Wolfe Research Initiates 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 initiated coverage on shares of Lionsgate Studios (NYSE:LION - Free Report) in a report released on Tuesday morning, Marketbeat.com reports. The brokerage issued a peer perform rating on the stock.

A number of other research analysts also recently issued reports on the company. Loop Capital assumed coverage on Lionsgate Studios in a research note on Wednesday, June 4th. They set a "hold" rating and a $8.00 price objective for the company. Benchmark started coverage on shares of Lionsgate Studios in a research note on Monday. They set a "buy" rating and a $8.50 target price for the company. Raymond James Financial initiated coverage on Lionsgate Studios in a research note on Tuesday, May 20th. They issued an "outperform" rating and a $10.00 target price on the stock. JPMorgan Chase & Co. upgraded Lionsgate Studios from an "underweight" rating to a "neutral" rating and upped their target price for the company from $8.00 to $9.00 in a research report on Monday, March 31st. Finally, Morgan Stanley lowered their price objective on Lionsgate Studios from $8.50 to $8.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 27th. Four research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $8.81.

Lionsgate Studios Price Performance

Shares of LION traded up $0.13 during midday trading on Tuesday, hitting $6.05. 4,584,034 shares of the company traded hands, compared to its average volume of 2,522,625. The stock has a 50-day moving average of $6.33 and a 200-day moving average of $7.80. The firm has a market cap of $1.75 billion, a P/E ratio of -14.07 and a beta of -0.27. Lionsgate Studios has a one year low of $5.55 and a one year high of $8.50.

Lionsgate Studios (NYSE:LION - Get Free Report) last issued 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 firm had revenue of $1.07 billion for the quarter, compared to analysts' expectations of $1.19 billion. Sell-side analysts forecast that Lionsgate Studios will post 0.08 EPS for the current fiscal year.

Insiders Place Their Bets

In other Lionsgate Studios news, major shareholder Liberty 77 Capital L.P. purchased 72,089 shares of Lionsgate Studios stock in a transaction that occurred on Wednesday, July 9th. The stock was acquired at an average price of $5.59 per share, with a total value of $402,977.51. Following the transaction, the insider owned 37,548,125 shares in the company, valued at $209,894,018.75. This trade represents a 0.19% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last three months, insiders have purchased 1,559,489 shares of company stock worth $8,950,186. Corporate insiders own 9.40% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Kornitzer Capital Management Inc. KS bought a new position in Lionsgate Studios in the second quarter worth $6,787,000. Millennium Management LLC increased its holdings in shares of Lionsgate Studios 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 last quarter. Peregrine Capital Management LLC purchased a new stake in shares of Lionsgate Studios in the second quarter worth about $3,547,000. Anson Funds Management LP boosted its stake in 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 buying an additional 375,409 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings in Lionsgate Studios by 198.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 414,795 shares of the company's stock valued at $3,099,000 after buying an additional 275,839 shares in 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.