Lionsgate Studios (NYSE:LION) Coverage Initiated at Benchmark

Equities research analysts at Benchmark began coverage on shares of Lionsgate Studios (NYSE:LION) 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 target points to a potential upside of 34.92% from the stock’s previous close.

A number of other equities analysts have also weighed in on the stock. Citigroup dropped their target price on shares of Lionsgate Studios from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, May 29th. Wall Street Zen raised Lionsgate Studios from a “hold” rating to a “buy” rating in a report on Friday, May 2nd. Rosenblatt Securities decreased their price objective on shares of Lionsgate Studios from $13.00 to $9.00 and set a “buy” rating on the stock in a report on Wednesday, June 4th. Raymond James Financial started coverage on shares of Lionsgate Studios in a research report on Tuesday, May 20th. They set an “outperform” rating and a $10.00 price target on the stock. Finally, 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. Four 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $8.81.

Lionsgate Studios Stock Down 3.8%

Shares of LION opened at $6.30 on Monday. Lionsgate Studios has a twelve month low of $5.55 and a twelve month high of $8.50. The business’s 50-day moving average price is $6.35 and its 200-day moving average price is $7.81. The stock has a market cap of $1.82 billion, a PE ratio of -14.65 and a beta of -0.27.

Lionsgate Studios (NYSE:LION) last issued its quarterly earnings data on Thursday, May 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.33). The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.19 billion. Analysts expect that Lionsgate Studios will post 0.08 earnings per share for the current fiscal year.

Insider Transactions at Lionsgate Studios

In other news, major shareholder Liberty 77 Capital L.P. acquired 72,089 shares of the business’s stock in a transaction dated Wednesday, July 9th. The shares were bought at an average cost of $5.59 per share, for a total transaction of $402,977.51. Following the acquisition, the insider directly owned 37,548,125 shares in the company, valued at $209,894,018.75. This trade represents a 0.19% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have purchased a total of 1,559,489 shares of company stock worth $8,950,186 in the last quarter.

Institutional Investors Weigh In On Lionsgate Studios

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Uhlmann Price Securities LLC purchased a new stake in Lionsgate Studios during the second quarter valued at about $252,000. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of Lionsgate Studios in the second quarter valued at $26,000. Aire Advisors LLC bought a new stake in shares of Lionsgate Studios during the 2nd quarter valued at $121,000. Credit Industriel ET Commercial raised its holdings in Lionsgate Studios by 357.5% during the 2nd quarter. Credit Industriel ET Commercial now owns 228,766 shares of the company’s stock worth $1,329,000 after buying an additional 178,766 shares during the period. Finally, CWM LLC acquired a new position in shares of Lionsgate Studios during the 2nd quarter worth approximately $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.