Lionsgate Studios (NYSE:LION) Now Covered by Benchmark

Analysts at Benchmark initiated coverage on shares of Lionsgate Studios (NYSE:LION) in a research report issued to clients and investors on Monday, MarketBeat reports. The firm set a “buy” rating and a $8.50 price target on the stock. Benchmark’s target price indicates a potential upside of 29.38% from the company’s previous close.

LION has been the topic of several other research reports. Raymond James Financial started coverage on shares of Lionsgate Studios in a research note on Tuesday, May 20th. They issued an “outperform” rating and a $10.00 target price on the stock. Rosenblatt Securities lowered their price objective on shares of Lionsgate Studios from $13.00 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday, June 4th. Morgan Stanley dropped their target price on shares of Lionsgate Studios from $8.50 to $8.00 and set an “overweight” rating on the stock in a report on Tuesday, May 27th. Wall Street Zen upgraded shares of Lionsgate Studios from a “hold” rating to a “buy” rating in a report on Friday, May 2nd. Finally, JPMorgan Chase & Co. upgraded shares of Lionsgate Studios from an “underweight” rating to a “neutral” rating and raised their target price for the stock from $8.00 to $9.00 in a report on Monday, March 31st. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Lionsgate Studios presently has a consensus rating of “Moderate Buy” and an average price target of $8.81.

Lionsgate Studios Stock Performance

Shares of NYSE LION opened at $6.57 on Monday. The firm’s 50 day moving average price is $6.36 and its 200-day moving average price is $7.82. The company has a market cap of $1.90 billion, a PE ratio of -15.28 and a beta of -0.27. Lionsgate Studios has a 52-week low of $5.55 and a 52-week high of $8.50.

Lionsgate Studios (NYSE:LION) last issued its earnings results 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 analysts’ expectations of $1.19 billion. On average, analysts forecast that Lionsgate Studios will post 0.08 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lionsgate Studios news, major shareholder Liberty 77 Capital L.P. purchased 500,000 shares of the firm’s stock in a transaction on Monday, July 7th. The shares were acquired at an average cost of $5.63 per share, for a total transaction of $2,815,000.00. Following the completion of the transaction, the insider owned 37,476,036 shares of the company’s stock, valued at approximately $210,990,082.68. The trade was a 1.35% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have purchased 1,559,489 shares of company stock valued at $8,950,186 in the last 90 days.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. CWM LLC bought a new position in Lionsgate Studios in the second quarter worth approximately $44,000. Investors Research Corp bought a new position in Lionsgate Studios in the second quarter worth approximately $47,000. Nexpoint Asset Management L.P. raised its position in shares of Lionsgate Studios by 11.8% during the 1st quarter. Nexpoint Asset Management L.P. now owns 88,370 shares of the company’s stock valued at $660,000 after purchasing an additional 9,300 shares during the period. Trexquant Investment LP bought a new stake in shares of Lionsgate Studios during the 1st quarter valued at $81,000. Finally, 111 Capital bought a new stake in shares of Lionsgate Studios during the 2nd quarter valued at $66,000.

About Lionsgate Studios

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.