Lions Gate Entertainment Corp. (LGF-B) Rebounds From “Absolutely Silly Prices”
Investment management company Cove Street Capital recently released its “Small Cap Value Fund” first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund returned 2.83% compared to 2.74% for the Russell 2000 Index and -0.66% for the Russell 2000 Value Index. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
Cove Street Capital Small Cap Value Fund highlighted stocks like Lions Gate Entertainment Corp. (NYSE:LGF-B) in the first quarter 2023 investor letter. Headquartered in Santa Monica, California, Lions Gate Entertainment Corp. (NYSE:LGF-B) engages in film, television, subscription, and location-based entertainment businesses. On April 10, 2023, Lions Gate Entertainment Corp. (NYSE:LGF-B) stock closed at $10.67 per share. One-month return of Lions Gate Entertainment Corp. (NYSE:LGF-B) was 25.83%, and its shares lost 25.23% of their value over the last 52 weeks. Lions Gate Entertainment Corp. (NYSE:LGF-B) has a market capitalization of $2.504 billion.
Cove Street Capital Small Cap Value Fund made the following comment about Lions Gate Entertainment Corp. (NYSE:LGF-B) in its Q1 2023 investor letter:
"Lions Gate Entertainment Corp. (NYSE:LGF-B) bounced to the top of the contributor list this quarter, most of which was a rebound from “absolutely silly prices” per our research efforts. The company’s plan to split into two separate entities – the “Studio” and Starz - continues on track for completion this calendar year, and the latest release of the tent pole John Wick movie franchise has gotten solid reviews. We continue to value the stock into the mid-teens."
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Lions Gate Entertainment Corp. (NYSE:LGF-B) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 21 hedge fund portfolios held Lions Gate Entertainment Corp. (NYSE:LGF-B) at the end of the fourth quarter which was 23 in the previous quarter.
We discussed Lions Gate Entertainment Corp. (NYSE:LGF-B) in another article and shared Cove Street Capital's views on the company. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
