Morgan Stanley Cuts Lionsgate Entertainment (NYSE:LION) Price Target to $8.00

Lionsgate Entertainment (NYSE:LION - Free Report) had its price objective decreased by Morgan Stanley from $8.50 to $8.00 in a research note issued to investors on Tuesday,Benzinga reports. Morgan Stanley currently has an overweight rating on the stock.

Several other research firms have also recently commented on LION. TD Cowen started coverage on Lionsgate Entertainment in a research note on Monday, May 12th. They issued a "hold" rating and a $8.00 target price for the company. JPMorgan Chase & Co. raised Lionsgate Entertainment from an "underweight" rating to a "neutral" rating and lifted their price objective for the stock from $8.00 to $9.00 in a research note on Monday, March 31st. Wall Street Zen raised Lionsgate Entertainment from a "hold" rating to a "buy" rating in a research note on Friday, May 2nd. Finally, Raymond James began coverage on Lionsgate Entertainment in a research note on Tuesday, May 20th. They set an "outperform" rating and a $10.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $9.00.

Lionsgate Entertainment Stock Up 6.9%

LION traded up $0.47 during trading on Tuesday, hitting $7.24. The company's stock had a trading volume of 3,381,821 shares, compared to its average volume of 2,605,519. The firm's 50 day moving average price is $7.79 and its two-hundred day moving average price is $8.35. Lionsgate Entertainment has a 12 month low of $6.45 and a 12 month high of $8.50. The stock has a market capitalization of $2.09 billion, a price-to-earnings ratio of -5.84, a price-to-earnings-growth ratio of 13.47 and a beta of 1.07.

Lionsgate Entertainment (NYSE:LION - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.33). Lionsgate Entertainment had a negative net margin of 7.34% and a negative return on equity of 57.26%. The business had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.19 billion. On average, sell-side analysts forecast that Lionsgate Entertainment will post 0.08 earnings per share for the current year.

Institutional Trading of Lionsgate Entertainment

A number of institutional investors have recently modified their holdings of LION. Anson Funds Management LP raised its holdings in Lionsgate Entertainment by 11.9% during the first quarter. Anson Funds Management LP now owns 3,538,500 shares of the company's stock worth $26,433,000 after acquiring an additional 375,409 shares in the last quarter. Millennium Management LLC grew its position in shares of Lionsgate Entertainment by 72.6% in the first quarter. Millennium Management LLC now owns 1,991,515 shares of the company's stock valued at $14,877,000 after purchasing an additional 837,774 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Lionsgate Entertainment by 198.5% in the first quarter. Goldman Sachs Group Inc. now owns 414,795 shares of the company's stock valued at $3,099,000 after purchasing an additional 275,839 shares during the last quarter. Alpine Global Management LLC grew its position in shares of Lionsgate Entertainment by 570.9% in the first quarter. Alpine Global Management LLC now owns 221,753 shares of the company's stock valued at $1,656,000 after purchasing an additional 188,700 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Lionsgate Entertainment in the first quarter valued at approximately $825,000. 34.05% of the stock is currently owned by institutional investors.

About Lionsgate Entertainment

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.