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

Lionsgate Studios Corp. (NYSE:LION) shares traded up 10.1% during trading on Friday after Robert W. Baird raised their price target on the stock from $12.00 to $14.00. Robert W. Baird currently has an outperform rating on the stock. Lionsgate Studios traded as high as $12.22 and last traded at $12.19. 4,967,841 shares changed hands during mid-day trading, an increase of 97% from the average session volume of 2,523,612 shares. The stock had previously closed at $11.07.

Other equities research analysts have also recently issued reports about the company. Citigroup upped their target price on Lionsgate Studios from $9.00 to $11.00 and gave the stock a “buy” rating in a research note on Monday, March 23rd. Morgan Stanley reissued an “overweight” rating and issued a $11.00 price objective on shares of Lionsgate Studios in a research note on Friday, February 6th. Barrington Research reissued an “outperform” rating and issued a $11.50 price objective on shares of Lionsgate Studios in a research note on Friday, February 6th. Zacks Research raised shares of Lionsgate Studios from a “strong sell” rating to a “hold” rating in a research note on Monday, January 5th. Finally, Wells Fargo & Company increased their price objective on shares of Lionsgate Studios from $9.00 to $12.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Eight equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $10.65.

Hedge Funds Weigh In On Lionsgate Studios

Several large investors have recently modified their holdings of LION. Millennium Management LLC grew its holdings in Lionsgate Studios by 72.6% in the first quarter. Millennium Management LLC now owns 1,991,515 shares of the company’s stock worth $14,877,000 after purchasing an additional 837,774 shares during the period. Goldman Sachs Group Inc. grew its holdings in 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 purchasing an additional 275,839 shares during the period. Jane Street Group LLC acquired a new stake in Lionsgate Studios in the first quarter worth $825,000. Envestnet Asset Management Inc. acquired a new stake in Lionsgate Studios in the second quarter worth $77,000. Finally, Creative Planning acquired a new stake in Lionsgate Studios in the second quarter worth $117,000.

Lionsgate Studios Price Performance

The stock has a market capitalization of $3.53 billion, a price-to-earnings ratio of -14.31 and a beta of -0.48. The business’s fifty day moving average price is $9.48 and its 200-day moving average price is $8.33.

Lionsgate Studios (NYSE:LION) last posted its 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 predict 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.