Jericho Capital Asset Management L.P. Invests $51.12 Million in Lionsgate Studios Corp. $LION

Jericho Capital Asset Management L.P. acquired a new stake in shares of Lionsgate Studios Corp. (NYSE:LION) in the fourth quarter, HoldingsChannel reports. The fund acquired 5,599,000 shares of the company’s stock, valued at approximately $51,119,000. Lionsgate Studios accounts for about 0.6% of Jericho Capital Asset Management L.P.’s investment portfolio, making the stock its 25th largest holding.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Osaic Holdings Inc. raised its stake in shares of Lionsgate Studios by 4,852.0% during the 2nd quarter. Osaic Holdings Inc. now owns 4,952 shares of the company’s stock worth $29,000 after purchasing an additional 4,852 shares in the last quarter. GAMMA Investing LLC increased its holdings in Lionsgate Studios by 99.3% in the fourth quarter. GAMMA Investing LLC now owns 3,559 shares of the company’s stock worth $32,000 after buying an additional 1,773 shares during the last quarter. CIBC Private Wealth Group LLC acquired a new position in Lionsgate Studios in the third quarter worth approximately $38,000. Caitong International Asset Management Co. Ltd bought a new position in Lionsgate Studios during the fourth quarter valued at approximately $44,000. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Lionsgate Studios in the fourth quarter valued at approximately $55,000.

Key Lionsgate Studios News

Here are the key news stories impacting Lionsgate Studios this week:

• Positive Sentiment: Robert W. Baird raised its price target on Lionsgate Studios to $20 from $18 and kept an outperform rating, signaling continued analyst confidence in upside from current levels. Benzinga
• Positive Sentiment: Shares surged on takeover chatter after reports suggested Netflix was considering a bid, and the stock also hit a new 52-week high as investors rushed into the name. Benzinga
• Neutral Sentiment: The move also triggered unusually heavy call-option buying, showing strong speculative interest but not a fundamental change in the business outlook.
• Negative Sentiment: Netflix publicly denied acquisition interest, removing the main catalyst behind the recent rally and prompting a pullback in Lionsgate Studios shares. MSN

Analysts Set New Price Targets

LION has been the subject of several recent research reports. Wall Street Zen downgraded shares of Lionsgate Studios from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Citigroup lowered shares of Lionsgate Studios from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $11.00 to $12.60 in a research note on Monday, April 20th. Raymond James Financial reissued an “outperform” rating and set a $15.00 target price on shares of Lionsgate Studios in a research report on Friday, May 22nd. Weiss Ratings restated a “sell (d-)” rating on shares of Lionsgate Studios in a report on Tuesday, April 21st. Finally, Morgan Stanley boosted their price target on Lionsgate Studios from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Six investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Lionsgate Studios presently has an average rating of “Moderate Buy” and an average price target of $15.37.

Lionsgate Studios Price Performance

Shares of LION opened at $15.21 on Thursday. The company has a market capitalization of $4.42 billion, a PE ratio of -21.12 and a beta of 0.69. Lionsgate Studios Corp. has a one year low of $5.55 and a one year high of $16.70. The company’s fifty day moving average price is $12.76 and its 200 day moving average price is $10.31.

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.