Lionsgate Studios (NYSE:LION) Trading Down 7.2% – Here’s What Happened

Lionsgate Studios Corp. (NYSE:LION) traded down 7.2% on Tuesday . The company traded as low as $11.54 and last traded at $11.55. 3,589,611 shares were traded during mid-day trading, an increase of 34% from the average session volume of 2,673,911 shares. The stock had previously closed at $12.45.

Analyst Ratings Changes

LION has been the topic of several research analyst reports. Benchmark increased their price target on shares of Lionsgate Studios from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, February 3rd. Wall Street Zen upgraded shares of Lionsgate Studios from a “sell” rating to a “hold” rating in a research report on Saturday. Wells Fargo & Company upped their price objective on Lionsgate Studios from $9.00 to $12.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Robert W. Baird increased their price objective on Lionsgate Studios from $12.00 to $14.00 and gave the company an “outperform” rating in a research report on Thursday, April 16th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Lionsgate Studios in a research note on Thursday, January 22nd. Seven research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $10.81.

Lionsgate Studios Stock Down 7.0%

The company’s fifty day moving average is $9.62 and its two-hundred day moving average is $8.43. The firm has a market capitalization of $3.36 billion, a price-to-earnings ratio of -13.62 and a beta of -0.48.

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. On average, equities research analysts expect that Lionsgate Studios Corp. will post -0.54 EPS for the current year.

Institutional Investors Weigh In On Lionsgate Studios

A number of institutional investors have recently made changes to their positions in the stock. Osaic Holdings Inc. increased its holdings in Lionsgate Studios by 4,852.0% in the second quarter. Osaic Holdings Inc. now owns 4,952 shares of the company’s stock valued at $29,000 after purchasing an additional 4,852 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Lionsgate Studios by 99.3% during the fourth quarter. GAMMA Investing LLC now owns 3,559 shares of the company’s stock worth $32,000 after buying an additional 1,773 shares during the last quarter. CIBC Private Wealth Group LLC bought a new position in Lionsgate Studios during the third quarter worth about $38,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Lionsgate Studios during the 4th quarter worth about $44,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in shares of Lionsgate Studios in the 4th quarter valued at about $55,000.

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.