Citigroup Forecasts Strong Price Appreciation for Lionsgate Studios (NYSE:LION) Stock

Lionsgate Studios (NYSE:LION) had its target price hoisted by stock analysts at Citigroup from $9.00 to $11.00 in a report released on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price indicates a potential upside of 16.03% from the company’s current price.

A number of other equities research analysts have also weighed in on LION. Weiss Ratings reissued a “sell (d-)” rating on shares of Lionsgate Studios in a report on Thursday, January 22nd. Benchmark lifted their price target on Lionsgate Studios from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, February 3rd. Wall Street Zen downgraded Lionsgate Studios from a “hold” rating to a “sell” rating in a research note on Saturday, February 14th. Morgan Stanley reissued an “overweight” rating and issued a $11.00 price objective on shares of Lionsgate Studios in a report on Friday, February 6th. Finally, Wells Fargo & Company raised their price objective on Lionsgate Studios from $9.00 to $12.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $9.95.

Lionsgate Studios Stock Up 2.8%

Shares of LION traded up $0.26 during mid-day trading on Monday, hitting $9.48. 320,105 shares of the company traded hands, compared to its average volume of 2,595,082. The company has a market capitalization of $2.75 billion, a PE ratio of -11.15 and a beta of -0.39. The business has a 50 day moving average of $9.21 and a 200 day moving average of $7.93. Lionsgate Studios has a 1-year low of $5.55 and a 1-year high of $11.02.

Lionsgate Studios (NYSE:LION) last released its earnings results on Thursday, February 5th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.02) by ($0.05). The business had revenue of $724.30 million for the quarter, compared to the consensus estimate of $706.03 million. As a group, research analysts expect that Lionsgate Studios will post 0.08 EPS for the current fiscal year.

Insider Transactions at Lionsgate Studios

In other Lionsgate Studios news, insider Michael Raymond Burns sold 21,748 shares of the company’s stock in a transaction on Tuesday, December 23rd. The shares were sold at an average price of $9.01, for a total value of $195,949.48. Following the sale, the insider directly owned 3,061,213 shares of the company’s stock, valued at approximately $27,581,529.13. This represents a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 32.10% of the stock is owned by corporate insiders.

Institutional Trading of Lionsgate Studios

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Jericho Capital Asset Management L.P. purchased a new position in Lionsgate Studios during the fourth quarter valued at approximately $51,119,000. Jefferies Financial Group Inc. boosted its position in Lionsgate Studios by 251.0% in the 2nd quarter. Jefferies Financial Group Inc. now owns 5,805,850 shares of the company’s stock worth $33,732,000 after purchasing an additional 4,151,822 shares in the last quarter. Geode Capital Management LLC boosted its position in Lionsgate Studios by 658.6% in the 2nd quarter. Geode Capital Management LLC now owns 4,740,225 shares of the company’s stock worth $27,547,000 after purchasing an additional 4,115,334 shares in the last quarter. Anson Funds Management LP grew its stake in shares of Lionsgate Studios by 36.3% during the 4th quarter. Anson Funds Management LP now owns 9,556,948 shares of the company’s stock worth $87,255,000 after purchasing an additional 2,543,352 shares during the period. Finally, Marshall Wace LLP increased its holdings in shares of Lionsgate Studios by 273.4% during the 4th quarter. Marshall Wace LLP now owns 2,331,777 shares of the company’s stock valued at $21,289,000 after purchasing an additional 1,707,282 shares in the last quarter.

About Lionsgate Studios

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.