Lionsgate Studios (NYSE:LION) Lowered to Sell Rating by Wall Street Zen

Key Points

• Lionsgate Studios has been downgraded from a "hold" to a "sell" rating by investment analysts at Wall Street Zen.
• Several analysts have revised their price targets; Citigroup reduced theirs from $13.00 to $10.00, while others suggest targets ranging from $8.00 to $10.00.
• The company's latest earnings report showed a loss of ($0.34) per share, missing the consensus estimate significantly.

Lionsgate Studios (NYSE:LION - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a research note issued on Sunday.

Several other analysts have also commented on LION. Raymond James Financial assumed coverage on shares of Lionsgate Studios in a research report on Tuesday, May 20th. They issued an "outperform" rating and a $10.00 price target on the stock. Citigroup dropped 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. Rosenblatt Securities reduced their target price on shares of Lionsgate Studios from $13.00 to $9.00 and set a "buy" rating for the company in a report on Wednesday, June 4th. Wolfe Research began coverage on shares of Lionsgate Studios in a research report on Tuesday, July 29th. They set a "peer perform" rating on the stock. Finally, Loop Capital assumed coverage on Lionsgate Studios in a report on Wednesday, June 4th. They issued a "hold" rating and a $8.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $8.83.

Lionsgate Studios Stock Up 3.8%

Shares of LION stock traded up $0.24 during mid-day trading on Friday, hitting $6.51. 1,119,665 shares of the stock were exchanged, compared to its average volume of 2,500,455. Lionsgate Studios has a 52-week low of $5.55 and a 52-week high of $8.50. The firm has a fifty day moving average of $6.18 and a 200 day moving average of $7.68. The company has a market cap of $1.88 billion, a PE ratio of -9.72 and a beta of -0.25.

Lionsgate Studios (NYSE:LION - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported ($0.34) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.18). Equities analysts predict that Lionsgate Studios will post 0.08 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Liberty 77 Capital L.P. purchased 500,000 shares of the company's stock in a transaction on Monday, July 7th. The stock was acquired at an average cost of $5.63 per share, for a total transaction of $2,815,000.00. Following the completion of the transaction, the insider directly owned 37,476,036 shares in the company, valued at $210,990,082.68. This trade represents a 1.35% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders bought a total of 1,559,489 shares of company stock valued at $8,950,186 over the last 90 days.

Institutional Investors Weigh In On Lionsgate Studios

Institutional investors have recently made changes to their positions in the company. Bessemer Group Inc. bought a new position in Lionsgate Studios in the second quarter worth approximately $25,000. JTC Employer Solutions Trustee Ltd purchased a new stake in shares of Lionsgate Studios during the second quarter valued at $26,000. FNY Investment Advisers LLC acquired a new position in shares of Lionsgate Studios in the second quarter valued at about $31,000. Caitong International Asset Management Co. Ltd purchased a new position in Lionsgate Studios during the 2nd quarter worth approximately $36,000. Finally, KBC Group NV purchased a new stake in Lionsgate Studios in the second quarter valued at $37,000.

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.