Y Intercept Hong Kong Ltd Sells 358,666 Shares of Lionsgate Studios Corp. $LION

Y Intercept Hong Kong Ltd cut its holdings in shares of Lionsgate Studios Corp. (NYSE:LION) by 66.4% during the 1st quarter, HoldingsChannel reports. The fund owned 181,836 shares of the company’s stock after selling 358,666 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Lionsgate Studios were worth $1,744,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Anson Funds Management LP lifted its stake in Lionsgate Studios by 36.3% in the fourth quarter. Anson Funds Management LP now owns 9,556,948 shares of the company’s stock worth $87,255,000 after purchasing an additional 2,543,352 shares during the last quarter. Jericho Capital Asset Management L.P. purchased a new stake in Lionsgate Studios during the fourth quarter valued at about $51,119,000. Broad Bay Capital Management LP grew its stake in shares of Lionsgate Studios by 38.7% during the fourth quarter. Broad Bay Capital Management LP now owns 5,168,008 shares of the company’s stock valued at $47,184,000 after buying an additional 1,441,700 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Lionsgate Studios by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 4,920,277 shares of the company’s stock valued at $44,930,000 after buying an additional 331,025 shares during the last quarter. Finally, State Street Corp increased its holdings in shares of Lionsgate Studios by 3.7% in the fourth quarter. State Street Corp now owns 4,706,141 shares of the company’s stock worth $42,967,000 after buying an additional 168,307 shares during the period.

Analyst Ratings Changes

Several brokerages have recently issued reports on LION. Citigroup cut shares of Lionsgate Studios from a “buy” rating to a “neutral” rating and raised their target price for the stock from $11.00 to $12.60 in a report on Monday, April 20th. Robert W. Baird increased their price target on shares of Lionsgate Studios from $18.00 to $20.00 and gave the company an “outperform” rating in a research report on Wednesday, June 17th. B. Riley Financial initiated coverage on shares of Lionsgate Studios in a report on Wednesday, July 1st. They issued a “neutral” rating and a $17.00 price target on the stock. Morgan Stanley upped their price objective on shares of Lionsgate Studios from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Finally, Benchmark increased their target price on shares of Lionsgate Studios from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $15.57.

Lionsgate Studios Stock Down 1.3%

Shares of LION opened at $13.41 on Friday. Lionsgate Studios Corp. has a 52 week low of $5.64 and a 52 week high of $16.70. The stock has a market cap of $3.90 billion, a price-to-earnings ratio of -18.62 and a beta of 0.64. The business has a 50-day simple moving average of $13.93 and a two-hundred day simple moving average of $11.11.

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.