NEW YORK (TheStreet) -- Lions Gate Entertainment Corp. (LGF) stock is declining 3.05% to $21.93 in mid-morning trading on Monday after the movie production company's latest film had a disappointing box office debut.
"The Divergent Series: Allegiant" generated $29.1 million in North America, missing estimates of $34 million, MKM Partners analysts said in a note this morning.
The movie grossed 44% less in its opening weekend than its predecessor "The Divergent Series: Insurgent," analysts added.
Lions Gate spent about $120 million to produce "Allegiant," according to the Wall Street Journal.
In international markets, the film has made $53.5 million, but the company sells distribution rights in most countries, the Journal added.
The Walt Disney Co.'s (DIS) "Zootopia" topped the North American box office for the third weekend in a row with $38 million in sales, beating estimates of $30 million, MKM noted.
Separately, Lions Gate has a "hold" rating and a letter grade of C at TheStreet Ratings because of the company's strengths, such as good cash flow from operations and expanding profit margins, and its weaknesses, including a disappointing stock performance, deteriorating net income and generally higher debt management risk.
You can view the full analysis from the report here: LGF
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