Wolfe Research Begins Coverage on Lionsgate Studios (NYSE:LION)

Key Points

• Analysts at Wolfe Research initiated coverage on Lionsgate Studios (NYSE:LION) with a "peer perform" rating, while other firms have a mix of ratings ranging from "buy" to "hold" with an average price target of $8.81.
• Lionsgate reported $0.17 EPS for the last quarter, missing estimates, with a total revenue of $1.07 billion, compared to expectations of $1.19 billion.
• Major shareholder Liberty 77 Capital L.P. bought 500,000 shares at an average cost of $5.63, increasing their ownership stake by 1.35%.

Wolfe Research assumed coverage on shares of Lionsgate Studios (NYSE:LION - Free Report) in a research report report published on Tuesday morning, MarketBeat Ratings reports. The firm issued a peer perform rating on the stock.

A number of other analysts also recently commented on LION. TD Cowen began coverage on Lionsgate Studios in a research note on Tuesday, June 3rd. They issued a "hold" rating and a $8.00 target price on the stock. Raymond James Financial started coverage on Lionsgate Studios in a research report on Tuesday, May 20th. They set an "outperform" rating and a $10.00 price target on the stock. Wall Street Zen upgraded Lionsgate Studios from a "hold" rating to a "buy" rating in a research report on Friday, May 2nd. Loop Capital started coverage on Lionsgate Studios in a research report on Wednesday, June 4th. They set a "hold" rating and a $8.00 price target on the stock. Finally, Citigroup lowered their price target on Lionsgate Studios from $13.00 to $10.00 and set a "buy" rating on the stock in a research report on Thursday, May 29th. Five research 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 company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $8.81.

Lionsgate Studios Stock Up 2.2%

Shares of LION traded up $0.13 during mid-day trading on Tuesday, reaching $6.05. The company had a trading volume of 4,584,034 shares, compared to its average volume of 2,367,484. Lionsgate Studios has a 52-week low of $5.55 and a 52-week high of $8.50. The stock has a market capitalization of $1.75 billion, a P/E ratio of -14.07 and a beta of -0.27. The stock has a 50 day moving average of $6.31 and a two-hundred day moving average of $7.77.

Lionsgate Studios (NYSE:LION - Get Free Report) last issued its earnings results 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 analysts' expectations of $1.19 billion. On average, sell-side analysts expect that Lionsgate Studios will post 0.08 earnings per share for the current year.

Insider Activity at Lionsgate Studios

In other news, major shareholder Liberty 77 Capital L.P. bought 500,000 shares of Lionsgate Studios stock in a transaction on Monday, July 7th. The stock was acquired at an average price of $5.63 per share, with a total value of $2,815,000.00. Following the completion of the acquisition, the insider directly owned 37,476,036 shares of the company's stock, valued at $210,990,082.68. The trade was a 1.35% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders purchased a total of 1,559,489 shares of company stock worth $8,950,186 over the last ninety days. 9.40% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Lionsgate Studios

A number of hedge funds have recently made changes to their positions in the company. Anson Funds Management LP raised its holdings in shares of Lionsgate Studios 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 acquiring an additional 375,409 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Lionsgate Studios by 72.6% during the first quarter. Millennium Management LLC now owns 1,991,515 shares of the company's stock valued at $14,877,000 after acquiring an additional 837,774 shares during the last quarter. Kornitzer Capital Management Inc. KS acquired a new position in shares of Lionsgate Studios during the second quarter valued at approximately $6,787,000. Peregrine Capital Management LLC acquired a new position in shares of Lionsgate Studios during the second quarter valued at approximately $3,547,000. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Lionsgate Studios by 198.5% during the first 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 during the last quarter.

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.