately $10,632,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new stake in Lionsgate Studios during the 4th quarter worth about $44,000. Osaic Holdings Inc. grew its holdings in Lionsgate Studios by 4,852.0% during the 2nd quarter. Osaic Holdings Inc. now owns 4,952 shares of the company’s stock valued at $29,000 after buying an additional 4,852 shares in the last quarter. CIBC Private Wealth Group LLC purchased a new position in Lionsgate Studios during the 3rd quarter valued at about $38,000. Farther Finance Advisors LLC increased its position in shares of Lionsgate Studios by 4,457.3% during the fourth quarter. Farther Finance Advisors LLC now owns 5,970 shares of the company’s stock valued at $55,000 after buying an additional 5,839 shares during the period. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Lionsgate Studios during the fourth quarter valued at about $70,000.

Analyst Upgrades and Downgrades

LION has been the subject of a number of analyst reports. Zacks Research lowered shares of Lionsgate Studios from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Seaport Research Partners reaffirmed a “buy” rating and set a $17.00 target price on shares of Lionsgate Studios in a report on Friday, August 7th. Barrington Research increased their target price on shares of Lionsgate Studios from $14.50 to $17.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 26th. B. Riley Financial lowered their target price on shares of Lionsgate Studios from $17.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, August 10th. Finally, Robert W. Baird raised their price target on shares of Lionsgate Studios from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, June 17th. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $15.57.

Lionsgate Studios Stock Down 2.0%

Shares of NYSE LION opened at $11.54 on Thursday. The stock’s 50-day simple moving average is $13.45 and its two-hundred day simple moving average is $11.96. Lionsgate Studios Corp. has a twelve month low of $5.88 and a twelve month high of $16.70. The firm has a market capitalization of $3.43 billion, a P/E ratio of -27.48 and a beta of 0.72.

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

Lionsgate Studios Company 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.