Lions Gate Entertainment Corp. (USA) (NYSE:LGF) ’s Ender’s Game Reeled $28M

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Dallas, Texas 11/06/2013 (Financialstrend) – Lions Gate Entertainment Corp. (USA) (NYSE:LGF)’s Ender’s Game reeled in $28M at the domestic box office. However, this cannot really be considered to be a victory for the company. Since the time Lions Gate Entertainment Corp. (USA) (NYSE:LGF) produced The Hunger Games, its hit last year, the company has been on the look-out for another franchise to bring in some reliable results for the studio.

Though the movie did fairly well at the box office, it does not seem to be franchise-material. The movie did pretty well over the weekend that the other releases like Mortal Instruments and The Host but it also cost much more. The company spent $110M to produce Ender’s Game and spent much more on the ad campaign but was unable to generate too much interest. By the looks of it, the company might not be able to recoup its budget.

Tuesday’s trading

In Tuesday’s trading, Lions Gate Entertainment Corp. (USA) (NYSE:LGF) dropped by 0.06%. The opening price of the shares was $34.86, which climbed to an intraday high of $35.29 and dipped to a close of $34.92. Around 1.66M shares were traded on Tuesday while an average volume of 1.36M shares were traded over a 30 day period. The 52-week low of Lions Gate Entertainment Corp. (USA) (NYSE:LGF) shares is $14.58 and its 52-week high is $37.81. The company has a market capitalization of $4.79 billion.                                        

About the company

Lions Gate Entertainment Corp. (USA) (NYSE:LGF) is a global entertainment-company that has a diversified-presence in motion picture production & distribution, TV programming and syndication, home-entertainment, family-entertainment, digital distribution, new-channel platforms & international distribution & sales. In the financial year that ended 31 March 2013, it released 20 motion-pictures theatrically. These include both Lionsgate & Summit Entertainment, LLC films that were developed & produced in-house, films that were co-developed & co-produced 7 films that were bought from third parties.

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