Alpine Global Management LLC Increases Stake in Lionsgate Studios Corp. $LION

Alpine Global Management LLC lifted its stake in shares of Lionsgate Studios Corp. (NYSE:LION) by 21.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 458,578 shares of the company’s stock after acquiring an additional 80,525 shares during the quarter. Alpine Global Management LLC owned 0.16% of Lionsgate Studios worth $3,164,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in LION. Wilmington Savings Fund Society FSB acquired a new stake in shares of Lionsgate Studios in the 3rd quarter valued at $168,000. Dark Forest Capital Management LP purchased a new stake in Lionsgate Studios in the third quarter valued at approximately $1,381,000. Qube Research & Technologies Ltd acquired a new stake in Lionsgate Studios during the 3rd quarter worth $412,000. Prelude Capital Management LLC boosted its stake in shares of Lionsgate Studios by 119.1% during the third quarter. Prelude Capital Management LLC now owns 121,641 shares of the company’s stock worth $839,000 after buying an additional 66,128 shares during the period. Finally, Mariner LLC lifted its position in Lionsgate Studios by 33.4% during the 3rd quarter. Mariner LLC now owns 75,223 shares of the company’s stock worth $519,000 after acquiring an additional 18,815 shares during the period.

Analysts Set New Price Targets

Several analysts have recently weighed in on LION shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lionsgate Studios in a report on Thursday, January 22nd. Benchmark raised their price target on Lionsgate Studios from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, February 3rd. Morgan Stanley restated an “overweight” rating and set a $11.00 price objective on shares of Lionsgate Studios in a research report on Friday, February 6th. Zacks Research upgraded shares of Lionsgate Studios from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Finally, Barrington Research restated an “outperform” rating and set a $11.50 price objective on shares of Lionsgate Studios in a report on Friday, February 6th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $9.86.

Lionsgate Studios Stock Performance

LION stock opened at $9.68 on Wednesday. The firm has a market cap of $2.81 billion, a P/E ratio of -11.39 and a beta of -0.39. The stock has a 50-day simple moving average of $9.18 and a 200-day simple moving average of $7.87. Lionsgate Studios Corp. has a 1 year low of $5.55 and a 1 year high of $11.02.

Lionsgate Studios (NYSE:LION) last announced its earnings results on Thursday, February 5th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The firm had revenue of $724.30 million for the quarter, compared to analyst estimates of $706.03 million. On average, equities research analysts predict that Lionsgate Studios Corp. will post 0.08 EPS for the current year.

Insider Activity at Lionsgate Studios

In other news, insider Michael Raymond Burns sold 21,748 shares of the stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $9.01, for a total transaction of $195,949.48. Following the completion of the transaction, the insider directly owned 3,061,213 shares in the company, valued at approximately $27,581,529.13. This represents a 0.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 32.10% of the company’s stock.

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.