Lionsgate Studios (NYSE:LION) Shares Gap Down – Should You Sell?

Lionsgate Studios Corp. (NYSE:LION)’s share price gapped down before the market opened on Friday. The stock had previously closed at $10.98, but opened at $10.59. Lionsgate Studios shares last traded at $10.75, with a volume of 379,798 shares changing hands.

Analyst Ratings Changes

LION has been the topic of several research analyst reports. Benchmark boosted their target price on shares of Lionsgate Studios from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. B. Riley Financial cut their target price on shares of Lionsgate Studios from $17.00 to $16.00 and set a “neutral” rating for the company in a research note on Monday, August 10th. Citizens Jmp initiated coverage on shares of Lionsgate Studios in a report on Monday, September 14th. They issued a “market outperform” rating and a $18.00 price target on the stock. Citigroup assumed coverage on shares of Lionsgate Studios in a research note on Monday, September 14th. They issued a “market outperform” rating on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Lionsgate Studios in a report on Friday, July 17th. Eight equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Lionsgate Studios currently has a consensus rating of “Moderate Buy” and a consensus price target of $15.16.

Lionsgate Studios Stock Performance

The stock’s fifty day moving average is $12.03 and its 200 day moving average is $12.32. The stock has a market cap of $3.16 billion, a P/E ratio of -25.31 and a beta of 0.66.

Lionsgate Studios (NYSE:LION) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.06 EPS for the quarter, topping the consensus estimate of ($0.08) by $0.14. The company had revenue of $776.60 million during the quarter, compared to analysts’ expectations of $703.10 million. Equities research analysts predict that Lionsgate Studios Corp. will post 0.04 EPS for the current year.

Hedge Funds Weigh In On Lionsgate Studios

Large investors have recently modified their holdings of the stock. Nykredit A S purchased a new position in Lionsgate Studios during the second quarter worth $49,000. Integrated Wealth Concepts LLC bought a new position in Lionsgate Studios during the second quarter valued at $118,000. Amundi purchased a new stake in shares of Lionsgate Studios in the second quarter valued at $169,000. Lido Advisors LLC purchased a new stake in shares of Lionsgate Studios in the first quarter valued at $112,000. Finally, Hsbc Holdings PLC bought a new stake in shares of Lionsgate Studios in the 2nd quarter worth about $180,000.

Lionsgate Studios Company Profile

Lionsgate Studios Corp. (NYSE:LION) is an entertainment company focused on the development, production and distribution of motion pictures and television programming. Its studio operations include theatrical films, television series, home entertainment and digital distribution, as well as the licensing and monetization of a broad content library.

The company owns or distributes well-known film franchises such as The Hunger Games, John Wick, Saw, Twilight and Now You See Me.