Lionsgate Studios (NYSE:LION) Shares Down 4.9% - Time to Sell?

Lionsgate Studios Corp. (NYSE:LION - Get Free Report)'s stock price dropped 4.9% during trading on Tuesday . The company traded as low as $5.92 and last traded at $5.96. Approximately 677,073 shares changed hands during trading, a decline of 73% from the average daily volume of 2,536,762 shares. The stock had previously closed at $6.27.

Wall Street Analysts Forecast Growth

LION has been the subject of a number of analyst reports. Citigroup decreased their target price on shares of Lionsgate Studios from $13.00 to $10.00 and set a "buy" rating for the company in a research report on Thursday, May 29th. TD Cowen initiated coverage on shares of Lionsgate Studios in a report on Tuesday, June 3rd. They issued a "hold" rating and a $8.00 price target for the company. Loop Capital initiated coverage on shares of Lionsgate Studios in a report on Wednesday, June 4th. They issued a "hold" rating and a $8.00 price target for the company. Morgan Stanley decreased their price target on shares of Lionsgate Studios from $8.50 to $8.00 and set an "overweight" rating for the company in a report on Tuesday, May 27th. Finally, Raymond James Financial initiated coverage on shares of Lionsgate Studios in a report on Tuesday, May 20th. They issued an "outperform" rating and a $10.00 price target for the company. Three analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.86.

Lionsgate Studios Price Performance

The firm has a market cap of $1.67 billion and a PE ratio of -13.42. The stock's fifty day simple moving average is $7.28 and its 200-day simple moving average is $8.19.

Lionsgate Studios (NYSE:LION - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The company reported $0.17 earnings per share 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 expect that Lionsgate Studios Corp. will post 0.08 earnings per share for the current year.

Insider Transactions at Lionsgate Studios

In other Lionsgate Studios news, major shareholder Liberty 77 Capital L.P. acquired 487,400 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were purchased at an average price of $5.95 per share, for a total transaction of $2,900,030.00. Following the completion of the purchase, the insider now directly owns 36,476,036 shares of the company's stock, valued at $217,032,414.20. The trade was a 1.35% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 9.40% of the company's stock.

Institutional Trading of Lionsgate Studios

A number of hedge funds and other institutional investors have recently made changes to their positions in LION. Trexquant Investment LP acquired a new stake in Lionsgate Studios during the first quarter valued at $81,000. EntryPoint Capital LLC grew its position in Lionsgate Studios by 60.9% during the first quarter. EntryPoint Capital LLC now owns 36,754 shares of the company's stock valued at $275,000 after buying an additional 13,910 shares during the period. OMERS ADMINISTRATION Corp grew its position in Lionsgate Studios by 32.8% during the first quarter. OMERS ADMINISTRATION Corp now owns 80,000 shares of the company's stock valued at $598,000 after buying an additional 19,740 shares during the period. Nexpoint Asset Management L.P. grew its position in Lionsgate Studios by 11.8% during the first quarter. Nexpoint Asset Management L.P. now owns 88,370 shares of the company's stock valued at $660,000 after buying an additional 9,300 shares during the period. Finally, Jane Street Group LLC acquired a new stake in Lionsgate Studios during the first quarter valued at $825,000.

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.