Trade Report: The Lions Gate Entertainment Corp. (LGF) Position Lowered by Sit Investment Associates Inc.

The Lions Gate Entertainment Corp. (LGF) Position Lowered by Sit Investment Associates Inc.

Sit Investment Associates Inc. lowered its stake in Lions Gate Entertainment Corp. (NYSE:LGF) by 63.9% during the second quarter, Holdings Channel reports. The fund owned 12,675 shares of the company’s stock after selling 22,400 shares during the period. Sit Investment Associates Inc.’s holdings in Lions Gate Entertainment Corp. were worth $256,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the company. Fairpointe Capital LLC acquired a new stake in shares of Lions Gate Entertainment Corp. during the first quarter worth approximately $96,088,000. Eagle Asset Management Inc. increased its stake in shares of Lions Gate Entertainment Corp. by 14.9% in the second quarter. Eagle Asset Management Inc. now owns 680,625 shares of the company’s stock worth $13,769,000 after buying an additional 88,396 shares in the last quarter. Teachers Advisors Inc. increased its stake in shares of Lions Gate Entertainment Corp. by 13.4% in the first quarter. Teachers Advisors Inc. now owns 596,815 shares of the company’s stock worth $13,040,000 after buying an additional 70,742 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of Lions Gate Entertainment Corp. by 76,398.3% in the first quarter. Canada Pension Plan Investment Board now owns 305,993 shares of the company’s stock worth $6,686,000 after buying an additional 305,593 shares in the last quarter. Finally, BlackRock Group LTD increased its stake in shares of Lions Gate Entertainment Corp. by 274.7% in the first quarter. BlackRock Group LTD now owns 199,790 shares of the company’s stock worth $4,365,000 after buying an additional 146,472 shares in the last quarter. 95.97% of the stock is owned by institutional investors.

Shares of Lions Gate Entertainment Corp. (NYSE:LGF) traded up 1.02% during mid-day trading on Friday, reaching $18.88. The company had a trading volume of 2,519,527 shares. The company has a market capitalization of $2.79 billion, a PE ratio of 265.92 and a beta of 1.30. The company’s 50-day moving average price is $20.55 and its 200-day moving average price is $20.73. Lions Gate Entertainment Corp. has a 52-week low of $16.21 and a 52-week high of $41.41.

Lions Gate Entertainment Corp. (NYSE:LGF) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.17) by $0.36. Lions Gate Entertainment Corp. had a net margin of 0.43% and a return on equity of 5.81%. The business had revenue of $553.60 million for the quarter, compared to the consensus estimate of $494.34 million. During the same period in the prior year, the business posted $0.31 earnings per share. Lions Gate Entertainment Corp.’s revenue for the quarter was up 35.4% compared to the same quarter last year. On average, analysts forecast that Lions Gate Entertainment Corp. will post $0.40 earnings per share for the current fiscal year.

A number of equities research analysts have recently commented on LGF shares. S&P Equity Research reaffirmed a “buy” rating on shares of Lions Gate Entertainment Corp. in a research report on Thursday, June 30th. FBR & Co lifted their price objective on Lions Gate Entertainment Corp. from $23.00 to $25.00 and gave the company an “outperform” rating in a research report on Friday, July 1st. KeyCorp reaffirmed an “overweight” rating and issued a $24.00 price objective (down previously from $27.00) on shares of Lions Gate Entertainment Corp. in a research report on Tuesday, July 5th. B. Riley reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Lions Gate Entertainment Corp. in a research report on Tuesday, July 5th. Finally, Argus reaffirmed a “buy” rating on shares of Lions Gate Entertainment Corp. in a research report on Saturday, July 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the company. Lions Gate Entertainment Corp. currently has an average rating of “Buy” and a consensus target price of $28.31.

In related news, CEO Jon Feltheimer sold 255,718 shares of the company’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $20.25, for a total value of $5,178,289.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gordon Crawford acquired 50,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The stock was acquired at an average price of $21.70 per share, with a total value of $1,085,000.00. The disclosure for this purchase can be found here. 30.40% of the stock is currently owned by insiders.

About Lions Gate Entertainment Corp.

Lions Gate Entertainment Corp. is engaged in motion picture production and distribution, television programming and syndication, home entertainment, international distribution and sales, branded channel platforms, interactive ventures and games and location-based entertainment. The Company operates through two segments: Motion Pictures and Television Production.

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