5 Stocks to Buy Now According to Steve Ketchum’s Sound Point Capital

2. Lions Gate Entertainment Corp. (NYSE:LGF-B)

Sound Point Capital’s Stake Value: $1,078,000
Percentage of Sound Point Capital’s 13F Portfolio: 3.81%
Number of Hedge Fund Holders: 23

In Canada, the United States, and globally, Lions Gate Entertainment Corp. (NYSE:LGF-B) operates in the film, television, subscription, and location-based entertainment industries. On January 31, Truist analyst Matthew Thornton maintained a Buy recommendation on Lions Gate Entertainment Corp. (NYSE:LGF-B) and boosted his price objective to $18 from $16.

Insider Monkey reported 23 hedge funds had positions in Lions Gate Entertainment Corp. (NYSE:LGF-B) by the end of the fourth quarter of 2021. These holdings were worth a total of $487.85 million.

Sound Point Capital holds 70,063 shares in Lions Gate Entertainment Corp. (NYSE:LGF-B), worth over $1.08 million. This represents 3.81% of its portfolio. Mark Rachesky’s MHR Fund Management is the leading shareholder of Lions Gate Entertainment Corp. (NYSE:LGF-B), owning 19.26 million shares worth $320.43 million.

In its fourth-quarter 2021 investor letter, Sterling Partners Equity Advisors mentioned Lions Gate Entertainment Corp. (NYSE:LGF-B). Here is what the fund said:

“Lionsgate is a global content platform whose films, television series, digital products and linear and over-the-top platforms reach audiences around the world. Our thesis is that part of the growth of leisure, entertainment, and the content that drives it, will continue to gain share of the economy.

Management indicated positive momentum in all business segments during the quarter. Starz added 1.3 million global streaming subscribers with strong premieres of three new series. The Television Group launched six new series and renewed six current shows. The Motion Picture Grouped added nine new film production starts to a robust pipeline. Lionsgate completed an acquisition of a 200-title library from Sypglass Media Group.”