Lionsgate Studios (NYSE:LION) Lowered to Hold Rating by Zacks Research

Key Points

• Zacks Research downgraded Lionsgate Studios from strong-buy to hold, adding to a mixed analyst picture around the stock.
• Other firms remain more optimistic: several analysts reiterated buy/outperform ratings, and the current consensus is Hold with an average price target of $15.57.
• Lionsgate Studios opened at $13.42 and currently has a market cap of about $3.9 billion; institutional investors such as Millennium Management and Goldman Sachs also increased their stakes recently.

Lionsgate Studios (NYSE:LION - Get Free Report) was downgraded by Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued on Wednesday,Zacks.com reports.

Several other analysts have also recently weighed in on LION. Raymond James Financial reaffirmed an "outperform" rating and issued a $15.00 price target on shares of Lionsgate Studios in a report on Friday, May 22nd. Barrington Research boosted their price objective on Lionsgate Studios from $14.50 to $17.00 and gave the stock an "outperform" rating in a report on Tuesday, May 26th. Benchmark upped their price objective on shares of Lionsgate Studios from $15.00 to $17.00 and gave the stock a "buy" rating in a research report on Thursday, June 11th. Seaport Research Partners reaffirmed a "buy" rating and issued a $16.00 target price on shares of Lionsgate Studios in a research note on Friday, May 22nd. Finally, B. Riley Financial initiated coverage on shares of Lionsgate Studios in a research report on Wednesday, July 1st. They set a "neutral" rating and a $17.00 target price for the company. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $15.57.

Lionsgate Studios Price Performance

LION opened at $13.42 on Wednesday. The company has a fifty day moving average price of $14.16 and a 200-day moving average price of $11.43. The firm has a market capitalization of $3.90 billion, a P/E ratio of -18.64 and a beta of 0.64. Lionsgate Studios has a one year low of $5.65 and a one year high of $16.70.

Hedge Funds Weigh In On Lionsgate Studios

Several institutional investors have recently modified their holdings of LION. Millennium Management LLC lifted its position in Lionsgate Studios by 72.6% in the 1st 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 last quarter. Goldman Sachs Group Inc. grew its position in 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. Jane Street Group LLC bought a new position in Lionsgate Studios during the first quarter valued at approximately $825,000. Envestnet Asset Management Inc. purchased a new position in shares of Lionsgate Studios during the second quarter worth approximately $77,000. Finally, Creative Planning purchased a new position in shares of Lionsgate Studios during the second quarter worth approximately $117,000.

About Lionsgate Studios

Lionsgate Studios, operating under the ticker NYSE:LION, is a leading global entertainment company specializing in the production, acquisition and distribution of motion pictures, television programming and digital content. Headquartered in Santa Monica, California, and with additional operations in Vancouver, the company develops, finances and markets feature films that span a wide range of genres—from major franchise hits like The Hunger Games and John Wick to independent and specialty titles.

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