Gordon Crawford, a director at Lions Gate Entertainment (LGF.B), recently bought 200,000 shares of the company. The buy increased his holdings by 330 percent, and came to a total purchase price of just over $1.66 million.
Insider data shows that company insiders have largely been buyers over the past two years, with only one insider buy back in 2019. Crawford in particular has been the company’s sole insider buyer of shares in 2020.
All told, insiders own just over 2 percent of the company. Shares of the entertainment company were cut nearly in half during the market selloff, but have strongly recovered, now trading about flat over the past year.
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Action to take: With the entertainment industry opening back up for filming, the company should be able to get back on track with producing and creating new content. The ongoing rally in shares is likely to continue, and shares are attractively valued at about half their price to sales and under their book value.
The March 2021 $11 calls would require a big rally to move in-the-money, but they look like a solid trade here. The bid/ask on the options is around $0.50, or $50 per contract. For a gradual move higher, this is a trade with high-double to low-triple-digit potential returns for traders.