Lionsgate Entertainment (NYSE:LION) Shares Gap Up – What’s Next?

Lionsgate Entertainment Corp. (NYSE:LION) gapped up prior to trading on Tuesday . The stock had previously closed at $6.50, but opened at $6.69. Lionsgate Entertainment shares last traded at $6.66, with a volume of 263,867 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Morgan Stanley reduced their price objective on Lionsgate Entertainment from $8.50 to $8.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 27th. Raymond James assumed coverage on Lionsgate Entertainment in a research note on Tuesday, May 20th. They issued an “outperform” rating and a $10.00 price objective on the stock. TD Cowen assumed coverage on Lionsgate Entertainment in a research note on Tuesday, June 3rd. They issued a “hold” rating and a $8.00 price objective on the stock. Loop Capital assumed coverage on Lionsgate Entertainment in a research note on Wednesday, June 4th. They issued a “hold” rating and a $8.00 price objective on the stock. Finally, Wall Street Zen raised Lionsgate Entertainment from a “hold” rating to a “buy” rating in a research report on Friday, May 2nd. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $8.86.

Lionsgate Entertainment Trading Up 0.6%

The firm has a 50-day moving average of $7.51 and a 200 day moving average of $8.29. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of -5.41, a price-to-earnings-growth ratio of 13.47 and a beta of 1.07.

Lionsgate Entertainment (NYSE:LION) last announced its earnings results on Thursday, May 22nd. The company reported $0.17 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.33). Lionsgate Entertainment had a negative net margin of 7.34% and a negative return on equity of 57.26%. The business had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.19 billion. As a group, research analysts forecast that Lionsgate Entertainment Corp. will post 0.08 EPS for the current year.

Hedge Funds Weigh In On Lionsgate Entertainment

A number of institutional investors have recently made changes to their positions in the business. Trexquant Investment LP bought a new stake in shares of Lionsgate Entertainment in the 1st quarter valued at approximately $81,000. EntryPoint Capital LLC increased its holdings in shares of Lionsgate Entertainment by 60.9% in the 1st quarter. EntryPoint Capital LLC now owns 36,754 shares of the company’s stock valued at $275,000 after acquiring an additional 13,910 shares during the last quarter. OMERS ADMINISTRATION Corp increased its holdings in shares of Lionsgate Entertainment by 32.8% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 80,000 shares of the company’s stock valued at $598,000 after acquiring an additional 19,740 shares during the last quarter. Nexpoint Asset Management L.P. increased its holdings in shares of Lionsgate Entertainment by 11.8% in the 1st quarter. Nexpoint Asset Management L.P. now owns 88,370 shares of the company’s stock valued at $660,000 after acquiring an additional 9,300 shares during the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Lionsgate Entertainment in the 1st quarter valued at approximately $825,000. 34.05% of the stock is owned by institutional investors and hedge funds.

Lionsgate Entertainment 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.