Lionsgate Studios (NYSE:LION) Hits New 12-Month High – Time to Buy?

Shares of Lionsgate Studios Corp. (NYSE:LION) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $9.68 and last traded at $9.36, with a volume of 3772155 shares. The stock had previously closed at $9.57.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. Barrington Research reissued an “outperform” rating and issued a $8.50 price objective on shares of Lionsgate Studios in a research report on Friday, November 7th. Benchmark lifted their target price on Lionsgate Studios from $8.50 to $11.00 and gave the company a “buy” rating in a research report on Monday, November 24th. Wall Street Zen raised Lionsgate Studios from a “sell” rating to a “hold” rating in a research report on Saturday, January 17th. Zacks Research upgraded Lionsgate Studios from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Lionsgate Studios in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $9.14.

Lionsgate Studios Price Performance

The business has a 50-day moving average of $8.33 and a two-hundred day moving average of $7.10. The company has a market cap of $2.82 billion, a P/E ratio of -14.55 and a beta of -0.48.

Lionsgate Studios (NYSE:LION) last released its quarterly earnings results on Thursday, November 6th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.14). Equities analysts anticipate that Lionsgate Studios Corp. will post 0.08 EPS for the current fiscal year.

Insider Transactions at Lionsgate Studios

In other news, insider Michael Raymond Burns sold 21,748 shares of the company’s stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $9.01, for a total transaction of $195,949.48. Following the transaction, the insider directly owned 3,061,213 shares of the company’s stock, valued at approximately $27,581,529.13. This represents a 0.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 9.40% of the company’s stock.

Institutional Investors Weigh In On Lionsgate Studios

Several institutional investors have recently added to or reduced their stakes in the business. Harbor Capital Advisors Inc. purchased a new position in shares of Lionsgate Studios in the 3rd quarter valued at approximately $2,749,000. Liberty 77 Capital L.P. acquired a new position in Lionsgate Studios during the 2nd quarter valued at approximately $214,831,000. Sequoia Financial Advisors LLC acquired a new position in Lionsgate Studios during the 3rd quarter valued at approximately $1,357,000. NJ State Employees Deferred Compensation Plan purchased a new position in shares of Lionsgate Studios in the second quarter worth $232,000. Finally, Swiss National Bank acquired a new stake in shares of Lionsgate Studios during the second quarter worth $2,377,000.

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.