Lionsgate Entertainment (NYSE:LION) Hits New 52-Week Low – Here’s Why

Lionsgate Entertainment Corp. (NYSE:LION) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $6.62 and last traded at $6.73, with a volume of 63199 shares trading hands. The stock had previously closed at $6.82.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. StockNews.com upgraded Lionsgate Entertainment from a “hold” rating to a “buy” rating in a research note on Friday, May 2nd. TD Cowen initiated coverage on Lionsgate Entertainment in a research report on Monday, May 12th. They set a “hold” rating and a $8.00 price target on the stock. Finally, JPMorgan Chase & Co. upgraded Lionsgate Entertainment from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $8.00 to $9.00 in a research report on Monday, March 31st. Three equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $8.50.

Lionsgate Entertainment Trading Down 1.0%

The business has a 50-day moving average price of $8.29 and a two-hundred day moving average price of $8.43. The firm has a market capitalization of $1.95 billion, a price-to-earnings ratio of -5.44, a PEG ratio of 13.47 and a beta of 1.07.

Institutional Trading of Lionsgate Entertainment

Large investors have recently added to or reduced their stakes in the business. Trexquant Investment LP acquired a new stake in Lionsgate Entertainment in the 1st quarter valued at approximately $81,000. EntryPoint Capital LLC increased its position in Lionsgate Entertainment by 60.9% in the 1st quarter. EntryPoint Capital LLC now owns 36,754 shares of the company’s stock valued at $275,000 after acquiring an additional 13,910 shares during the period. OMERS ADMINISTRATION Corp increased its position in Lionsgate Entertainment by 32.8% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 80,000 shares of the company’s stock valued at $598,000 after acquiring an additional 19,740 shares during the period. Nexpoint Asset Management L.P. increased its position in Lionsgate Entertainment by 11.8% in the 1st quarter. Nexpoint Asset Management L.P. now owns 88,370 shares of the company’s stock valued at $660,000 after acquiring an additional 9,300 shares during the period. Finally, Alpine Global Management LLC increased its position in Lionsgate Entertainment by 570.9% in the 1st quarter. Alpine Global Management LLC now owns 221,753 shares of the company’s stock valued at $1,656,000 after acquiring an additional 188,700 shares during the period. 34.05% of the stock is currently owned by institutional investors and hedge funds.

About Lionsgate Entertainment

Lionsgate Studios Corp. engages in the provision of motion picture and studio operations that bring a varied portfolio of entertainment to consumers. The company is headquartered in Santa Monica, CA.