Benchmark Initiates Coverage on Lionsgate Studios (NYSE:LION)

Key Points

• Analysts at Benchmark initiated coverage on Lionsgate Studios (NYSE:LION) with a "buy" rating and a price target of $8.50, suggesting a potential upside of 29.38% from the last close.
• The company reported earnings per share of $0.17, missing the consensus estimate of $0.50, along with quarterly revenue of $1.07 billion, underperforming compared to expectations of $1.19 billion.
• Major shareholder Liberty 77 Capital L.P. increased their stake by purchasing 500,000 shares at an average cost of $5.63 per share, boosting their ownership to approximately $210.99 million.

Equities researchers at Benchmark initiated coverage on shares of Lionsgate Studios (NYSE:LION - Get Free Report) in a research note issued to investors on Monday, MarketBeat.com reports. The firm set a "buy" rating and a $8.50 price target on the stock. Benchmark's price objective points to a potential upside of 34.92% from the stock's previous close.

LION has been the topic of a number of other reports. Wall Street Zen upgraded Lionsgate Studios from a "hold" rating to a "buy" rating in a report on Friday, May 2nd. Morgan Stanley cut their price objective on Lionsgate Studios from $8.50 to $8.00 and set an "overweight" rating on the stock in a report on Tuesday, May 27th. TD Cowen started coverage on Lionsgate Studios in a report on Tuesday, June 3rd. They issued a "hold" rating and a $8.00 price objective on the stock. Loop Capital started coverage on Lionsgate Studios in a report on Wednesday, June 4th. They issued a "hold" rating and a $8.00 price objective on the stock. Finally, JPMorgan Chase & Co. upgraded Lionsgate Studios from an "underweight" rating to a "neutral" rating and raised their price objective for the stock from $8.00 to $9.00 in a report on Monday, March 31st. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $8.81.

Lionsgate Studios Stock Down 3.8%

Shares of LION traded down $0.25 during trading hours on Monday, reaching $6.30. 2,307,193 shares of the company traded hands, compared to its average volume of 2,192,343. The stock has a market capitalization of $1.82 billion, a PE ratio of -14.65 and a beta of -0.27. Lionsgate Studios has a fifty-two week low of $5.55 and a fifty-two week high of $8.50. The stock has a fifty day simple moving average of $6.36 and a 200 day simple moving average of $7.82.

Lionsgate Studios (NYSE:LION - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The company reported $0.17 EPS for the quarter, missing analysts' consensus estimates of $0.50 by ($0.33). The company had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.19 billion. Research analysts predict that Lionsgate Studios will post 0.08 EPS for the current fiscal year.

Insider Activity

In other Lionsgate Studios news, major shareholder Liberty 77 Capital L.P. bought 500,000 shares of the business's stock in a transaction on Monday, July 7th. The shares were bought at an average cost of $5.63 per share, with a total value of $2,815,000.00. Following the transaction, the insider directly owned 37,476,036 shares in the company, valued at approximately $210,990,082.68. This trade represents a 1.35% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders purchased 1,559,489 shares of company stock valued at $8,950,186.

Hedge Funds Weigh In On Lionsgate Studios

A number of institutional investors have recently made changes to their positions in LION. JTC Employer Solutions Trustee Ltd bought a new stake in shares of Lionsgate Studios in the 2nd quarter valued at approximately $26,000. CWM LLC bought a new position in Lionsgate Studios during the 2nd quarter worth $44,000. Investors Research Corp bought a new position in Lionsgate Studios during the 2nd quarter worth $47,000. 111 Capital bought a new position in Lionsgate Studios during the 2nd quarter worth $66,000. Finally, Trexquant Investment LP bought a new position in Lionsgate Studios during the 1st quarter worth $81,000.

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.