Lionsgate Studios (NYSE:LION) Hits New 52-Week High – Time to Buy?

Lionsgate Studios Corp. (NYSE:LION) hit a new 52-week high on Thursday . The company traded as high as $12.94 and last traded at $12.76, with a volume of 3142987 shares changing hands. The stock had previously closed at $12.60.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on LION shares. Wall Street Zen cut shares of Lionsgate Studios from a “hold” rating to a “sell” rating in a research note on Sunday, April 26th. Wells Fargo & Company increased their target price on shares of Lionsgate Studios from $9.00 to $12.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Barrington Research raised their target price on shares of Lionsgate Studios from $11.50 to $14.50 and gave the stock an “outperform” rating in a report on Tuesday, April 28th. Morgan Stanley lifted their price target on shares of Lionsgate Studios from $11.00 to $14.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Finally, Citigroup cut Lionsgate Studios from a “buy” rating to a “neutral” rating and upped their price target for the company from $11.00 to $12.60 in a report on Monday, April 20th. Seven analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $11.91.

Lionsgate Studios Stock Performance

The stock has a 50 day moving average of $10.32 and a two-hundred day moving average of $8.84. The stock has a market cap of $3.70 billion, a PE ratio of -15.01 and a beta of 0.56.

Lionsgate Studios (NYSE:LION) last posted its quarterly earnings data on Thursday, February 5th. The company reported ($0.07) 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 the consensus estimate of $706.03 million. Analysts expect that Lionsgate Studios Corp. will post -0.53 EPS for the current fiscal year.

Institutional Investors Weigh In On Lionsgate Studios

Several hedge funds have recently made changes to their positions in LION. New York State Common Retirement Fund boosted its stake in Lionsgate Studios by 2.3% in the 4th quarter. New York State Common Retirement Fund now owns 53,587 shares of the company’s stock worth $489,000 after purchasing an additional 1,200 shares during the period. Cresset Asset Management LLC raised its stake in Lionsgate Studios by 2.9% during the 3rd quarter. Cresset Asset Management LLC now owns 60,924 shares of the company’s stock valued at $420,000 after purchasing an additional 1,743 shares during the period. GAMMA Investing LLC raised its stake in Lionsgate Studios by 99.3% during the 4th quarter. GAMMA Investing LLC now owns 3,559 shares of the company’s stock valued at $32,000 after purchasing an additional 1,773 shares during the period. GABELLI & Co INVESTMENT ADVISERS INC. lifted its holdings in shares of Lionsgate Studios by 10.0% in the fourth quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 20,925 shares of the company’s stock valued at $191,000 after purchasing an additional 1,900 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of Lionsgate Studios by 6.9% in the fourth quarter. ProShare Advisors LLC now owns 37,454 shares of the company’s stock valued at $342,000 after purchasing an additional 2,410 shares in the last quarter.

About Lionsgate Studios

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.