Michael Raymond Burns Sells 21,748 Shares of Lionsgate Studios (NYSE:LION) Stock

Lionsgate Studios Corp. (NYSE:LION) insider Michael Raymond Burns sold 21,748 shares of Lionsgate Studios stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $9.01, for a total value of $195,949.48. Following the sale, the insider owned 3,061,213 shares of the company’s stock, valued at approximately $27,581,529.13. This trade represents a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Lionsgate Studios Trading Down 1.8%

NYSE LION opened at $9.26 on Wednesday. The stock has a market cap of $2.68 billion, a PE ratio of -13.82 and a beta of -0.27. Lionsgate Studios Corp. has a 12 month low of $5.55 and a 12 month high of $9.46. The company’s 50-day moving average price is $7.39 and its 200-day moving average price is $6.70.

Lionsgate Studios (NYSE:LION) last issued its earnings results on Thursday, November 6th. The company reported ($0.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.14). As a group, sell-side analysts forecast that Lionsgate Studios Corp. will post 0.08 earnings per share for the current year.

Hedge Funds Weigh In On Lionsgate Studios

Large investors have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its holdings in shares of Lionsgate Studios by 198.5% in the first quarter. Goldman Sachs Group Inc. now owns 414,795 shares of the company’s stock worth $3,099,000 after buying an additional 275,839 shares during the last quarter. Liberty 77 Capital L.P. purchased a new stake in shares of Lionsgate Studios during the second quarter valued at $214,831,000. Harbor Capital Advisors Inc. acquired a new position in shares of Lionsgate Studios in the 3rd quarter valued at $2,749,000. NJ State Employees Deferred Compensation Plan purchased a new position in Lionsgate Studios in the 2nd quarter worth $232,000. Finally, Alpine Global Management LLC raised its stake in Lionsgate Studios by 570.9% in the 1st quarter. Alpine Global Management LLC now owns 221,753 shares of the company’s stock worth $1,656,000 after acquiring an additional 188,700 shares during the last quarter.

Analyst Ratings Changes

A number of equities research analysts have weighed in on LION shares. Wall Street Zen raised Lionsgate Studios from a “sell” rating to a “hold” rating in a research report on Saturday, December 20th. Robert W. Baird began coverage on shares of Lionsgate Studios in a research note on Friday, September 5th. They issued an “outperform” rating and a $8.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lionsgate Studios in a report on Wednesday, October 8th. Baird R W upgraded shares of Lionsgate Studios to a “strong-buy” rating in a report on Friday, September 5th. Finally, Barrington Research reiterated an “outperform” rating and set a $8.50 price objective on shares of Lionsgate Studios in a research note on Friday, November 7th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, four have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $9.14.

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.