Lionsgate Studios (NYSE:LION) Stock Price Down 5% – Here’s Why

Shares of Lionsgate Studios Corp. (NYSE:LION) traded down 5% on Monday . The company traded as low as $6.54 and last traded at $6.65. 1,330,605 shares were traded during mid-day trading, a decline of 46% from the average session volume of 2,464,648 shares. The stock had previously closed at $7.00.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Wall Street Zen upgraded Lionsgate Studios from a “hold” rating to a “buy” rating in a report on Friday, May 2nd. Loop Capital started coverage on shares of Lionsgate Studios in a research report on Wednesday, June 4th. They set a “hold” rating and a $8.00 price objective for the company. Raymond James Financial started coverage on shares of Lionsgate Studios in a research report on Tuesday, May 20th. They set an “outperform” rating and a $10.00 price objective for the company. TD Cowen assumed coverage on shares of Lionsgate Studios in a report on Tuesday, June 3rd. They issued a “hold” rating and a $8.00 target price for the company. Finally, Rosenblatt Securities lowered their price target on shares of Lionsgate Studios from $13.00 to $9.00 and set a “buy” rating on the stock in a research note on Wednesday, June 4th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $8.86.

Lionsgate Studios Stock Down 4.9%

The business has a fifty day moving average price of $6.56 and a 200 day moving average price of $7.97. The company has a market capitalization of $1.92 billion, a P/E ratio of -15.49 and a beta of -0.27.

Lionsgate Studios (NYSE:LION) last posted its earnings results on Thursday, May 22nd. The company reported $0.17 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.33). The firm had revenue of $1.07 billion during the quarter, compared to the consensus estimate of $1.19 billion. As a group, equities analysts forecast that Lionsgate Studios Corp. will post 0.08 earnings per share for the current year.

Insider Activity

In other Lionsgate Studios news, major shareholder Liberty 77 Capital L.P. bought 72,089 shares of the business’s stock in a transaction on Wednesday, July 9th. The stock was purchased at an average cost of $5.59 per share, for a total transaction of $402,977.51. Following the completion of the purchase, the insider directly owned 37,548,125 shares of the company’s stock, valued at approximately $209,894,018.75. This trade represents a 0.19% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Insiders purchased 1,559,489 shares of company stock valued at $8,950,186 in the last three months. Insiders own 9.40% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Millennium Management LLC increased 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 valued at $14,877,000 after purchasing an additional 837,774 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Lionsgate Studios by 198.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 414,795 shares of the company’s stock valued at $3,099,000 after buying an additional 275,839 shares during the period. Jane Street Group LLC acquired a new position in Lionsgate Studios during the 1st quarter valued at about $825,000. Congress Park Capital LLC acquired a new position in Lionsgate Studios during the 2nd quarter valued at about $1,043,000. Finally, Investors Research Corp acquired a new position in Lionsgate Studios during the 2nd quarter valued at about $47,000.

Lionsgate Studios Company Profile

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.