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

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

Lions Gate Entertainment Trading Down 4.9 %

The stock’s fifty day moving average price is $6.95 and its 200-day moving average price is $7.45.

Insider Activity at Lions Gate Entertainment

In related news, major shareholder Liberty 77 Capital L.P. bought 472,339 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was acquired at an average cost of $6.73 per share, with a total value of $3,178,841.47. Following the purchase, the insider now directly owns 1,772,339 shares of the company’s stock, valued at $11,927,841.47. The trade was a 36.33 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

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.