Potomac Capital Management Inc. Makes New $2.05 Million Investment in Lionsgate Studios Corp. $LION

Potomac Capital Management Inc. bought a new position in Lionsgate Studios Corp. (NYSE:LION) in the 4th quarter, Holdings Channel reports. The firm bought 225,000 shares of the company’s stock, valued at approximately $2,054,000. Lionsgate Studios makes up 1.7% of Potomac Capital Management Inc.’s investment portfolio, making the stock its 17th biggest holding.

Several other hedge funds have also made changes to their positions in the company. Anson Funds Management LP lifted its holdings in shares of Lionsgate Studios by 5.7% in the 3rd quarter. Anson Funds Management LP now owns 7,013,596 shares of the company’s stock worth $48,394,000 after buying an additional 379,388 shares during the period. Geode Capital Management LLC lifted its stake in shares of Lionsgate Studios by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 4,920,277 shares of the company’s stock worth $44,930,000 after purchasing an additional 331,025 shares during the last quarter. Millennium Management LLC lifted its stake 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 worth $14,877,000 after purchasing an additional 837,774 shares during the last quarter. Invesco Ltd. boosted its position in Lionsgate Studios by 164.4% during the third quarter. Invesco Ltd. now owns 1,811,579 shares of the company’s stock valued at $12,500,000 after purchasing an additional 1,126,478 shares in the last quarter. Finally, Royce & Associates LP boosted its position in Lionsgate Studios by 10.4% during the fourth quarter. Royce & Associates LP now owns 1,541,162 shares of the company’s stock valued at $14,071,000 after purchasing an additional 145,700 shares in the last quarter.

Lionsgate Studios Price Performance

Shares of LION stock opened at $13.56 on Wednesday. The company has a market cap of $3.94 billion, a price-to-earnings ratio of -18.83 and a beta of 0.69. The stock’s fifty day moving average price is $12.15 and its 200 day moving average price is $9.99. Lionsgate Studios Corp. has a 1-year low of $5.55 and a 1-year high of $15.01.

Analysts Set New Price Targets

A number of brokerages have commented on LION. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lionsgate Studios in a report on Tuesday, April 21st. Wall Street Zen upgraded shares of Lionsgate Studios from a “hold” rating to a “buy” rating in a report on Sunday, May 31st. Barrington Research raised their price target on shares of Lionsgate Studios from $14.50 to $17.00 and gave the company an “outperform” rating in a report on Tuesday, May 26th. Raymond James Financial restated an “outperform” rating and issued a $15.00 price target on shares of Lionsgate Studios in a report on Friday, May 22nd. Finally, Seaport Research Partners restated a “buy” rating and issued a $16.00 price target on shares of Lionsgate Studios in a report on Friday, May 22nd. Six research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Lionsgate Studios currently has a consensus rating of “Moderate Buy” and an average price target of $14.51.

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.