Lionsgate Studios (NYSE:LION) Coverage Initiated at Benchmark

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.

Stock analysts at Benchmark began coverage on shares of Lionsgate Studios (NYSE:LION - Get Free Report) in a research note issued to investors on Monday, Marketbeat.com reports. The brokerage set a "buy" rating and a $8.50 price target on the stock. Benchmark's price objective suggests a potential upside of 40.50% from the company's previous close.

LION has been the topic of several other reports. Loop Capital initiated coverage on Lionsgate Studios in a research report on Wednesday, June 4th. They issued a "hold" rating and a $8.00 target price on the stock. JPMorgan Chase & Co. raised Lionsgate Studios from an "underweight" rating to a "neutral" rating and increased their price target for the stock from $8.00 to $9.00 in a research report on Monday, March 31st. Rosenblatt Securities cut their price target on Lionsgate Studios from $13.00 to $9.00 and set a "buy" rating on the stock in a research report on Wednesday, June 4th. TD Cowen initiated coverage on Lionsgate Studios in a research report on Tuesday, June 3rd. They set a "hold" rating and a $8.00 price target on the stock. Finally, Morgan Stanley cut their price target on Lionsgate Studios from $8.50 to $8.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 27th. Four investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $8.81.

Lionsgate Studios Stock Performance

Lionsgate Studios stock traded up $0.13 during mid-day trading on Monday, reaching $6.05. 4,412,704 shares of the company were exchanged, compared to its average volume of 2,512,813. The business has a fifty day moving average of $6.33 and a 200 day moving average of $7.80. The firm has a market cap of $1.75 billion, a P/E ratio of -14.07 and a beta of -0.27. Lionsgate Studios has a 12-month low of $5.55 and a 12-month high of $8.50.

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

Insiders Place Their Bets

In related news, major shareholder Liberty 77 Capital L.P. purchased 500,000 shares of the firm's stock in a transaction that occurred on Monday, July 7th. The shares were purchased at an average cost of $5.63 per share, with a total value of $2,815,000.00. Following the purchase, the insider owned 37,476,036 shares of the company's stock, valued at $210,990,082.68. This represents a 1.35% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last 90 days, insiders have bought 1,559,489 shares of company stock valued at $8,950,186. Company insiders own 9.40% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Bessemer Group Inc. acquired a new stake in Lionsgate Studios in the 2nd quarter valued at about $25,000. JTC Employer Solutions Trustee Ltd acquired a new stake in Lionsgate Studios in the 2nd quarter valued at about $26,000. FNY Investment Advisers LLC acquired a new stake in Lionsgate Studios in the 2nd quarter valued at about $31,000. Caitong International Asset Management Co. Ltd acquired a new stake in Lionsgate Studios in the 2nd quarter valued at about $36,000. Finally, CWM LLC acquired a new stake in Lionsgate Studios in the 2nd quarter valued at about $44,000.

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.