Lionsgate Studios (NYSE:LION) Announces Quarterly Earnings Results

Lionsgate Studios (NYSE:LION) released its quarterly earnings data on Thursday. The company reported ($0.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.14), Zacks reports.

Lionsgate Studios Stock Performance

NYSE LION traded down $0.13 during trading hours on Friday, reaching $6.90. The company’s stock had a trading volume of 2,600,162 shares, compared to its average volume of 2,446,866. The company’s 50-day moving average is $6.56 and its two-hundred day moving average is $6.62. Lionsgate Studios has a fifty-two week low of $5.55 and a fifty-two week high of $8.50. The stock has a market cap of $2.00 billion, a PE ratio of -10.30 and a beta of -0.12.

Institutional Trading of Lionsgate Studios

Large investors have recently modified their holdings of the business. 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 worth $14,877,000 after purchasing an additional 837,774 shares during the last quarter. Bank of America Corp DE grew its holdings in Lionsgate Studios by 4,609.5% during the 2nd quarter. Bank of America Corp DE now owns 1,103,709 shares of the company’s stock valued at $6,413,000 after buying an additional 1,080,273 shares during the last quarter. Invesco Ltd. acquired a new stake in Lionsgate Studios during the 2nd quarter valued at $3,980,000. JPMorgan Chase & Co. increased its position in Lionsgate Studios by 6,540.2% during the second quarter. JPMorgan Chase & Co. now owns 458,441 shares of the company’s stock worth $2,664,000 after buying an additional 451,537 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Lionsgate Studios by 198.5% in the first quarter. Goldman Sachs Group Inc. now owns 414,795 shares of the company’s stock worth $3,099,000 after acquiring an additional 275,839 shares during the last quarter.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on LION shares. Robert W. Baird began coverage on shares of Lionsgate Studios in a research note on Friday, September 5th. They set an “outperform” rating and a $8.00 price target on the stock. Wolfe Research initiated coverage on shares of Lionsgate Studios in a report on Tuesday, July 29th. They set a “peer perform” rating on the stock. Wells Fargo & Company began coverage on shares of Lionsgate Studios in a research report on Tuesday, August 5th. They set an “overweight” rating and a $9.00 target price on the stock. Zacks Research raised shares of Lionsgate Studios from a “strong sell” rating to a “hold” rating in a report on Tuesday, October 7th. Finally, Wall Street Zen downgraded shares of Lionsgate Studios from a “hold” rating to a “sell” rating in a research report on Sunday, August 10th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $8.73.

Lionsgate Studios Company Profile

Lionsgate Studios Corp. engages in the provision of motion picture and studio operations that bring a varied portfolio of entertainment to consumers. The company is headquartered in Santa Monica, CA.