Ratan Capital Management LP Buys Shares of 735,870 Lionsgate Studios Corp. $LION

Ratan Capital Management LP purchased a new position in shares of Lionsgate Studios Corp. (NYSE:LION) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 735,870 shares of the company’s stock, valued at approximately $11,266,000. Lionsgate Studios comprises about 3.6% of Ratan Capital Management LP’s portfolio, making the stock its 12th biggest position.

Several other hedge funds also recently made changes to their positions in the business. Osaic Holdings Inc. raised its holdings in shares of Lionsgate Studios by 4,852.0% in the second quarter. Osaic Holdings Inc. now owns 4,952 shares of the company’s stock valued at $29,000 after purchasing an additional 4,852 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new position in Lionsgate Studios during the third quarter worth $38,000. Caitong International Asset Management Co. Ltd bought a new position in Lionsgate Studios in the fourth quarter valued at $44,000. Farther Finance Advisors LLC grew its position in Lionsgate Studios by 4,457.3% in the fourth quarter. Farther Finance Advisors LLC now owns 5,970 shares of the company’s stock valued at $55,000 after purchasing an additional 5,839 shares in the last quarter. Finally, Walleye Trading LLC bought a new position in Lionsgate Studios in the second quarter valued at $60,000.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on LION shares. Robert W. Baird boosted their price target on shares of Lionsgate Studios from $18.00 to $20.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 17th. Raymond James Financial restated an “outperform” rating and issued a $15.00 price objective on shares of Lionsgate Studios in a report on Friday, May 22nd. Zacks Research downgraded Lionsgate Studios from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. B. Riley Financial lowered their price target on Lionsgate Studios from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, August 10th. Finally, Seaport Research Partners reiterated a “buy” rating and set a $17.00 price objective on shares of Lionsgate Studios in a research note on Friday, August 7th. Six equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $15.57.

Lionsgate Studios Stock Performance

Shares of NYSE:LION opened at $11.44 on Friday. Lionsgate Studios Corp. has a 52-week low of $5.88 and a 52-week high of $16.70. The company has a 50-day simple moving average of $13.29 and a 200 day simple moving average of $11.98. The company has a market capitalization of $3.40 billion, a P/E ratio of -27.24 and a beta of 0.72.

Lionsgate Studios (NYSE:LION) last posted its earnings results on Thursday, August 6th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.14. The business had revenue of $776.60 million for the quarter, compared to analyst estimates of $703.10 million. As a group, equities analysts forecast that Lionsgate Studios Corp. will post 0.04 earnings per share for the current 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.