Markets

Lions Gate Entertainment (LGF) Crumbles: Stock Falls by 6.6% - Tale of the Tape

Lions Gate Entertainment Corp. ( LGF ) saw a big move last session, as the company's shares fell by nearly 7% on the day. The move came on pretty good volume too with far more shares changing hands than in a normal session. This continues the recent downtrend for LGF, as the stock is now down 8% since Mar 19.

On Apr 8, the company announced the pricing of its 10 million share secondary offering by MHR Fund Management funds at $32 per share.

Although this slump was obviously disappointing, the entertainment company has seen 2 positive revisions and its current year earnings consensus has moved higher over the past few weeks. This suggests that the recent slump might be a temporary blip on the radar for LGF. So make sure to keep an eye on this stock going forward to see if yesterday's price decline is confirmed by more weakness, or if it can rebound in the weeks ahead.

LGF currently has a Zacks Rank #3 (Hold) while its Earnings ESP is negative.

A better-ranked stock in the movie/ TV production/distribution sector is RR Media Ltd. ( RRM ), which currently carries a Zacks Rank #2 (Buy).

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days . Click to get this free report >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

LIONS GATE ETMT (LGF): Free Stock Analysis Report

RR MEDIA LTD (RRM): Get Free Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Markets Videos

    Zacks

    Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Today, that discovery is still the heart of the Zacks Rank. A wealth of resources for individual investors is available at www.zacks.com.

    Learn More