Lions Gate Entertainment (NYSE:LGF-B) Shares Up 2.9% – Still a Buy?

Lions Gate Entertainment Corp. (NYSE:LGF-B) shares rose 2.9% on Friday . The company traded as high as $7.02 and last traded at $6.98. Approximately 635,606 shares were traded during mid-day trading, The stock had previously closed at $6.78.

Lions Gate Entertainment Stock Performance

The company’s 50-day moving average price is $6.98 and its 200-day moving average price is $8.07.

Insiders Place Their Bets

In related news, major shareholder Liberty 77 Capital L.P. purchased 209,209 shares of the company’s stock in a transaction on Friday, July 26th. The shares were bought at an average cost of $8.50 per share, for a total transaction of $1,778,276.50. Following the completion of the purchase, the insider now directly owns 10,879,358 shares of the company’s stock, valued at approximately $92,474,543. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders acquired 3,897,368 shares of company stock valued at $31,168,260 in the last ninety days.

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.