Renaissance Technologies LLC Buys New Holdings in Lionsgate Studios Corp. $LION

Renaissance Technologies LLC purchased a new position in shares of Lionsgate Studios Corp. (NYSE:LION) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 50,500 shares of the company’s stock, valued at approximately $484,000.

Other institutional investors have also recently bought and sold shares of the company. Millennium Management LLC raised its stake 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 period. Goldman Sachs Group Inc. increased its holdings in shares of Lionsgate Studios by 198.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 414,795 shares of the company’s stock worth $3,099,000 after acquiring an additional 275,839 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Lionsgate Studios during the 1st quarter worth approximately $825,000. Envestnet Asset Management Inc. bought a new stake in Lionsgate Studios in the 2nd quarter valued at $77,000. Finally, Creative Planning bought a new stake in Lionsgate Studios in the 2nd quarter valued at $117,000.

Lionsgate Studios Trading Down 0.2%

NYSE:LION opened at $11.97 on Tuesday. The stock has a market cap of $3.56 billion, a P/E ratio of -28.50 and a beta of 0.73. The stock has a 50 day simple moving average of $13.85 and a 200 day simple moving average of $11.85. Lionsgate Studios Corp. has a 1-year low of $5.88 and a 1-year high of $16.70.

Lionsgate Studios (NYSE:LION) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.14. The firm had revenue of $776.60 million during the quarter, compared to analyst estimates of $703.10 million. As a group, sell-side analysts forecast that Lionsgate Studios Corp. will post 0.16 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on LION shares. Seaport Research Partners reaffirmed a “buy” rating and set a $17.00 price target on shares of Lionsgate Studios in a report on Friday, August 7th. Benchmark upped their price objective on shares of Lionsgate Studios from $15.00 to $17.00 and gave the company a “buy” rating in a report on Thursday, June 11th. Morgan Stanley restated an “overweight” rating and set a $15.00 target price on shares of Lionsgate Studios in a research note on Thursday, August 6th. Robert W. Baird lifted their target price on shares of Lionsgate Studios from $18.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, June 17th. Finally, Citigroup lowered shares of Lionsgate Studios from a “buy” rating to a “neutral” rating and upped their price target for the company from $11.00 to $12.60 in a research note on Monday, April 20th. Six investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.57.

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.