Michael Raymond Burns Sells 21,748 Shares of Lionsgate Studios (NYSE:LION) Stock

Lionsgate Studios Corp. (NYSE:LION) insider Michael Raymond Burns sold 21,748 shares of the firm’s stock in a transaction that occurred on Tuesday, December 23rd. The stock was sold at an average price of $9.01, for a total value of $195,949.48. Following the transaction, the insider owned 3,061,213 shares in the company, valued at approximately $27,581,529.13. The trade was a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Lionsgate Studios Price Performance

LION traded up $0.12 during trading on Monday, hitting $9.43. 4,111,492 shares of the stock traded hands, compared to its average volume of 2,492,309. The firm has a 50-day moving average of $7.26 and a 200 day moving average of $6.66. Lionsgate Studios Corp. has a 12-month low of $5.55 and a 12-month high of $9.46. The firm has a market capitalization of $2.73 billion, a P/E ratio of -14.07 and a beta of -0.28.

Lionsgate Studios (NYSE:LION) last announced its earnings results on Thursday, November 6th. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.14). As a group, equities analysts predict that Lionsgate Studios Corp. will post 0.08 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

LION has been the topic of several recent analyst reports. Baird R W upgraded Lionsgate Studios to a “strong-buy” rating in a research report on Friday, September 5th. Benchmark increased their price target on Lionsgate Studios from $8.50 to $11.00 and gave the company a “buy” rating in a research note on Monday, November 24th. Robert W. Baird assumed coverage on Lionsgate Studios in a research note on Friday, September 5th. They issued an “outperform” rating and a $8.00 price objective on the stock. Wall Street Zen raised Lionsgate Studios from a “sell” rating to a “hold” rating in a report on Saturday, December 20th. Finally, Barrington Research reissued an “outperform” rating and issued a $8.50 target price on shares of Lionsgate Studios in a report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, Lionsgate Studios currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.14.

Institutional Trading of Lionsgate Studios

Several institutional investors and hedge funds have recently made changes to their positions in LION. CIBC Private Wealth Group LLC bought a new position in shares of Lionsgate Studios in the 3rd quarter worth $38,000. CIBC Bancorp USA Inc. purchased a new position in Lionsgate Studios in the third quarter valued at about $151,000. Alpine Global Management LLC grew its stake in Lionsgate Studios by 21.3% in the third quarter. Alpine Global Management LLC now owns 458,578 shares of the company’s stock valued at $3,164,000 after purchasing an additional 80,525 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in Lionsgate Studios in the third quarter worth about $168,000. Finally, Dark Forest Capital Management LP purchased a new stake in shares of Lionsgate Studios during the third quarter valued at about $1,381,000.

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.