Wall Street Zen Downgrades Lionsgate Studios (NYSE:LION) to Sell

Lionsgate Studios (NYSE:LION) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a note issued to investors on Saturday.

Other equities analysts have also issued reports about the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lionsgate Studios in a report on Wednesday, October 8th. Barrington Research reissued an “outperform” rating and set a $8.50 price objective on shares of Lionsgate Studios in a report on Friday, November 7th. Morgan Stanley restated an “overweight” rating and issued a $10.00 target price on shares of Lionsgate Studios in a research note on Thursday, December 18th. Baird R W upgraded Lionsgate Studios to a “strong-buy” rating in a research report on Friday, September 5th. Finally, Robert W. Baird started coverage on shares of Lionsgate Studios in a research report on Friday, September 5th. They issued an “outperform” rating and a $8.00 price objective for the company. One equities 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 assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.14.

Lionsgate Studios Stock Up 1.8%

LION opened at $9.29 on Friday. The firm has a 50-day moving average price of $7.56 and a 200-day moving average price of $6.76. Lionsgate Studios has a twelve month low of $5.55 and a twelve month high of $9.48. The company has a market capitalization of $2.69 billion, a price-to-earnings ratio of -13.87 and a beta of -0.48.

Lionsgate Studios (NYSE:LION) last announced its quarterly 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). On average, sell-side analysts expect that Lionsgate Studios will post 0.08 earnings per share for the current fiscal year.

Insider Activity at Lionsgate Studios

In other news, insider Michael Raymond Burns sold 21,748 shares of the business’s stock in a transaction dated Tuesday, December 23rd. The stock was sold at an average price of $9.01, for a total transaction of $195,949.48. Following the completion of the transaction, the insider owned 3,061,213 shares of the company’s stock, valued at approximately $27,581,529.13. The trade was a 0.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 9.40% of the company’s stock.

Institutional Investors Weigh In On Lionsgate Studios

Several hedge funds have recently bought and sold shares of LION. Cresset Asset Management LLC increased its holdings in shares of Lionsgate Studios by 2.9% in the 3rd quarter. Cresset Asset Management LLC now owns 60,924 shares of the company’s stock worth $420,000 after buying an additional 1,743 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. grew its position in Lionsgate Studios by 11.4% in the third quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 19,025 shares of the company’s stock worth $131,000 after acquiring an additional 1,940 shares in the last quarter. Jane Street Group LLC increased its stake in Lionsgate Studios by 3.1% in the second quarter. Jane Street Group LLC now owns 113,934 shares of the company’s stock valued at $662,000 after acquiring an additional 3,455 shares during the last quarter. Bessemer Group Inc. purchased a new stake in Lionsgate Studios during the second quarter valued at about $25,000. Finally, JTC Employer Solutions Trustee Ltd bought a new stake in Lionsgate Studios during the second quarter worth about $26,000.

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.