Connor Clark & Lunn Investment Management Ltd. Invests $4.38 Million in Lionsgate Studios Corp. $LION

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Lionsgate Studios Corp. (NYSE:LION) in the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 753,205 shares of the company’s stock, valued at approximately $4,376,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of LION. Anson Funds Management LP raised its stake in Lionsgate Studios by 11.9% during the first quarter. Anson Funds Management LP now owns 3,538,500 shares of the company’s stock worth $26,433,000 after acquiring an additional 375,409 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Lionsgate Studios by 72.6% during the 1st quarter. Millennium Management LLC now owns 1,991,515 shares of the company’s stock valued at $14,877,000 after purchasing an additional 837,774 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in Lionsgate Studios during the 2nd quarter worth approximately $7,157,000. Kornitzer Capital Management Inc. KS bought a new position in Lionsgate Studios in the 2nd quarter valued at approximately $6,787,000. Finally, Peregrine Capital Management LLC bought a new position in Lionsgate Studios in the 2nd quarter valued at approximately $3,547,000.

Lionsgate Studios Price Performance

Shares of LION stock opened at $6.67 on Friday. The stock has a market capitalization of $1.93 billion, a PE ratio of -9.96 and a beta of -0.12. The business’s 50 day simple moving average is $6.60 and its 200 day simple moving average is $6.58. Lionsgate Studios Corp. has a one year low of $5.55 and a one year high of $8.50.

Lionsgate Studios (NYSE:LION) last issued its quarterly earnings results on Thursday, November 6th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.14). As a group, research analysts expect that Lionsgate Studios Corp. will post 0.08 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on LION shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lionsgate Studios in a report on Wednesday, October 8th. Baird R W upgraded Lionsgate Studios to a “strong-buy” rating in a research report on Friday, September 5th. Zacks Research upgraded Lionsgate Studios from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 7th. Barrington Research reissued an “outperform” rating and set a $8.50 price target on shares of Lionsgate Studios in a research note on Friday, November 7th. Finally, Wells Fargo & Company assumed coverage on Lionsgate Studios in a report on Tuesday, August 5th. They set an “overweight” rating and a $9.00 price target on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Lionsgate Studios currently has an average rating of “Moderate Buy” and a consensus price target of $8.73.

Lionsgate Studios Profile

Lionsgate Studios Corp. engages in the provision of motion picture and studio operations that bring a varied portfolio of entertainment to consumers. The company is headquartered in Santa Monica, CA.