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Lions Gate Entertainment Corp. (USA) (LGF) Jumps on Strong Quarter, Growing Backlog

As industrywide interest jumped in Q1, some big names were leading the bulls’ herd. Ivory Capital assembled the largest position in Lions Gate Entertainment Corp. (USA) (NYSE:LGF). Ivory Capital had $24.5 million invested in the company at the end of the quarter. Peter S. Park’s Park West Asset Management also initiated a $10.9 million position during the quarter. The following funds were also among the new LGF investors: Thomas E. Claugus’s GMT Capital, Solomon Kumin’s Folger Hill Asset Management, and Wallace Weitz’s Wallace R. Weitz & Co..

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Lions Gate Entertainment Corp. (USA) (NYSE:LGF) but similarly valued. We will take a look at Telephone & Data Systems, Inc. (NYSE:TDS), Fitbit Inc (NYSE:FIT), Kate Spade & Co (NYSE:KATE), and Oceaneering International (NYSE:OII). All of these stocks’ market caps are similar to LGF’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
TDS 21 310473 -2
FIT 30 273921 3
KATE 32 694718 -4
OII 24 196430 1

As you can see these stocks had an average of 27 hedge funds with bullish positions and the average amount invested in these stocks was $369 million. That figure was $960 million in LGF’s case. Kate Spade & Co (NYSE:KATE) is the most popular stock in this table. On the other hand Telephone & Data Systems, Inc. (NYSE:TDS) is the least popular one with only 21 bullish hedge fund positions. Lions Gate Entertainment Corp. (USA) (NYSE:LGF) is not the most popular stock in this group but hedge fund interest is still above average and it has more money invested in it than any of the other stocks. Thus, it may be worth considering for a long-term holding.

Disclosure: None

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