Lions Gate Entertainment (NYSE:LGF-B) Shares Down 4.9% – Here’s What Happened

Lions Gate Entertainment Corp. (NYSE:LGF-B) shares dropped 4.9% on Tuesday . The company traded as low as $7.08 and last traded at $7.13. Approximately 879,796 shares traded hands during mid-day trading, The stock had previously closed at $7.49.

Lions Gate Entertainment Price Performance

The business’s 50-day simple moving average is $6.95 and its two-hundred day simple moving average is $7.45.

Insider Buying and Selling

In related news, major shareholder Liberty 77 Capital L.P. purchased 472,339 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was bought at an average price of $6.73 per share, with a total value of $3,178,841.47. Following the acquisition, the insider now owns 1,772,339 shares in the company, valued at $11,927,841.47. The trade was a 36.33 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Lions Gate Entertainment Company Profile

Lions Gate Entertainment Corp. engages in the film, television, subscription, and location-based entertainment businesses in the United States, Canada, and internationally. The company operates through three segments: Motion Picture, Television Production, and Media Networks. The Motion Picture segment engages in the development and production of feature films; acquisition of North American and worldwide distribution rights; North American theatrical, home entertainment, and television distribution of feature films produced and acquired; and worldwide licensing of distribution rights to feature films produced and acquired.