Lionsgate Studios (NYSE:LION) Reaches New 52-Week High – Still a Buy?

Lionsgate Studios Corp. (NYSE:LION) shares reached a new 52-week high during trading on Tuesday . The stock traded as high as $9.46 and last traded at $9.43, with a volume of 4111492 shares traded. The stock had previously closed at $9.31.

Analysts Set New Price Targets

A number of equities analysts recently commented on LION shares. Robert W. Baird began coverage on Lionsgate Studios in a report on Friday, September 5th. They set an “outperform” rating and a $8.00 target price for the company. Wall Street Zen raised shares of Lionsgate Studios from a “sell” rating to a “hold” rating in a research report on Saturday, December 20th. Baird R W upgraded shares of Lionsgate Studios to a “strong-buy” rating in a report on Friday, September 5th. Zacks Research downgraded shares of Lionsgate Studios from a “hold” rating to a “strong sell” rating in a research note on Tuesday, November 18th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Lionsgate Studios in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $9.14.

Lionsgate Studios Stock Up 1.3%

The stock has a 50-day moving average price of $7.33 and a 200 day moving average price of $6.68. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of -14.07 and a beta of -0.27.

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

Insider Activity

In related news, insider Michael Raymond Burns sold 21,748 shares of the business’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $9.01, for a total transaction of $195,949.48. Following the completion of the transaction, the insider owned 3,061,213 shares in the company, valued at approximately $27,581,529.13. The trade was a 0.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 9.40% of the company’s stock.

Institutional Trading of Lionsgate Studios

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cresset Asset Management LLC lifted its stake in Lionsgate Studios by 2.9% during the third quarter. Cresset Asset Management LLC now owns 60,924 shares of the company’s stock worth $420,000 after purchasing an additional 1,743 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. raised its position in Lionsgate Studios by 11.4% in the 3rd quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 19,025 shares of the company’s stock valued at $131,000 after purchasing an additional 1,940 shares during the last quarter. Jane Street Group LLC boosted its stake in Lionsgate Studios by 3.1% during the 2nd quarter. Jane Street Group LLC now owns 113,934 shares of the company’s stock worth $662,000 after purchasing an additional 3,455 shares during the period. Bessemer Group Inc. purchased a new position in Lionsgate Studios during the 2nd quarter worth $25,000. Finally, JTC Employer Solutions Trustee Ltd purchased a new position in Lionsgate Studios during the 2nd quarter worth $26,000.

Lionsgate Studios Company Profile

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.