Lionsgate Entertainment (NYSE:LION) Hits New 52-Week Low – Should You Sell?

Lionsgate Entertainment Corp. (NYSE:LION) hit a new 52-week low during mid-day trading on Friday . The stock traded as low as $6.40 and last traded at $6.46, with a volume of 4868686 shares. The stock had previously closed at $6.70.

Analyst Ratings Changes

Several brokerages recently issued reports on LION. TD Cowen began coverage on Lionsgate Entertainment in a report on Tuesday, June 3rd. They issued a “hold” rating and a $8.00 price target on the stock. Rosenblatt Securities lowered their target price on Lionsgate Entertainment from $13.00 to $9.00 and set a “buy” rating on the stock in a research report on Wednesday. Morgan Stanley lowered their target price on Lionsgate Entertainment from $8.50 to $8.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 27th. Loop Capital assumed coverage on Lionsgate Entertainment in a research report on Wednesday. They issued a “hold” rating and a $8.00 target price on the stock. Finally, Citigroup lowered their target price on Lionsgate Entertainment from $13.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, May 29th. Four investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Lionsgate Entertainment has a consensus rating of “Moderate Buy” and an average target price of $8.86.

Lionsgate Entertainment Stock Performance

The firm has a market capitalization of $1.86 billion, a P/E ratio of -5.21, a price-to-earnings-growth ratio of 13.47 and a beta of 1.07. The firm has a 50 day moving average price of $7.60 and a two-hundred day moving average price of $8.33.

Lionsgate Entertainment (NYSE:LION) last released its quarterly earnings data on Thursday, May 22nd. The company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.33). The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.19 billion. Lionsgate Entertainment had a negative return on equity of 57.26% and a negative net margin of 7.34%. Equities research analysts forecast that Lionsgate Entertainment Corp. will post 0.08 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Lionsgate Entertainment

Several large investors have recently modified their holdings of LION. Millennium Management LLC boosted its position in shares of Lionsgate Entertainment by 72.6% in the first quarter. Millennium Management LLC now owns 1,991,515 shares of the company’s stock worth $14,877,000 after buying an additional 837,774 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Lionsgate Entertainment by 198.5% in the first quarter. Goldman Sachs Group Inc. now owns 414,795 shares of the company’s stock worth $3,099,000 after buying an additional 275,839 shares during the period. Jane Street Group LLC acquired a new stake in shares of Lionsgate Entertainment in the first quarter worth $825,000. Trexquant Investment LP acquired a new stake in shares of Lionsgate Entertainment in the first quarter worth $81,000. Finally, Nexpoint Asset Management L.P. boosted its position in shares of Lionsgate Entertainment by 11.8% in the first quarter. Nexpoint Asset Management L.P. now owns 88,370 shares of the company’s stock worth $660,000 after buying an additional 9,300 shares during the period. 34.05% of the stock is owned by institutional investors.

About Lionsgate Entertainment

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.