Lionsgate Studios Corp. $LION Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut its stake in Lionsgate Studios Corp. (NYSE:LION) by 25.5% in the third quarter, Holdings Channel reports. The fund owned 341,600 shares of the company’s stock after selling 116,841 shares during the period. JPMorgan Chase & Co.’s holdings in Lionsgate Studios were worth $2,357,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of LION. 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 worth $14,877,000 after purchasing an additional 837,774 shares during the period. Goldman Sachs Group Inc. grew its holdings in shares of Lionsgate Studios by 198.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 414,795 shares of the company’s stock worth $3,099,000 after purchasing an additional 275,839 shares during the period. Jane Street Group LLC purchased a new position in shares of Lionsgate Studios during the 1st quarter worth $825,000. Envestnet Asset Management Inc. purchased a new position in shares of Lionsgate Studios during the 2nd quarter worth $77,000. Finally, Creative Planning purchased a new position in shares of Lionsgate Studios during the 2nd quarter worth $117,000.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LION. Morgan Stanley reiterated an “overweight” rating and set a $11.00 price target on shares of Lionsgate Studios in a report on Friday, February 6th. Zacks Research upgraded Lionsgate Studios from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Wall Street Zen cut Lionsgate Studios from a “hold” rating to a “sell” rating in a report on Saturday, February 14th. Benchmark increased their price target on Lionsgate Studios from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, February 3rd. Finally, Citigroup increased their price target on Lionsgate Studios from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Monday, March 23rd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Lionsgate Studios has an average rating of “Moderate Buy” and a consensus target price of $10.05.

Lionsgate Studios Price Performance

Shares of Lionsgate Studios stock opened at $9.74 on Tuesday. The business has a 50-day moving average of $9.25 and a 200 day moving average of $8.14. Lionsgate Studios Corp. has a 12 month low of $5.55 and a 12 month high of $11.02. The stock has a market capitalization of $2.83 billion, a price-to-earnings ratio of -11.46 and a beta of -0.48.

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

Lionsgate Studios Company 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.