NewEdge Wealth LLC decreased its stake in Starz Entertainment Corp. (NASDAQ:STRZ - Free Report) by 12.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 619,742 shares of the company's stock after selling 91,120 shares during the period. NewEdge Wealth LLC owned 3.70% of Starz Entertainment worth $7,127,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC bought a new stake in shares of Starz Entertainment in the 2nd quarter valued at $5,076,000. Russell Investments Group Ltd. lifted its holdings in Starz Entertainment by 632.9% in the fourth 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 during the period. Ancora Advisors LLC lifted its holdings in Starz Entertainment by 547.1% in the third quarter. Ancora Advisors LLC now owns 175,325 shares of the company's stock valued at $2,583,000 after buying an additional 148,230 shares during the period. Marshall Wace LLP bought a new stake in Starz Entertainment during the second quarter valued at $2,212,000. Finally, Honeycomb Asset Management LP bought a new stake in Starz Entertainment during the second quarter valued at $1,607,000.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on the company. Robert W. Baird set a $30.00 price objective on Starz Entertainment and gave the company an "outperform" rating in a research note on Monday, May 11th. JPMorgan Chase & Co. boosted their price target on Starz Entertainment from $13.00 to $25.00 and gave the company a "neutral" rating in a research note on Friday, May 29th. Wall Street Zen upgraded Starz Entertainment from a "sell" rating to a "hold" rating in a report on Saturday, July 4th. Raymond James Financial reaffirmed an "outperform" rating and set a $29.00 price objective on shares of Starz Entertainment in a research report on Friday, May 8th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of Starz Entertainment in a research note on Friday, May 1st. One 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 company presently has an average rating of "Hold" and an average target price of $29.33.
Get Our Latest Stock Report on Starz Entertainment
Insider Transactions at Starz Entertainment
In other Starz Entertainment news, EVP Jason Wyrick sold 2,803 shares of the business's stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $25.47, for a total transaction of $71,392.41. Following the completion of the sale, the executive vice president owned 27,241 shares in the company, valued at approximately $693,828.27. The trade was a 9.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jeffrey Hirsch purchased 10,000 shares of the firm's stock in a transaction on Tuesday, May 12th. The shares were acquired at an average price of $20.72 per share, with a total value of $207,200.00. Following the purchase, the chief executive officer directly owned 55,000 shares in the company, valued at $1,139,600. This represents a 22.22% increase in their position. The SEC filing for this purchase provides additional information. 22.62% of the stock is owned by company insiders.
Starz Entertainment Stock Down 7.2%
STRZ stock opened at $24.34 on Friday. The stock's 50 day simple moving average is $26.53 and its 200 day simple moving average is $17.87. The company has a market cap of $407.21 million, a P/E ratio of -1.45 and a beta of 2.35. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.31 and a current ratio of 0.31. Starz Entertainment Corp. has a fifty-two week low of $8.40 and a fifty-two week high of $32.58.
About Starz Entertainment
(
Free Report)
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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