Sequoia Financial Advisors LLC Buys New Holdings in Lionsgate Studios Corp. $LION

Sequoia Financial Advisors LLC purchased a new position in Lionsgate Studios Corp. (NYSE:LION) during the third quarter, Holdings Channel reports. The fund purchased 196,678 shares of the company’s stock, valued at approximately $1,357,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Millennium Management LLC boosted its stake in shares of Lionsgate Studios by 72.6% during the first 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 period. Goldman Sachs Group Inc. increased its stake in shares of Lionsgate Studios by 198.5% in the first quarter. Goldman Sachs Group Inc. now owns 414,795 shares of the company’s stock worth $3,099,000 after buying an additional 275,839 shares during the period. Jane Street Group LLC bought a new stake in Lionsgate Studios during the 1st quarter valued at $825,000. 111 Capital purchased a new stake in Lionsgate Studios during the 2nd quarter valued at $66,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in Lionsgate Studios during the 2nd quarter valued at $258,000.

Insider Buying and Selling

In related news, insider Michael Raymond Burns sold 21,748 shares of the stock in a transaction dated Tuesday, December 23rd. The shares were sold at an average price of $9.01, for a total transaction of $195,949.48. Following the sale, the insider directly owned 3,061,213 shares of the company’s stock, valued at approximately $27,581,529.13. This represents a 0.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 9.40% of the company’s stock.

Lionsgate Studios Stock Down 1.8%

LION stock opened at $9.30 on Friday. The business has a 50 day moving average of $8.27 and a 200 day moving average of $7.07. The firm has a market cap of $2.69 billion, a PE ratio of -13.88 and a beta of -0.48. Lionsgate Studios Corp. has a twelve month low of $5.55 and a twelve month high of $9.68.

Lionsgate Studios (NYSE:LION) last released its earnings results on Thursday, November 6th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.14). On average, research analysts expect that Lionsgate Studios Corp. will post 0.08 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Benchmark boosted their price objective on shares of Lionsgate Studios from $8.50 to $11.00 and gave the company a “buy” rating in a research report on Monday, November 24th. Zacks Research raised Lionsgate Studios from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Morgan Stanley restated an “overweight” rating and set a $10.00 price target on shares of Lionsgate Studios in a report on Thursday, December 18th. Wall Street Zen raised Lionsgate Studios from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Finally, Barrington Research reiterated an “outperform” rating and issued a $8.50 price objective on shares of Lionsgate Studios in a report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $9.14.

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.