Lionsgate Entertainment (NYSE:LION) Shares Gap Up - Still a Buy?

Lionsgate Entertainment Corp. (NYSE:LION - Get Free Report) gapped up before the market opened on Tuesday . The stock had previously closed at $6.50, but opened at $6.69. Lionsgate Entertainment shares last traded at $6.66, with a volume of 263,867 shares.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on LION shares. Wall Street Zen upgraded shares of Lionsgate Entertainment from a "hold" rating to a "buy" rating in a research report on Friday, May 2nd. Loop Capital assumed coverage on shares of Lionsgate Entertainment in a report on Wednesday, June 4th. They set a "hold" rating and a $8.00 price objective on the stock. JPMorgan Chase & Co. raised shares of Lionsgate Entertainment from an "underweight" rating to a "neutral" rating and increased their price objective for the stock from $8.00 to $9.00 in a research report on Monday, March 31st. Citigroup reduced their target price on Lionsgate Entertainment from $13.00 to $10.00 and set a "buy" rating for the company in a research note on Thursday, May 29th. Finally, Raymond James started coverage on Lionsgate Entertainment in a research note on Tuesday, May 20th. They set an "outperform" rating and a $10.00 price target on the stock. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $8.86.

Lionsgate Entertainment Stock Up 1.9%

The firm has a 50 day moving average of $7.52 and a 200 day moving average of $8.30. The firm has a market cap of $1.96 billion, a PE ratio of -5.48, a P/E/G ratio of 13.47 and a beta of 1.07.

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

Institutional Trading of Lionsgate Entertainment

Hedge funds and other institutional investors have recently bought and sold shares of the company. Millennium Management LLC increased its holdings 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 worth $14,877,000 after purchasing an additional 837,774 shares during the period. Anson Funds Management LP boosted its stake 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 valued at $26,433,000 after buying an additional 375,409 shares during the period. Goldman Sachs Group Inc. grew its position in Lionsgate Entertainment by 198.5% during the first quarter. Goldman Sachs Group Inc. now owns 414,795 shares of the company's stock worth $3,099,000 after buying an additional 275,839 shares in the last quarter. Alpine Global Management LLC increased its stake in Lionsgate Entertainment by 570.9% in the 1st quarter. Alpine Global Management LLC now owns 221,753 shares of the company's stock worth $1,656,000 after acquiring an additional 188,700 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in Lionsgate Entertainment in the 1st quarter worth about $825,000. Institutional investors own 34.05% of the company's stock.

Lionsgate Entertainment Company Profile

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.