Lionsgate Studios (NYSE:LION) Hits New 52-Week Low – Time to Sell?

Lionsgate Studios Corp. (NYSE:LION)’s stock price hit a new 52-week low during trading on Monday . The company traded as low as $5.60 and last traded at $5.64, with a volume of 2018919 shares trading hands. The stock had previously closed at $5.85.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Lionsgate Studios from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $8.00 to $9.00 in a research note on Monday, March 31st. Citigroup lowered their price target on shares of Lionsgate Studios from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, May 29th. Loop Capital started coverage on shares of Lionsgate Studios in a research note on Wednesday, June 4th. They set a “hold” rating and a $8.00 price objective on the stock. Raymond James Financial assumed coverage on shares of Lionsgate Studios in a research note on Tuesday, May 20th. They set an “outperform” rating and a $10.00 price objective on the stock. Finally, Wall Street Zen raised shares of Lionsgate Studios from a “hold” rating to a “buy” rating in a research note on Friday, May 2nd. Three analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lionsgate Studios currently has a consensus rating of “Moderate Buy” and an average target price of $8.86.

Lionsgate Studios Trading Down 4.1%

The company has a market capitalization of $1.62 billion, a P/E ratio of -13.05 and a beta of -0.27. The business’s 50-day simple moving average is $6.85 and its 200 day simple moving average is $8.04.

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

Insider Buying and Selling at Lionsgate Studios

In related news, major shareholder Liberty 77 Capital L.P. purchased 487,400 shares of the firm’s stock in a transaction that occurred on Tuesday, June 17th. The stock was acquired at an average cost of $5.95 per share, for a total transaction of $2,900,030.00. Following the completion of the acquisition, the insider owned 36,476,036 shares in the company, valued at $217,032,414.20. This trade represents a 1.35% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have purchased 987,400 shares of company stock valued at $5,732,209 over the last quarter.

Institutional Trading of Lionsgate Studios

Several institutional investors have recently made changes to their positions in the stock. Anson Funds Management LP lifted its stake in Lionsgate Studios by 11.9% in the first quarter. Anson Funds Management LP now owns 3,538,500 shares of the company’s stock valued at $26,433,000 after acquiring an additional 375,409 shares during the last quarter. Millennium Management LLC increased its position in Lionsgate Studios by 72.6% during the first quarter. Millennium Management LLC now owns 1,991,515 shares of the company’s stock worth $14,877,000 after acquiring an additional 837,774 shares during the period. Goldman Sachs Group Inc. increased its position in Lionsgate Studios by 198.5% during the first quarter. Goldman Sachs Group Inc. now owns 414,795 shares of the company’s stock worth $3,099,000 after acquiring an additional 275,839 shares during the period. Alpine Global Management LLC increased its position in Lionsgate Studios by 570.9% during the first quarter. Alpine Global Management LLC now owns 221,753 shares of the company’s stock worth $1,656,000 after acquiring an additional 188,700 shares during the period. Finally, Jane Street Group LLC bought a new position in Lionsgate Studios during the first quarter worth $825,000.

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.