Lionsgate Studios (NYSE:LION) Trading 8.4% Higher – Still a Buy?

Lionsgate Studios Corp. (NYSE:LION) traded up 8.4% on Tuesday . The stock traded as high as $15.80 and last traded at $15.58. 1,463,067 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 3,020,715 shares. The stock had previously closed at $14.37.

More Lionsgate Studios News

Here are the key news stories impacting Lionsgate Studios this week:

• Positive Sentiment: Robert W. Baird raised its price target on Lionsgate Studios to $20 from $18 and kept an outperform rating, signaling continued analyst confidence in upside from current levels. Benzinga
• Positive Sentiment: Shares surged on takeover chatter after reports suggested Netflix was considering a bid, and the stock also hit a new 52-week high as investors rushed into the name. Benzinga
• Neutral Sentiment: The move also triggered unusually heavy call-option buying, showing strong speculative interest but not a fundamental change in the business outlook.
• Negative Sentiment: Netflix publicly denied acquisition interest, removing the main catalyst behind the recent rally and prompting a pullback in Lionsgate Studios shares. MSN

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Seaport Research Partners reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Lionsgate Studios in a research note on Friday, May 22nd. Raymond James Financial reaffirmed an “outperform” rating and issued a $15.00 price objective on shares of Lionsgate Studios in a research note on Friday, May 22nd. Morgan Stanley raised their price objective on Lionsgate Studios from $11.00 to $14.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Robert W. Baird raised their price objective on Lionsgate Studios from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Wall Street Zen downgraded Lionsgate Studios from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Six research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $15.37.

Lionsgate Studios Price Performance

The firm has a 50-day simple moving average of $12.76 and a two-hundred day simple moving average of $10.31. The company has a market cap of $4.42 billion, a PE ratio of -21.12 and a beta of 0.69.

Institutional Investors Weigh In On Lionsgate Studios

Hedge funds and other institutional investors have recently made changes to their positions in the business. Osaic Holdings Inc. grew its position in shares of Lionsgate Studios by 4,852.0% in the second quarter. Osaic Holdings Inc. now owns 4,952 shares of the company’s stock valued at $29,000 after purchasing an additional 4,852 shares during the period. GAMMA Investing LLC grew its position in shares of Lionsgate Studios by 99.3% in the fourth quarter. GAMMA Investing LLC now owns 3,559 shares of the company’s stock valued at $32,000 after purchasing an additional 1,773 shares during the period. CIBC Private Wealth Group LLC purchased a new stake in shares of Lionsgate Studios in the third quarter valued at $38,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Lionsgate Studios in the fourth quarter valued at $44,000. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Lionsgate Studios in the fourth quarter valued at $55,000.

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.