Lionsgate Studios (NYSE:LION) Announces Earnings Results

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

Lionsgate Studios Stock Down 1.8%

Shares of 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 has a 50 day moving average of $6.56 and a two-hundred day moving average of $6.62. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of -10.30 and a beta of -0.12. Lionsgate Studios has a 1-year low of $5.55 and a 1-year high of $8.50.

Analyst Upgrades and Downgrades

Several analysts recently commented on LION shares. Zacks Research raised shares of Lionsgate Studios from a “strong sell” rating to a “hold” rating in a research note on Tuesday, October 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of Lionsgate Studios in a research note on Wednesday, October 8th. Robert W. Baird assumed coverage on Lionsgate Studios in a report on Friday, September 5th. They issued an “outperform” rating and a $8.00 target price on the stock. Wells Fargo & Company started coverage on Lionsgate Studios in a report on Tuesday, August 5th. They set an “overweight” rating and a $9.00 target price for the company. Finally, Baird R W raised Lionsgate Studios to a “strong-buy” rating in a research note on Friday, September 5th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $8.73.

Institutional Investors Weigh In On Lionsgate Studios

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its holdings in Lionsgate Studios by 72.6% in the 1st quarter. Millennium Management LLC now owns 1,991,515 shares of the company’s stock valued at $14,877,000 after purchasing an additional 837,774 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Lionsgate Studios by 198.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 414,795 shares of the company’s stock worth $3,099,000 after purchasing an additional 275,839 shares during the period. Jane Street Group LLC acquired a new position in shares of Lionsgate Studios during the first quarter valued at about $825,000. Envestnet Asset Management Inc. bought a new stake in shares of Lionsgate Studios in the second quarter valued at about $77,000. Finally, Creative Planning acquired a new stake in Lionsgate Studios during the second quarter worth about $117,000.

About Lionsgate Studios

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.