Lionsgate Stock Hits Another All-Time High on NYSE
TORONTO – Stock in Lionsgate on Friday hit another all-time high as investors look ahead to more young-adult tentpole movie profits.
Shares in the mini-studio rose sharply in morning trading to reach $26.54 before settling back in the afternoon to $26.06, up 13 cents or .50 percent, on an average volume of 1.39 million shares.
Lionsgate, which has a market cap of $3.52 billion, has seen its shares rise sharply in the past year on its movie pipeline, which includes the Twilight and Hunger Games franchises.
The mini-studio also has Divergent in the queue for a March release.
Lionsgate’s stock began its meteoric rise in October 2011 after senior management at the Vancouver-based company fended off billionaire investor Carl Icahn.
The Vancouver-based company will release its latest financial results May 30.