Lionsgate Studios (NYSE:LION) Trading Up 10.1% Following Analyst Upgrade

Shares of Lionsgate Studios Corp. (NYSE:LION) were up 10.1% during trading on Friday after Wall Street Zen upgraded the stock from a sell rating to a hold rating. The company traded as high as $12.22 and last traded at $12.19. Approximately 4,967,841 shares were traded during trading, an increase of 97% from the average daily volume of 2,523,612 shares. The stock had previously closed at $11.07.

A number of other research firms have also recently commented on LION. Citigroup lifted their price target on shares of Lionsgate Studios from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Monday, March 23rd. Zacks Research raised shares of Lionsgate Studios from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Benchmark boosted their price objective on shares of Lionsgate Studios from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, February 3rd. Robert W. Baird boosted their price objective on shares of Lionsgate Studios from $12.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Lionsgate Studios in a research report on Thursday, January 22nd. Eight research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $10.65.

Hedge Funds Weigh In On Lionsgate Studios

A number of institutional investors have recently modified their holdings of LION. Jericho Capital Asset Management L.P. purchased a new position in shares of Lionsgate Studios during the fourth quarter worth approximately $51,119,000. Anson Funds Management LP increased its position in shares of Lionsgate Studios by 36.3% during the fourth quarter. Anson Funds Management LP now owns 9,556,948 shares of the company’s stock worth $87,255,000 after acquiring an additional 2,543,352 shares during the period. Marshall Wace LLP increased its position in shares of Lionsgate Studios by 273.4% during the fourth quarter. Marshall Wace LLP now owns 2,331,777 shares of the company’s stock worth $21,289,000 after acquiring an additional 1,707,282 shares during the period. Broad Bay Capital Management LP increased its position in shares of Lionsgate Studios by 38.7% during the fourth quarter. Broad Bay Capital Management LP now owns 5,168,008 shares of the company’s stock worth $47,184,000 after acquiring an additional 1,441,700 shares during the period. Finally, Ratan Capital Management LP purchased a new position in shares of Lionsgate Studios during the third quarter worth approximately $9,142,000.

Lionsgate Studios Price Performance

The stock’s 50-day moving average price is $9.55 and its 200 day moving average price is $8.37. The firm has a market capitalization of $3.62 billion, a PE ratio of -14.66 and a beta of -0.48.

Lionsgate Studios (NYSE:LION) last announced its quarterly earnings results on Thursday, February 5th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The firm had revenue of $724.30 million for the quarter, compared to analysts’ expectations of $706.03 million. Equities research analysts forecast that Lionsgate Studios Corp. will post 0.08 earnings per share for the current fiscal year.

Lionsgate Studios Company Profile

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.