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

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

Analyst Ratings Changes

Several analysts recently weighed in on the stock. TD Cowen started coverage on shares of Lionsgate Entertainment in a research report on Tuesday, June 3rd. They issued a "hold" rating and a $8.00 price objective on the stock. Morgan Stanley dropped their price target on Lionsgate Entertainment from $8.50 to $8.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 27th. Rosenblatt Securities cut their price target on shares of Lionsgate Entertainment from $13.00 to $9.00 and set a "buy" rating for the company in a report on Wednesday, June 4th. JPMorgan Chase & Co. upgraded Lionsgate Entertainment from an "underweight" rating to a "neutral" rating and raised their price target for the company from $8.00 to $9.00 in a report on Monday, March 31st. Finally, Raymond James started coverage on shares of Lionsgate Entertainment in a research note on Tuesday, May 20th. They issued an "outperform" rating and a $10.00 target price for the company. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $8.86.

Lionsgate Entertainment Stock Performance

The firm's fifty day moving average is $7.45 and its 200 day moving average is $8.26. The firm has a market cap of $1.73 billion, a P/E ratio of -4.83, a P/E/G 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 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.33). The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.19 billion. Lionsgate Entertainment had a negative net margin of 7.34% and a negative return on equity of 57.26%. As a group, equities research analysts forecast that Lionsgate Entertainment Corp. will post 0.08 EPS for the current year.

Hedge Funds Weigh In On Lionsgate Entertainment

A number of institutional investors and hedge funds have recently bought and sold shares of LION. Millennium Management LLC lifted its position in shares of Lionsgate Entertainment by 72.6% in the 1st quarter. Millennium Management LLC now owns 1,991,515 shares of the company's stock worth $14,877,000 after purchasing an additional 837,774 shares during the period. Goldman Sachs Group Inc. lifted its position in Lionsgate Entertainment by 198.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 414,795 shares of the company's stock valued at $3,099,000 after acquiring an additional 275,839 shares in the last quarter. Jane Street Group LLC purchased a new stake in Lionsgate Entertainment in the 1st quarter valued at $825,000. Trexquant Investment LP purchased a new position in shares of Lionsgate Entertainment in the 1st quarter worth approximately $81,000. Finally, Nexpoint Asset Management L.P. lifted its holdings in Lionsgate Entertainment by 11.8% during the first quarter. Nexpoint Asset Management L.P. now owns 88,370 shares of the company's stock worth $660,000 after acquiring an additional 9,300 shares during the period. Institutional investors and hedge funds own 34.05% of the company's stock.

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.

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