Lionsgate Stock Keeps Roaring, Hits Another High

Nashville Lionsgate

Stock has tripled in value since Summit deal

Lionsgate stock keeps roaring, setting another all-time high amid bullishness over its young-adult franchises such as “The Hunger Games” and its TV business.

The stock jumped 3% on Tuesday, rising 79¢, to $26.95. That’s more than three times its $8.60 price when Lionsgate acquired Summit for $412.5 million in January, 2012.

Recent developments in its TV business include ABC’s renewal of Lionsgate’s “Nashville” for a second season and George Lopez’s latest sitcom venture landing at FX with the cabler ordering 10 segments of “Saint George.” The latter will be produced by Lionsgate TV and Debmar-Mercury under Debmar’s “10/90″ model, allowing FX to quickly order 90 additional episodes if the initial 10-episode run hits predetermined ratings targets.

Lionsgate has gained over 60% this year on optimism over its young-adult franchises — including the next three “Hunger Games” films, “Ender’s Game” and “Divergent” — and better-than-expected quarterly results. That’s been fueled by  recent price target hikes, including Alan Gould of Evercore going from $24 to $30.

“Ender’s Game” debuts Nov. 1 and “The Hunger Games: Catching Fire,” starring Jennifer Lawrence, opens three weeks later on Nov. 22. “Divergent,” starring Shailene Woodley, opens March 21.

Filed Under:

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Film News from Variety

Loading