Renaissance Technologies LLC Acquires New Shares in Starz Entertainment Corp. $STRZ

Key Points

• Renaissance Technologies initiated a position in Starz Entertainment, purchasing 50,200 shares valued at approximately $577,000, or about 0.30% of the company. Several other institutional investors also increased their holdings.
• Insider activity was mixed: EVP Jason Wyrick sold 2,803 shares, while insider James M. Kapenstein bought 1,000 shares. Company insiders collectively own 22.62% of Starz stock.
• Starz shares opened at $26.00, with a 52-week range of $8.40 to $32.58. Analyst sentiment is mixed, resulting in a consensus “Hold” rating and an average price target of $30.83.

Renaissance Technologies LLC acquired a new position in shares of Starz Entertainment Corp. (NASDAQ:STRZ - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 50,200 shares of the company's stock, valued at approximately $577,000. Renaissance Technologies LLC owned about 0.30% of Starz Entertainment as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. NewEdge Wealth LLC boosted its stake in shares of Starz Entertainment by 15.5% during the fourth quarter. NewEdge Wealth LLC now owns 710,862 shares of the company's stock valued at $8,317,000 after purchasing an additional 95,245 shares in the last quarter. Royce & Associates LP grew its holdings in shares of Starz Entertainment by 21.5% during the fourth quarter. Royce & Associates LP now owns 440,645 shares of the company's stock worth $5,156,000 after purchasing an additional 78,000 shares during the last quarter. Geode Capital Management LLC acquired a new position in shares of Starz Entertainment in the second quarter valued at approximately $5,076,000. J. Goldman & Co LP increased its stake in shares of Starz Entertainment by 21.6% in the fourth quarter. J. Goldman & Co LP now owns 255,690 shares of the company's stock valued at $2,992,000 after buying an additional 45,352 shares during the period. Finally, Russell Investments Group Ltd. raised its holdings 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 during the last quarter.

Insider Activity at Starz Entertainment

In other Starz Entertainment news, EVP Jason Wyrick sold 2,803 shares of the stock in a transaction that occurred 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 of the company's stock, valued at approximately $693,828.27. This represents a 9.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James M. Kapenstein bought 1,000 shares of the firm's stock in a transaction on Monday, August 10th. The shares were purchased at an average cost of $25.73 per share, with a total value of $25,730.00. Following the transaction, the insider directly owned 12,302 shares in the company, valued at approximately $316,530.46. This trade represents a 8.85% increase in their position. The disclosure for this purchase is available in the SEC filing. 22.62% of the stock is currently owned by company insiders.

Starz Entertainment Stock Performance

Shares of STRZ stock opened at $26.00 on Monday. Starz Entertainment Corp. has a 1-year low of $8.40 and a 1-year high of $32.58. The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 2.05. The stock has a market cap of $445.12 million, a price-to-earnings ratio of -1.02 and a beta of 2.46. The stock has a 50-day moving average of $27.19 and a 200-day moving average of $19.54.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on STRZ shares. B. Riley Financial started coverage on shares of Starz Entertainment in a research report on Tuesday, June 30th. They set a "buy" rating and a $45.00 target price on the stock. Wall Street Zen cut shares of Starz Entertainment from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. Morgan Stanley set a $30.00 price target on shares of Starz Entertainment in a research note on Monday, August 10th. Weiss Ratings reiterated a "sell (d-)" rating on shares of Starz Entertainment in a report on Wednesday, July 29th. Finally, Robert W. Baird set a $30.00 price target on shares of Starz Entertainment and gave the stock an "outperform" rating in a report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $30.83.

Starz Entertainment 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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