Lionsgate Studios (NYSE:LION) Shares Gap Up - Here's What Happened

Key Points

• Lionsgate Studios shares gapped up before Wednesday’s open, opening at $14.25 after closing at $13.29 and last trading around $14.21, a move of about 5.6% on the session.
• Recent analyst updates were mixed, but the overall tone remains constructive: Citigroup downgraded the stock to neutral, while Barrington Research raised its target to $17 and several firms reiterated buy or outperform ratings. MarketBeat says the stock’s average rating is Moderate Buy with a target price of $15.57.
• The company has a market value of about $4.08 billion, and institutional investors have been adding to positions in recent quarters, including several new or expanded holdings by smaller funds.

Shares of Lionsgate Studios Corp. (NYSE:LION - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $13.29, but opened at $14.25. Lionsgate Studios shares last traded at $14.21, with a volume of 1,365,528 shares traded.

Analyst Ratings Changes

A number of equities research analysts recently commented on LION shares. Citigroup downgraded Lionsgate Studios from a "buy" rating to a "neutral" rating and boosted their target price for the stock from $11.00 to $12.60 in a research report on Monday, April 20th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Lionsgate Studios in a research note on Tuesday, April 21st. Raymond James Financial reaffirmed an "outperform" rating and set a $15.00 price objective on shares of Lionsgate Studios in a report on Friday, May 22nd. Seaport Research Partners reiterated a "buy" rating and set a $16.00 target price on shares of Lionsgate Studios in a research report on Friday, May 22nd. Finally, Barrington Research raised their target price on shares of Lionsgate Studios from $14.50 to $17.00 and gave the company an "outperform" rating in a report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $15.57.

Lionsgate Studios Stock Up 5.6%

The company has a 50 day simple moving average of $13.98 and a two-hundred day simple moving average of $11.21. The company has a market capitalization of $4.08 billion, a P/E ratio of -19.50 and a beta of 0.64.

Institutional Trading of Lionsgate Studios

Institutional investors have recently bought and sold shares of the stock. Osaic Holdings Inc. increased its position in Lionsgate Studios by 4,852.0% during the second quarter. Osaic Holdings Inc. now owns 4,952 shares of the company's stock valued at $29,000 after acquiring an additional 4,852 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Lionsgate Studios by 99.3% in the 4th quarter. GAMMA Investing LLC now owns 3,559 shares of the company's stock worth $32,000 after acquiring an additional 1,773 shares during the last quarter. CIBC Private Wealth Group LLC purchased a new position in shares of Lionsgate Studios during the 3rd quarter worth about $38,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of Lionsgate Studios during the 4th quarter worth about $44,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Lionsgate Studios during the 4th quarter worth about $55,000.

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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