Insider Buying: Lions Gate Entertainment Corp. (LGF) Director Buys 2,600 Shares of Stock
Lions Gate Entertainment Corp. (NYSE:LGF) Director Arthur Evrensel acquired 2,600 shares of the stock in a transaction dated Monday, October 17th. The stock was acquired at an average price of $18.60 per share, for a total transaction of $48,360.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Lions Gate Entertainment Corp. (NYSE:LGF) traded up 0.75% during mid-day trading on Tuesday, reaching $18.72. The company’s stock had a trading volume of 1,827,951 shares. The firm has a market capitalization of $2.76 billion, a price-to-earnings ratio of 263.66 and a beta of 1.30. Lions Gate Entertainment Corp. has a 52 week low of $16.21 and a 52 week high of $41.41. The company’s 50-day moving average price is $20.36 and its 200 day moving average price is $20.66.
Lions Gate Entertainment Corp. (NYSE:LGF) last released its earnings results on Thursday, August 4th. The company reported $0.19 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $553.60 million for the quarter, compared to analyst estimates of $494.34 million. During the same period last year, the company posted $0.31 EPS. The business’s revenue was up 35.4% on a year-over-year basis. On average, equities analysts forecast that Lions Gate Entertainment Corp. will post $0.40 earnings per share for the current fiscal year.
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A number of research firms recently commented on LGF. Zacks Investment Research downgraded Lions Gate Entertainment Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday. Brean Capital reiterated a “buy” rating and issued a $27.00 target price on shares of Lions Gate Entertainment Corp. in a research report on Saturday. Wunderlich decreased their target price on Lions Gate Entertainment Corp. from $28.00 to $26.00 and set a “buy” rating on the stock in a research report on Thursday, October 13th. B. Riley reiterated a “buy” rating and issued a $34.00 target price on shares of Lions Gate Entertainment Corp. in a research report on Saturday, October 8th. Finally, Stifel Nicolaus set a $22.00 target price on Lions Gate Entertainment Corp. and gave the stock a “hold” rating in a research report on Monday, October 3rd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $28.31.
Hedge funds have recently added to or reduced their stakes in the stock. Fairpointe Capital LLC purchased a new stake in Lions Gate Entertainment Corp. during the first quarter valued at approximately $96,088,000. Primecap Management Co. CA purchased a new stake in Lions Gate Entertainment Corp. during the second quarter valued at approximately $70,502,000. Westfield Capital Management Co. LP purchased a new stake in Lions Gate Entertainment Corp. during the second quarter valued at approximately $17,857,000. Point72 Asset Management L.P. purchased a new stake in Lions Gate Entertainment Corp. during the second quarter valued at approximately $12,397,000. Finally, Sarbit Advisory Services Inc. raised its stake in Lions Gate Entertainment Corp. by 52.2% in the second quarter. Sarbit Advisory Services Inc. now owns 1,457,500 shares of the company’s stock valued at $29,485,000 after buying an additional 500,000 shares during the last quarter. 96.12% of the stock is currently owned by hedge funds and other institutional investors.
About Lions Gate Entertainment Corp.
Lions Gate Entertainment Corp. is engaged in motion picture production and distribution, television programming and syndication, home entertainment, international distribution and sales, branded channel platforms, interactive ventures and games and location-based entertainment. The Company operates through two segments: Motion Pictures and Television Production.
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