Alpine Global Management LLC Makes New $1.95 Million Investment in Starz Entertainment Corp. $STRZ

Key Points

• Alpine Global Management LLC acquired a new stake of 132,231 shares in Starz Entertainment (NASDAQ:STRZ) during Q3, valued at about $1.95 million, representing roughly 0.05% of the company.
• Major shareholder Liberty 77 Capital L.P. sold 1,803,786 shares on March 6 at an average price of $13.86, totaling about $25.0 million.
• Analyst sentiment is mixed with a MarketBeat consensus of Hold and a consensus price target of $19.80; recent actions include a downgrade to "Sell" by Wall Street Zen and Morgan Stanley cutting its target to $12 with an "equal weight" rating.

Alpine Global Management LLC acquired a new stake in Starz Entertainment Corp. (NASDAQ:STRZ - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 132,231 shares of the company's stock, valued at approximately $1,948,000. Alpine Global Management LLC owned 0.05% of Starz Entertainment as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Russell Investments Group Ltd. bought a new stake in Starz Entertainment during the second quarter worth about $28,000. Advisory Services Network LLC acquired a new position in shares of Starz Entertainment during the third quarter worth $36,000. BNP Paribas Financial Markets lifted its holdings in shares of Starz Entertainment by 101.8% during the third quarter. BNP Paribas Financial Markets now owns 2,525 shares of the company's stock worth $37,000 after purchasing an additional 1,274 shares during the period. Legal & General Group Plc bought a new stake in shares of Starz Entertainment in the second quarter worth $41,000. Finally, New York State Common Retirement Fund acquired a new stake in Starz Entertainment in the second quarter valued at $48,000.

Insider Buying and Selling

In other Starz Entertainment news, major shareholder Liberty 77 Capital L.P. sold 1,803,786 shares of the company's stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $13.86, for a total transaction of $25,000,473.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Wall Street Analyst Weigh In

Several research analysts have commented on STRZ shares. Wall Street Zen downgraded Starz Entertainment from a "hold" rating to a "sell" rating in a report on Sunday, December 21st. Morgan Stanley lowered their price objective on Starz Entertainment from $13.00 to $12.00 and set an "equal weight" rating for the company in a research report on Monday, March 2nd. Finally, Weiss Ratings reaffirmed a "sell (e)" rating on shares of Starz Entertainment in a research note on Monday, December 29th. Two analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $19.80.

Starz Entertainment Price Performance

STRZ stock opened at $13.89 on Wednesday. The firm has a 50-day moving average of $10.92 and a 200 day moving average of $11.63. Starz Entertainment Corp. has a 1 year low of $8.00 and a 1 year high of $22.98.

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.

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