Lionsgate Studios (NYSE:LION) Stock Jumps 17.1% – What’s Next?

Lionsgate Studios Corp. (NYSE:LION)’s stock price was up 17.1% during mid-day trading on Tuesday. The stock traded as high as $12.88 and last traded at $12.44. 4,357,641 shares changed hands during mid-day trading, an increase of 47% from the average session volume of 2,971,464 shares. The stock had previously closed at $10.62.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on LION shares. B. Riley Financial reduced their target price on shares of Lionsgate Studios from $17.00 to $16.00 and set a “neutral” rating on the stock in a research report on Monday, August 10th. Morgan Stanley reaffirmed an “overweight” rating and set a $15.00 price target on shares of Lionsgate Studios in a report on Thursday, August 6th. Citizens Jmp initiated coverage on shares of Lionsgate Studios in a research note on Monday, September 14th. They set a “market outperform” rating and a $18.00 price target on the stock. Citigroup began coverage on shares of Lionsgate Studios in a report on Monday, September 14th. They issued a “market outperform” rating on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Lionsgate Studios in a report on Thursday, October 15th. Eight research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $15.16.

Lionsgate Studios Trading Up 4.3%

The stock has a 50-day simple moving average of $11.31 and a 200-day simple moving average of $12.52. The company has a market capitalization of $3.77 billion, a price-to-earnings ratio of -30.17 and a beta of 0.67.

Lionsgate Studios (NYSE:LION) last released its earnings results on Thursday, August 6th. The company reported $0.06 EPS for the quarter, beating the consensus estimate of ($0.08) by $0.14. The business had revenue of $776.60 million for the quarter, compared to analysts’ expectations of $703.10 million. On average, research analysts forecast that Lionsgate Studios Corp. will post 0.03 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in LION. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Lionsgate Studios in the 3rd quarter valued at about $328,000. TD Waterhouse Canada Inc. grew its stake in Lionsgate Studios by 72.0% in the third quarter. TD Waterhouse Canada Inc. now owns 41,993 shares of the company’s stock worth $472,000 after purchasing an additional 17,582 shares in the last quarter. State of Alaska Department of Revenue grew its stake in Lionsgate Studios by 39.3% in the third quarter. State of Alaska Department of Revenue now owns 13,335 shares of the company’s stock worth $149,000 after purchasing an additional 3,765 shares in the last quarter. Integrated Wealth Concepts LLC bought a new stake in Lionsgate Studios in the second quarter valued at about $118,000. Finally, Baird Financial Group Inc. bought a new stake in Lionsgate Studios in the second quarter valued at about $250,000.

About Lionsgate Studios

Lionsgate Studios (NYSE:LION) is a global entertainment company focused on the development, production and distribution of motion pictures and television programming. Its operations include theatrical film releases, home entertainment, television licensing and distribution, and the sale of content to streaming platforms and other media outlets.

The company’s film business includes established franchises such as The Hunger Games, John Wick, Twilight, Saw and Now You See Me, along with original feature films.