Algert Global LLC Acquires 75,214 Shares of Starz Entertainment Corp. $STRZ

Algert Global LLC grew its holdings in shares of Starz Entertainment Corp. (NASDAQ:STRZ - Free Report) by 369.7% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 95,558 shares of the company's stock after buying an additional 75,214 shares during the period. Algert Global LLC owned approximately 0.57% of Starz Entertainment worth $2,758,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new stake in Starz Entertainment in the second quarter valued at $35,599,000. NewEdge Wealth LLC bought a new position in shares of Starz Entertainment during the 2nd quarter worth about $13,911,000. Geode Capital Management LLC bought a new position in shares of Starz Entertainment during the 2nd quarter worth about $5,076,000. Bank of New York Mellon Corp acquired a new stake in shares of Starz Entertainment in the 2nd quarter valued at about $9,018,000. Finally, Russell Investments Group Ltd. increased its position in Starz Entertainment by 632.9% in the 4th quarter. Russell Investments Group Ltd. now owns 210,771 shares of the company's stock valued at $2,466,000 after buying an additional 182,012 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on STRZ shares. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Starz Entertainment in a research report on Wednesday, July 29th. JPMorgan Chase & Co. lifted their price target on shares of Starz Entertainment from $13.00 to $25.00 and gave the company a "neutral" rating in a research report on Friday, May 29th. Raymond James Financial restated an "outperform" rating and set a $29.00 price objective on shares of Starz Entertainment in a report on Friday, May 8th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and issued a $30.00 price objective on shares of Starz Entertainment in a research note on Tuesday, August 18th. Finally, Wall Street Zen cut shares of Starz Entertainment from a "hold" rating to a "sell" rating in a report on Saturday, July 25th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $31.50.

Starz Entertainment Stock Performance

NASDAQ STRZ opened at $27.75 on Friday. The company has a market capitalization of $475.08 million, a PE ratio of -1.09 and a beta of 2.46. The company has a debt-to-equity ratio of 2.05, a quick ratio of 0.25 and a current ratio of 0.25. Starz Entertainment Corp. has a 52-week low of $8.40 and a 52-week high of $32.58. The company has a 50-day simple moving average of $27.08 and a 200 day simple moving average of $20.70.

Starz Entertainment (NASDAQ:STRZ - Get Free Report) last released its earnings results on Friday, August 7th. The company reported ($11.27) earnings per share for the quarter, missing analysts' consensus estimates of ($0.59) by ($10.68). The company had revenue of $307.90 million for the quarter. Starz Entertainment had a negative net margin of 33.98% and a negative return on equity of 25.64%. On average, research analysts predict that Starz Entertainment Corp. will post -6.12 EPS for the current year.

Insider Buying and Selling at Starz Entertainment

In other news, insider James M. Kapenstein bought 1,000 shares of the firm's stock in a transaction on Monday, August 10th. The stock was acquired at an average cost of $25.73 per share, with a total value of $25,730.00. Following the completion of the transaction, the insider directly owned 12,302 shares of the company's stock, valued at $316,530.46. This represents a 8.85% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jeffrey Hirsch bought 10,000 shares of the stock in a transaction on Monday, August 10th. The stock was purchased at an average price of $24.80 per share, for a total transaction of $248,000.00. Following the completion of the purchase, the chief executive officer owned 65,000 shares of the company's stock, valued at approximately $1,612,000. This trade represents a 18.18% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 22.62% of the stock is owned by corporate insiders.

Starz Entertainment Company Profile

Starz Entertainment NASDAQ: STRZ is a global media and entertainment company that operates premium subscription video services across linear television and digital streaming platforms. The company's core offering includes the STARZ and STARZ ENCORE linear networks in the United States, alongside its STARZPLAY streaming service, which is available in North America, parts of Europe, Latin America and select Asian markets. Through its multi-platform distribution strategy, Starz delivers a combination of original programming, feature films and licensed series to a broad subscriber base.

At the heart of Starz Entertainment's business is its investment in original content production.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source