Lions Gate Entertainment Corp. (NYSE:LGF) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research note issued on Tuesday.

According to Zacks, “Lions Gate is quite confident about its robust performance in the second half of 2016 based on strong lineup of movies, consequently maintaining its fiscal 2017 adjusted EBITDA view. Moreover, in an effort to enhance its competitive position, maximize return and build a diversified portfolio, Lions Gate announced the acquisition of media and entertainment company Starz. After the completion of the deal, it anticipates over $200 million in annual cash savings. We believe that the addition of Starz will not only aid the company to become a major player in the TV space but will also help it to recover some of its lost ground in streaming network. On the other hand, the motion picture industry is highly competitive. Hence, Lions Gate has to continually strive to maintain their share of box office receipts. Moreover, the escalating cost of motion picture production and marketing in recent years may jeopardize Lions Gate’s margins.”

Several other research firms have also weighed in on LGF. Argus restated a “buy” rating and set a $34.00 target price on shares of Lions Gate Entertainment Corp. in a report on Thursday, August 18th. Stifel Nicolaus reiterated a “hold” rating on shares of Lions Gate Entertainment Corp. in a report on Monday, September 19th. Brean Capital set a $27.00 price objective on shares of Lions Gate Entertainment Corp. and gave the stock a “buy” rating in a report on Monday, September 19th. B. Riley reiterated a “buy” rating and issued a $34.00 price objective on shares of Lions Gate Entertainment Corp. in a report on Thursday, August 11th. Finally, Jefferies Group reiterated a “buy” rating on shares of Lions Gate Entertainment Corp. in a report on Monday, August 22nd. Four research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $28.11.

Analyst Recommendations for Lions Gate Entertainment Corp. (NYSE:LGF)

Lions Gate Entertainment Corp. (NYSE:LGF) opened at 22.87 on Tuesday. The firm’s 50 day moving average price is $20.29 and its 200 day moving average price is $20.67. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of 98.15 and a beta of 1.19. Lions Gate Entertainment Corp. has a one year low of $16.21 and a one year high of $41.41.

In related news, Director Arthur Evrensel acquired 2,600 shares of the company’s stock in a transaction on Monday, October 17th. The shares were purchased at an average price of $18.60 per share, for a total transaction of $48,360.00. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jon Feltheimer sold 255,718 shares of the company’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $20.25, for a total transaction of $5,178,289.50. The disclosure for this sale can be found here. Insiders own 30.40% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Tocqueville Asset Management L.P. bought a new position in Lions Gate Entertainment Corp. during the second quarter valued at $6,123,000. Concert Wealth Management Inc. raised its position in Lions Gate Entertainment Corp. by 4.9% in the second quarter. Concert Wealth Management Inc. now owns 10,699 shares of the company’s stock valued at $216,000 after buying an additional 496 shares in the last quarter. Gluskin Sheff & Assoc Inc. raised its position in Lions Gate Entertainment Corp. by 3.4% in the second quarter. Gluskin Sheff & Assoc Inc. now owns 27,636 shares of the company’s stock valued at $559,000 after buying an additional 901 shares in the last quarter. Whittier Trust Co. raised its position in Lions Gate Entertainment Corp. by 1.2% in the second quarter. Whittier Trust Co. now owns 36,072 shares of the company’s stock valued at $729,000 after buying an additional 431 shares in the last quarter. Finally, Eagle Asset Management Inc. raised its position in Lions Gate Entertainment Corp. by 14.9% in the second quarter. Eagle Asset Management Inc. now owns 680,625 shares of the company’s stock valued at $13,769,000 after buying an additional 88,396 shares in the last quarter. Hedge funds and other institutional investors own 95.89% of the company’s stock.

About Lions Gate Entertainment Corp.

Lions Gate Entertainment Corp. is engaged in motion picture production and distribution, television programming and syndication, home entertainment, international distribution and sales, branded channel platforms, interactive ventures and games and location-based entertainment. The Company operates through two segments: Motion Pictures and Television Production.

5 Day Chart for NYSE:LGF

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