Royal Bank of Canada Sells 54,663 Shares of Starz Entertainment Corp. $STRZ

Key Points

• Royal Bank of Canada cut its Starz Entertainment stake by 89.3%, selling 54,663 shares and retaining 6,528 shares valued at approximately $75,000.
• Starz reported a substantial quarterly loss of $11.27 per share, missing the consensus estimate of a $0.59 loss, on revenue of $307.9 million.
• Insiders bought shares, including CEO Jeffrey Hirsch’s 10,000-share purchase, while analysts maintained a consensus “Hold” rating with an average price target of $31.50 versus the stock’s $26.52 price.

Royal Bank of Canada lessened its stake in shares of Starz Entertainment Corp. (NASDAQ:STRZ - Free Report) by 89.3% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,528 shares of the company's stock after selling 54,663 shares during the period. Royal Bank of Canada's holdings in Starz Entertainment were worth $75,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Russell Investments Group Ltd. acquired a new stake in Starz Entertainment in the second quarter worth $28,000. Advisory Services Network LLC bought a new stake in Starz Entertainment in the third quarter valued at $36,000. BNP Paribas Financial Markets raised 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 valued at $37,000 after purchasing an additional 1,274 shares during the period. Legal & General Group Plc acquired a new position in shares of Starz Entertainment during the second quarter valued at about $41,000. Finally, New York State Common Retirement Fund bought a new position in shares of Starz Entertainment during the 2nd quarter worth about $48,000.

Starz Entertainment Stock Up 0.2%

Starz Entertainment stock opened at $26.52 on Wednesday. The firm has a market capitalization of $454.13 million, a price-to-earnings ratio of -1.04 and a beta of 2.46. The firm's fifty day moving average price is $27.02 and its two-hundred day moving average price is $21.03. 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.

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

Insider Buying and Selling

In related news, CEO Jeffrey Hirsch acquired 10,000 shares of the firm's stock in a transaction on Monday, August 10th. The stock was purchased at an average cost of $24.80 per share, with a total value of $248,000.00. Following the acquisition, 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 position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider James M. Kapenstein acquired 1,000 shares of the stock in a transaction dated Monday, August 10th. The stock was bought at an average cost of $25.73 per share, with a total value of $25,730.00. Following the completion of the purchase, the insider owned 12,302 shares of the company's stock, valued at approximately $316,530.46. The trade was a 8.85% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 22.62% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on STRZ. Weiss Ratings restated a "sell (d-)" rating on shares of Starz Entertainment in a research note on Wednesday, July 29th. B. Riley Financial initiated coverage on Starz Entertainment in a research note on Tuesday, June 30th. They set a "buy" rating and a $45.00 price target on the stock. JPMorgan Chase & Co. increased their price target on Starz Entertainment from $13.00 to $25.00 and gave the stock a "neutral" rating in a report on Friday, May 29th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $30.00 price objective on shares of Starz Entertainment in a research note on Tuesday, August 18th. Finally, 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. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $31.50.

About Starz Entertainment

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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