Wolfe Research Begins Coverage on Lionsgate Studios (NYSE:LION)

Equities researchers at Wolfe Research initiated coverage on shares of Lionsgate Studios (NYSE:LION) in a report issued on Tuesday, MarketBeat reports. The firm set a “peer perform” rating on the stock.

A number of other analysts have also issued reports on the stock. TD Cowen began coverage on shares of Lionsgate Studios in a research note on Tuesday, June 3rd. They set a “hold” rating and a $8.00 target price for the company. JPMorgan Chase & Co. raised shares of Lionsgate Studios from an “underweight” rating to a “neutral” rating and boosted their target price for the company from $8.00 to $9.00 in a research note on Monday, March 31st. Benchmark began coverage on shares of Lionsgate Studios in a research note on Monday. They issued a “buy” rating and a $8.50 price objective for the company. Loop Capital began coverage on shares of Lionsgate Studios in a research note on Wednesday, June 4th. They issued a “hold” rating and a $8.00 price objective for the company. Finally, Citigroup lowered their price objective on shares of Lionsgate Studios from $13.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, May 29th. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.81.

Lionsgate Studios Trading Down 5.2%

Shares of LION opened at $5.96 on Tuesday. The firm has a market capitalization of $1.72 billion, a P/E ratio of -13.86 and a beta of -0.27. Lionsgate Studios has a 12-month low of $5.55 and a 12-month high of $8.50. The firm has a fifty day moving average price of $6.33 and a 200-day moving average price of $7.80.

Lionsgate Studios (NYSE:LION) last issued its earnings results on Thursday, May 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.33). The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.19 billion. Analysts predict that Lionsgate Studios will post 0.08 earnings per share for the current year.

Insider Activity

In related news, major shareholder Liberty 77 Capital L.P. acquired 500,000 shares of the business’s stock in a transaction dated Monday, July 7th. The shares were purchased at an average price of $5.63 per share, for a total transaction of $2,815,000.00. Following the completion of the acquisition, the insider directly owned 37,476,036 shares in the company, valued at $210,990,082.68. The trade was a 1.35% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have bought a total of 1,559,489 shares of company stock worth $8,950,186 in the last 90 days. Corporate insiders own 9.40% of the company’s stock.

Hedge Funds Weigh In On Lionsgate Studios

Several hedge funds have recently modified their holdings of LION. JTC Employer Solutions Trustee Ltd acquired a new position in shares of Lionsgate Studios during the second quarter valued at about $26,000. FNY Investment Advisers LLC acquired a new position in Lionsgate Studios in the 2nd quarter worth approximately $31,000. CWM LLC acquired a new position in Lionsgate Studios in the 2nd quarter worth approximately $44,000. Investors Research Corp acquired a new position in Lionsgate Studios in the 2nd quarter worth approximately $47,000. Finally, 111 Capital acquired a new position in Lionsgate Studios in the 2nd quarter worth approximately $66,000.

About Lionsgate Studios

Lionsgate Studios Corp. engages in the provision of motion picture and studio operations that bring a varied portfolio of entertainment to consumers. The company is headquartered in Santa Monica, CA.