Lionsgate Studios (NYSE:LION) Shares Up 10.1% on Analyst Upgrade

Lionsgate Studios Corp. (NYSE:LION) shot up 10.1% on Friday after Robert W. Baird raised their price target on the stock from $12.00 to $14.00. Robert W. Baird currently has an outperform rating on the stock. Lionsgate Studios traded as high as $12.22 and last traded at $12.19. 4,967,841 shares changed hands during mid-day trading, an increase of 97% from the average session volume of 2,523,612 shares. The stock had previously closed at $11.07.

Several other analysts also recently weighed in on LION. Wells Fargo & Company boosted their target price on Lionsgate Studios from $9.00 to $12.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Zacks Research raised Lionsgate Studios from a “strong sell” rating to a “hold” rating in a report on Monday, January 5th. Barrington Research reissued an “outperform” rating and issued a $11.50 target price on shares of Lionsgate Studios in a report on Friday, February 6th. Morgan Stanley reaffirmed an “overweight” rating and issued a $11.00 target price on shares of Lionsgate Studios in a research note on Friday, February 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Lionsgate Studios in a report on Thursday, January 22nd. Eight research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $10.65.

Institutional Investors Weigh In On Lionsgate Studios

Hedge funds have recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd increased its holdings in shares of Lionsgate Studios by 201.3% in the third quarter. Y Intercept Hong Kong Ltd now owns 225,210 shares of the company’s stock valued at $1,554,000 after purchasing an additional 150,472 shares in the last quarter. Sequoia Financial Advisors LLC bought a new position in Lionsgate Studios in the third quarter valued at approximately $1,357,000. Harbor Capital Advisors Inc. bought a new position in Lionsgate Studios in the third quarter valued at approximately $2,749,000. Compass Rose Asset Management LP bought a new position in Lionsgate Studios in the third quarter valued at approximately $3,450,000. Finally, WINTON GROUP Ltd boosted its stake in Lionsgate Studios by 143.2% in the third quarter. WINTON GROUP Ltd now owns 220,100 shares of the company’s stock valued at $1,519,000 after acquiring an additional 129,611 shares during the last quarter.

Lionsgate Studios Price Performance

The stock has a market capitalization of $3.53 billion, a P/E ratio of -14.31 and a beta of -0.48. The business’s 50 day simple moving average is $9.48 and its 200-day simple moving average is $8.33.

Lionsgate Studios (NYSE:LION) last announced its quarterly earnings data on Thursday, February 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). The business had revenue of $724.30 million for the quarter, compared to analysts’ expectations of $706.03 million. Research analysts anticipate that Lionsgate Studios Corp. will post 0.08 earnings per share for the current fiscal year.

Lionsgate Studios Company Profile

Lionsgate Studios, operating under the ticker NYSE:LION, is a leading global entertainment company specializing in the production, acquisition and distribution of motion pictures, television programming and digital content. Headquartered in Santa Monica, California, and with additional operations in Vancouver, the company develops, finances and markets feature films that span a wide range of genres—from major franchise hits like The Hunger Games and John Wick to independent and specialty titles.