Lionsgate Studios (NYSE:LION) Given New $16.00 Price Target at B. Riley Financial

Lionsgate Studios (NYSE:LION) had its price target cut by B. Riley Financial from $17.00 to $16.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “neutral” rating on the stock. B. Riley Financial’s price objective would suggest a potential upside of 26.98% from the stock’s previous close.

Several other equities analysts have also recently commented on LION. Morgan Stanley reaffirmed an “overweight” rating and set a $15.00 price objective on shares of Lionsgate Studios in a research note on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Lionsgate Studios in a research report on Friday, July 17th. Citigroup cut Lionsgate Studios from a “buy” rating to a “neutral” rating and raised their price target for the company from $11.00 to $12.60 in a report on Monday, April 20th. Zacks Research downgraded shares of Lionsgate Studios from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, July 22nd. Finally, Seaport Research Partners reissued a “buy” rating and issued a $17.00 price target on shares of Lionsgate Studios in a research note on Friday. Six research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $15.57.

Lionsgate Studios Stock Down 2.9%

LION traded down $0.37 during trading on Monday, reaching $12.60. 884,253 shares of the company were exchanged, compared to its average volume of 3,061,973. Lionsgate Studios has a 12-month low of $5.88 and a 12-month high of $16.70. The company’s 50-day moving average is $14.05 and its two-hundred day moving average is $11.75. The company has a market cap of $3.75 billion, a price-to-earnings ratio of -30.00 and a beta of 0.72.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of LION. BlackRock Inc. purchased a new stake in Lionsgate Studios in the second quarter worth about $251,521,000. Jericho Capital Asset Management L.P. bought a new stake in shares of Lionsgate Studios during the fourth quarter valued at approximately $51,119,000. Cooper Creek Partners Management LLC purchased a new stake in Lionsgate Studios in the first quarter worth $43,715,000. Anson Funds Management LP raised its holdings in Lionsgate Studios by 36.3% in the fourth 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 in the last quarter. Finally, Marshall Wace LLP raised its holdings in Lionsgate Studios by 273.4% in the fourth quarter. Marshall Wace LLP now owns 2,331,777 shares of the company’s stock worth $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.