The Manufacturers Life Insurance Company Acquires New Holdings in Lionsgate Studios Corp. $LION

The Manufacturers Life Insurance Company bought 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 Securities and Exchange Commission. The institutional investor bought 48,589 shares of the company’s stock, valued at approximately $744,000.

Several other hedge funds have also recently bought and sold shares of the stock. Algert Global LLC boosted its holdings in shares of Lionsgate Studios by 230.4% in the second quarter. Algert Global LLC now owns 79,120 shares of the company’s stock valued at $1,211,000 after buying an additional 55,170 shares during the period. Sanctuary Advisors LLC bought a new position in Lionsgate Studios during the 2nd quarter worth about $336,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Lionsgate Studios in the 2nd quarter valued at about $10,632,000. Quantbot Technologies LP bought a new stake in shares of Lionsgate Studios in the second quarter valued at about $532,000. Finally, K2 Principal Fund L.P. acquired a new position in shares of Lionsgate Studios during the second quarter worth about $536,000.

Analysts Set New Price Targets

LION has been the topic of several analyst reports. 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. Weiss Ratings reissued a “sell (d-)” rating on shares of Lionsgate Studios in a research note on Friday, July 17th. Zacks Research lowered shares of Lionsgate Studios from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 22nd. Barrington Research increased their price target on shares of Lionsgate Studios from $14.50 to $17.00 and gave the company an “outperform” rating in a research note on Tuesday, May 26th. Finally, Wall Street Zen downgraded shares of Lionsgate Studios from a “buy” rating to a “hold” rating in a research report on Sunday. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $15.57.

Lionsgate Studios Stock Up 0.7%

LION opened at $11.18 on Friday. The company has a 50-day simple moving average of $12.85 and a 200 day simple moving average of $12.06. Lionsgate Studios Corp. has a twelve month low of $5.88 and a twelve month high of $16.70. The stock has a market capitalization of $3.33 billion, a price-to-earnings ratio of -26.62 and a beta of 0.66.

Lionsgate Studios (NYSE:LION) last posted its quarterly earnings results on Thursday, August 6th. The company reported $0.06 EPS 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. Sell-side analysts anticipate that Lionsgate Studios Corp. will post 0.04 EPS for the current fiscal year.

About Lionsgate Studios

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.