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

Lionsgate Entertainment Corp. (NYSE:LION - Get Free Report)'s stock price gapped up prior to trading 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 traded.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on LION shares. Wall Street Zen raised shares of Lionsgate Entertainment from a "hold" rating to a "buy" rating in a research note on Friday, May 2nd. TD Cowen began coverage on shares of Lionsgate Entertainment in a research note on Tuesday, June 3rd. They set a "hold" rating and a $8.00 target price on the stock. Morgan Stanley reduced their target price on shares of Lionsgate Entertainment from $8.50 to $8.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 27th. JPMorgan Chase & Co. raised shares of Lionsgate Entertainment from an "underweight" rating to a "neutral" rating and lifted their target price for the stock from $8.00 to $9.00 in a research note on Monday, March 31st. Finally, Citigroup reduced their target price on shares of Lionsgate Entertainment from $13.00 to $10.00 and set a "buy" rating on the stock in a research note on Thursday, May 29th. 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 stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $8.86.

Lionsgate Entertainment Price Performance

The business's 50 day simple moving average is $7.47 and its 200 day simple moving average is $8.27. The company has a market capitalization of $1.83 billion, a PE ratio of -5.12, a P/E/G ratio of 13.47 and a beta of 1.07.

Lionsgate Entertainment (NYSE:LION - Get Free Report) last released its quarterly 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 company had revenue of $1.07 billion during the quarter, compared to analysts' expectations 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, analysts anticipate that Lionsgate Entertainment Corp. will post 0.08 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC boosted its position in shares of Lionsgate Entertainment by 72.6% during the first quarter. Millennium Management LLC now owns 1,991,515 shares of the company's stock worth $14,877,000 after buying an additional 837,774 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of 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 during the period. Jane Street Group LLC purchased a new position in shares of Lionsgate Entertainment during the first quarter worth $825,000. Trexquant Investment LP purchased a new position in shares of Lionsgate Entertainment during the first quarter worth $81,000. Finally, Nexpoint Asset Management L.P. boosted its position in shares of 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 buying an additional 9,300 shares during the period. 34.05% of the stock is currently owned by hedge funds and other institutional investors.

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.