Lionsgate Studios (NYSE:LION) Shares Gap Up – Time to Buy?

Lionsgate Studios Corp. (NYSE:LION)’s stock price gapped up prior to trading on Friday . The stock had previously closed at $7.10, but opened at $7.42. Lionsgate Studios shares last traded at $7.40, with a volume of 522,702 shares trading hands.

Analysts Set New Price Targets

Several research firms have recently commented on LION. Robert W. Baird initiated coverage on Lionsgate Studios in a research note on Friday, September 5th. They set an “outperform” rating and a $8.00 price target for the company. Baird R W upgraded shares of Lionsgate Studios to a “strong-buy” rating in a research report on Friday, September 5th. Barrington Research restated an “outperform” rating and issued a $8.50 target price on shares of Lionsgate Studios in a research note on Friday, November 7th. Benchmark lifted their target price on shares of Lionsgate Studios from $8.50 to $11.00 and gave the company a “buy” rating in a report on Monday, November 24th. Finally, Zacks Research cut shares of Lionsgate Studios from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 18th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, four have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $8.95.

Lionsgate Studios Stock Up 3.1%

The stock’s fifty day simple moving average is $6.65 and its 200-day simple moving average is $6.50. The company has a market capitalization of $2.12 billion, a PE ratio of -10.93 and a beta of -0.27.

Lionsgate Studios (NYSE:LION) last released its quarterly earnings data 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). Analysts expect that Lionsgate Studios Corp. will post 0.08 EPS for the current year.

Hedge Funds Weigh In On Lionsgate Studios

A number of institutional investors have recently made changes to their positions in the stock. Bessemer Group Inc. acquired a new position in Lionsgate Studios in the second quarter valued at $25,000. JTC Employer Solutions Trustee Ltd purchased a new stake in Lionsgate Studios in the 2nd quarter valued at about $26,000. Osaic Holdings Inc. increased its stake in shares of Lionsgate Studios by 4,852.0% during the 2nd quarter. Osaic Holdings Inc. now owns 4,952 shares of the company’s stock valued at $29,000 after acquiring an additional 4,852 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Lionsgate Studios during the 2nd quarter valued at about $31,000. Finally, CIBC Private Wealth Group LLC purchased a new position in shares of Lionsgate Studios during the 3rd quarter worth about $38,000.

Lionsgate Studios Company Profile

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.