Lionsgate stock has hit three consecutive all-time highs on bullishness over its young-adult franchises “Twilight” and “The Hunger Games,” the latter of which set a first-day advance ticket sales record Thursday on Fandango.
The issue rose 3% Thursday, gaining 35¢ to $12.90 following 2% hikes in each of the previous sessions.
The company announced Wednesday that it had sold 5 million units of “The Twilight Saga: Breaking Dawn, Part 1” in 11 days. And the Fandango ticketing site disclosed that first-day advance ticket sales for “The Hunger Games” had already sold out hundreds of showtimes for the March 23 release — breaking the previous first-day advance ticket-sales record held by “The Twilight Saga: Eclipse” on May 14, 2010.
Lionsgate also announced that Tele Munchen Group had acquired rights to Liongate’s upcoming sitcom “Anger Managment” for Germany, Austria and German speaking Switzerland.
Analyst David Joyce of Miller Tabak upgraded the stock to a buy and lifted his price target from $12 to $14 on Wednesday. The stock has jumped 50% since Jan. 13, when Lionsgate completed its $412.5 million leveraged buyout of Summit Entertainment.