Lionsgate Studios (NYSE:LION) Reaches New 1-Year Low - Here's Why

Lionsgate Studios Corp. (NYSE:LION - Get Free Report)'s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $5.76 and last traded at $5.78, with a volume of 2455551 shares changing hands. The stock had previously closed at $5.92.

Analyst Ratings Changes

LION has been the topic of several recent research reports. JPMorgan Chase & Co. raised shares of Lionsgate Studios from an "underweight" rating to a "neutral" rating and upped their price target for the company from $8.00 to $9.00 in a report on Monday, March 31st. Loop Capital began coverage on shares of Lionsgate Studios in a research note on Wednesday, June 4th. They set a "hold" rating and a $8.00 target price on the stock. TD Cowen began coverage on shares of Lionsgate Studios in a research note on Tuesday, June 3rd. They set a "hold" rating and a $8.00 target price on the stock. Raymond James Financial began coverage on shares of Lionsgate Studios in a research note on Tuesday, May 20th. They set an "outperform" rating and a $10.00 target price on the stock. Finally, Rosenblatt Securities lowered their target price on shares of Lionsgate Studios from $13.00 to $9.00 and set a "buy" rating on the stock in a research note on Wednesday, June 4th. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Lionsgate Studios presently has an average rating of "Moderate Buy" and an average target price of $8.86.

Lionsgate Studios Stock Performance

The firm's 50 day moving average price is $7.36 and its 200-day moving average price is $8.22. The firm has a market capitalization of $1.67 billion and a PE ratio of -13.44.

Lionsgate Studios (NYSE:LION - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The company reported $0.17 earnings per share 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 analysts' expectations of $1.19 billion. On average, equities research analysts expect that Lionsgate Studios Corp. will post 0.08 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Anson Funds Management LP raised its position in shares of Lionsgate Studios by 11.9% during the 1st quarter. Anson Funds Management LP now owns 3,538,500 shares of the company's stock worth $26,433,000 after purchasing an additional 375,409 shares during the last quarter. Millennium Management LLC raised its position in shares of Lionsgate Studios by 72.6% during the 1st 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. Goldman Sachs Group Inc. raised its position in shares of Lionsgate Studios by 198.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 414,795 shares of the company's stock worth $3,099,000 after purchasing an additional 275,839 shares during the last quarter. Alpine Global Management LLC raised its position in shares of Lionsgate Studios by 570.9% during the 1st quarter. Alpine Global Management LLC now owns 221,753 shares of the company's stock worth $1,656,000 after purchasing an additional 188,700 shares during the last quarter. Finally, Jane Street Group LLC acquired a new position in shares of Lionsgate Studios during the 1st quarter worth about $825,000.

Lionsgate Studios Company Profile

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.

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