Brokerages Set Lionsgate Studios Corp. (NYSE:LION) Target Price at $8.81

Lionsgate Studios Corp. (NYSE:LION) has received an average rating of “Moderate Buy” from the eleven analysts that are presently covering the stock, Marketbeat.com reports. Four analysts have rated the stock with a hold recommendation, six have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $8.8333.

A number of brokerages have recently issued reports on LION. Wall Street Zen upgraded Lionsgate Studios to a “hold” rating in a research report on Saturday. Wolfe Research began coverage on Lionsgate Studios in a research report on Tuesday, July 29th. They set a “peer perform” rating for the company. Morgan Stanley dropped their price target on Lionsgate Studios from $8.50 to $8.00 and set an “overweight” rating for the company in a research report on Tuesday, May 27th. Citigroup dropped their price target on Lionsgate Studios from $13.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, May 29th. Finally, Rosenblatt Securities dropped their price target on Lionsgate Studios from $13.00 to $9.00 and set a “buy” rating for the company in a research report on Wednesday, June 4th.

Insider Buying and Selling

In related news, major shareholder Liberty 77 Capital L.P. purchased 72,089 shares of Lionsgate Studios stock in a transaction on Wednesday, July 9th. The stock was acquired at an average price of $5.59 per share, for a total transaction of $402,977.51. Following the completion of the transaction, the insider directly owned 37,548,125 shares in the company, valued at $209,894,018.75. This represents a 0.19% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders acquired a total of 1,559,489 shares of company stock worth $8,950,186 in the last three months.

Institutional Trading of Lionsgate Studios

Several institutional investors have recently made changes to their positions in the business. NJ State Employees Deferred Compensation Plan bought a new position in Lionsgate Studios during the second quarter valued at approximately $232,000. Bank of New York Mellon Corp bought a new stake in shares of Lionsgate Studios in the 2nd quarter valued at approximately $7,157,000. Wolverine Asset Management LLC bought a new stake in shares of Lionsgate Studios in the 2nd quarter valued at approximately $190,000. Amalgamated Bank bought a new stake in shares of Lionsgate Studios in the 2nd quarter valued at approximately $38,000. Finally, Peregrine Capital Management LLC bought a new stake in shares of Lionsgate Studios in the 2nd quarter valued at approximately $3,547,000.

Lionsgate Studios Stock Down 3.7%

Shares of NYSE:LION opened at $5.77 on Friday. Lionsgate Studios has a twelve month low of $5.55 and a twelve month high of $8.50. The stock’s 50 day moving average is $6.28 and its 200-day moving average is $7.74. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of -13.42 and a beta of -0.25.

Lionsgate Studios (NYSE:LION) last announced its earnings results on Thursday, May 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.33). The firm had revenue of $1.07 billion during the quarter, compared to analysts’ expectations of $1.19 billion. Equities research analysts anticipate that Lionsgate Studios will post 0.08 earnings per share for the current fiscal year.

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.