Lionsgate Studios (NYSE:LION) Releases Earnings Results, Misses Estimates By $0.05 EPS

Lionsgate Studios (NYSE:LION) posted its earnings results on Thursday. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.05), Zacks reports.

Lionsgate Studios Stock Performance

Lionsgate Studios stock traded down $0.03 during mid-day trading on Thursday, hitting $8.85. The company’s stock had a trading volume of 2,771,843 shares, compared to its average volume of 2,563,438. The stock has a market cap of $2.56 billion, a PE ratio of -13.21 and a beta of -0.48. The company has a 50 day moving average of $8.71 and a 200-day moving average of $7.28. Lionsgate Studios has a one year low of $5.55 and a one year high of $10.09.

Insiders Place Their Bets

In other news, insider Michael Raymond Burns sold 21,748 shares of the stock in a transaction on Tuesday, December 23rd. The stock was sold at an average price of $9.01, for a total transaction of $195,949.48. Following the completion of the sale, the insider owned 3,061,213 shares in the company, valued at approximately $27,581,529.13. This represents a 0.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 9.40% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Lionsgate Studios

Hedge funds have recently made changes to their positions in the company. Millennium Management LLC raised its position in shares of Lionsgate Studios by 72.6% during the 1st quarter. Millennium Management LLC now owns 1,991,515 shares of the company’s stock valued at $14,877,000 after buying an additional 837,774 shares during the period. Goldman Sachs Group Inc. lifted its position in Lionsgate Studios by 198.5% in the first quarter. Goldman Sachs Group Inc. now owns 414,795 shares of the company’s stock valued at $3,099,000 after acquiring an additional 275,839 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Lionsgate Studios in the 1st quarter valued at $825,000. Envestnet Asset Management Inc. acquired a new position in shares of Lionsgate Studios in the second quarter valued at approximately $77,000. Finally, Creative Planning purchased a new position in shares of Lionsgate Studios during the 2nd quarter worth approximately $117,000.

Analyst Upgrades and Downgrades

LION has been the subject of several recent analyst reports. Wells Fargo & Company increased their price objective on shares of Lionsgate Studios from $9.00 to $12.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Morgan Stanley reiterated an “overweight” rating and issued a $10.00 target price on shares of Lionsgate Studios in a report on Thursday, December 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lionsgate Studios in a research report on Thursday, January 22nd. Zacks Research upgraded shares of Lionsgate Studios from a “strong sell” rating to a “hold” rating in a research report on Monday, January 5th. Finally, Benchmark increased their price objective on Lionsgate Studios from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Lionsgate Studios currently has a consensus rating of “Moderate Buy” and an average target price of $9.50.

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.