Lions Gate Entertainment Corp. (LGF) Sees Large Volume Increase
Lions Gate Entertainment Corp. (NYSE:LGF) saw unusually-high trading volume on Monday . Approximately 2,178,777 shares traded hands during trading, an increase of 5% from the previous session’s volume of 2,070,687 shares.The stock last traded at $20.67 and had previously closed at $21.59.
LGF has been the topic of a number of analyst reports. B. Riley reaffirmed a “buy” rating and set a $34.00 target price on shares of Lions Gate Entertainment Corp. in a research report on Saturday, August 6th. FBR & Co dropped their target price on Lions Gate Entertainment Corp. from $32.00 to $30.00 and set an “outperform” rating on the stock in a research report on Monday, August 8th. Brean Capital set a $27.00 target price on Lions Gate Entertainment Corp. and gave the stock a “buy” rating in a research report on Monday. Zacks Investment Research raised Lions Gate Entertainment Corp. from a “sell” rating to a “hold” rating in a research report on Thursday, August 4th. Finally, Argus reaffirmed a “buy” rating on shares of Lions Gate Entertainment Corp. in a research report on Saturday, July 9th. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $29.96.
The firm has a 50 day moving average price of $20.78 and a 200-day moving average price of $21.00. The stock has a market capitalization of $3.04 billion, a PE ratio of 290.28 and a beta of 1.19.
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Lions Gate Entertainment Corp. (NYSE:LGF) last posted its quarterly earnings results on Thursday, August 4th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.36. Lions Gate Entertainment Corp. had a net margin of 0.43% and a return on equity of 5.81%. The firm earned $553.60 million during the quarter, compared to analyst estimates of $494.34 million. During the same quarter in the prior year, the business posted $0.31 earnings per share. The company’s quarterly revenue was up 35.4% compared to the same quarter last year. Analysts predict that Lions Gate Entertainment Corp. will post $0.39 EPS for the current fiscal year.
In other news, CEO Jon Feltheimer sold 255,718 shares of the firm’s stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $20.25, for a total transaction of $5,178,289.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gordon Crawford acquired 50,000 shares of the company’s stock in a transaction dated Tuesday, August 9th. The shares were purchased at an average cost of $21.70 per share, with a total value of $1,085,000.00. The disclosure for this purchase can be found here. 30.40% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the company. GW&K Investment Management LLC raised its stake in Lions Gate Entertainment Corp. by 77.3% in the first quarter. GW&K Investment Management LLC now owns 631,119 shares of the company’s stock valued at $13,790,000 after buying an additional 275,129 shares during the last quarter. Teachers Advisors Inc. boosted its stake in Lions Gate Entertainment Corp. by 13.4% in the first quarter. Teachers Advisors Inc. now owns 596,815 shares of the company’s stock valued at $13,040,000 after buying an additional 70,742 shares during the period. Aston Asset Management LLC bought a new stake in Lions Gate Entertainment Corp. during the first quarter valued at approximately $1,351,000. BlackRock Inc. boosted its stake in Lions Gate Entertainment Corp. by 120.9% in the first quarter. BlackRock Inc. now owns 13,279 shares of the company’s stock valued at $290,000 after buying an additional 7,268 shares during the period. Finally, BlackRock Group LTD boosted its stake in Lions Gate Entertainment Corp. by 274.7% in the first quarter. BlackRock Group LTD now owns 199,790 shares of the company’s stock valued at $4,365,000 after buying an additional 146,472 shares during the period. 96.00% of the stock is owned by institutional investors.
Lions Gate Entertainment Corp. Company Profile
Lions Gate Entertainment Corp. is engaged in motion picture production and distribution, television programming and syndication, home entertainment, digital distribution, channel platforms and international distribution and sales. The Company operates through two segments: Motion Pictures and Television Production.
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