Lionsgate Entertainment (NYSE:LION) Trading 3.7% Higher - What's Next?

Lionsgate Entertainment Corp. (NYSE:LION - Get Free Report) rose 3.7% during mid-day trading on Friday . The company traded as high as $7.08 and last traded at $7.02. Approximately 964,437 shares were traded during trading, a decline of 62% from the average daily volume of 2,550,990 shares. The stock had previously closed at $6.77.

Wall Street Analyst Weigh In

LION has been the subject of a number of analyst reports. Morgan Stanley cut their price objective on Lionsgate Entertainment from $8.50 to $8.00 and set an "overweight" rating for the company in a report on Tuesday, May 27th. Wall Street Zen raised Lionsgate Entertainment from a "hold" rating to a "buy" rating in a report on Friday, May 2nd. TD Cowen began 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. upgraded Lionsgate Entertainment from an "underweight" rating to a "neutral" rating and raised their target price for the company from $8.00 to $9.00 in a research note on Monday, March 31st. Finally, Raymond James began coverage on 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 investment 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 stock currently has an average rating of "Moderate Buy" and an average price target of $9.00.

Lionsgate Entertainment Price Performance

The stock has a 50-day moving average of $7.79 and a 200 day moving average of $8.35. 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 posted its earnings results 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). The company had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.19 billion. Lionsgate Entertainment had a negative return on equity of 57.26% and a negative net margin of 7.34%. Sell-side analysts anticipate that Lionsgate Entertainment Corp. will post 0.08 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Lionsgate Entertainment

Several institutional investors have recently modified their holdings of the stock. Trexquant Investment LP acquired a new position in shares of Lionsgate Entertainment in the 1st quarter valued at approximately $81,000. EntryPoint Capital LLC grew its position in shares of Lionsgate Entertainment by 60.9% in the 1st quarter. EntryPoint Capital LLC now owns 36,754 shares of the company's stock valued at $275,000 after purchasing an additional 13,910 shares during the period. OMERS ADMINISTRATION Corp grew its position in shares of Lionsgate Entertainment by 32.8% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 80,000 shares of the company's stock valued at $598,000 after purchasing an additional 19,740 shares during the period. Nexpoint Asset Management L.P. boosted its position in Lionsgate Entertainment by 11.8% during the 1st 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 last quarter. Finally, Jane Street Group LLC acquired a new position in Lionsgate Entertainment during the 1st quarter worth approximately $825,000. 34.05% of the stock is currently owned by institutional investors and hedge funds.

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.