Stock has nearly quintupled in two years
Stock rose 42 cents to $33.70 on Friday following a 65 cent rise on Thursday. The stock is now trading at five times its $7 value two years ago, when the studio cashed out Carl Icahn and his 33% stake for $311 million.
“The Hunger Games: Catching Fire,” starring Jennifer Lawrence, opens Nov. 22 with analyst expecting $900 million in worldwide box office. Studio has also overperformed on “Now You See Me” with $212 millon worldwide and “Kevin Hart: Let Me Explain” with $31 million in domestic gross.
Lionsgate has also shown good momentum in our TV business with dramedy “Orange Is the New Black” renewed for a second season by Netflix before the season one debut and 10-episode series order to a Lionsgate comedy starring Kelsey Grammer and Martin Lawrence.
The stock has hit more than two dozen record highs this year. Lionsgate will report earnings for its first quarter ended June 30 next Thursday.