Lionsgate Studios (NYSE:LION) Downgraded by Zacks Research to Strong Sell

Lionsgate Studios (NYSE:LION) was downgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Several other brokerages also recently weighed in on LION. Robert W. Baird started coverage on Lionsgate Studios in a research note on Friday, September 5th. They set an “outperform” rating and a $8.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Lionsgate Studios in a research report on Wednesday, October 8th. Wolfe Research initiated coverage on shares of Lionsgate Studios in a research note on Tuesday, July 29th. They set a “peer perform” rating for the company. Benchmark initiated coverage on shares of Lionsgate Studios in a research report on Monday, July 28th. They issued a “buy” rating and a $8.50 price target on the stock. Finally, Baird R W upgraded shares of Lionsgate Studios to a “strong-buy” rating in a research note on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, four have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Lionsgate Studios presently has a consensus rating of “Moderate Buy” and an average price target of $8.73.

Lionsgate Studios Stock Performance

NYSE:LION opened at $6.86 on Tuesday. The company has a market capitalization of $1.99 billion, a P/E ratio of -10.24 and a beta of -0.12. The stock’s 50 day moving average price is $6.62 and its 200 day moving average price is $6.52. Lionsgate Studios has a 52 week low of $5.55 and a 52 week high of $8.50.

Lionsgate Studios (NYSE:LION) last posted its earnings results on Thursday, November 6th. The company reported ($0.27) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.14). As a group, sell-side analysts forecast that Lionsgate Studios will post 0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lionsgate Studios

Several institutional investors and hedge funds have recently made changes to their positions in the company. Liberty 77 Capital L.P. bought a new position in Lionsgate Studios during the 2nd quarter valued at about $214,831,000. Jefferies Financial Group Inc. increased its holdings in shares of Lionsgate Studios by 251.0% during the second quarter. Jefferies Financial Group Inc. now owns 5,805,850 shares of the company’s stock worth $33,732,000 after buying an additional 4,151,822 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Lionsgate Studios by 658.6% in the second quarter. Geode Capital Management LLC now owns 4,740,225 shares of the company’s stock valued at $27,547,000 after acquiring an additional 4,115,334 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Lionsgate Studios by 3,352.1% in the second quarter. Marshall Wace LLP now owns 1,753,646 shares of the company’s stock valued at $10,189,000 after acquiring an additional 1,702,846 shares during the last quarter. Finally, Ratan Capital Management LP bought a new stake in Lionsgate Studios during the 3rd quarter worth approximately $9,142,000.

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.