Starz Entertainment (NASDAQ:STRZ) Major Shareholder Sells 34,786 Shares of Stock

Key Points

• Allen Family Capital sold 34,786 Starz shares at an average price of $26.23, generating $912,436.78. The sale reduced its holdings by 1.93% to 1.769 million shares, and follows several other sizable sales.
• Starz shares fell 3.4% to $21.74, while the company reported a quarterly loss of $11.27 per share—far worse than the $0.59 consensus estimate—on revenue of $307.9 million.
• Analyst sentiment remains mixed: the consensus rating is “Moderate Buy” with a $32.71 average price target, although some firms have maintained or initiated sell ratings.

Starz Entertainment Corp. (NASDAQ:STRZ - Get Free Report) major shareholder Allen Family Capital, Llc sold 34,786 shares of the firm's stock in a transaction on Friday, August 7th. The shares were sold at an average price of $26.23, for a total transaction of $912,436.78. Following the transaction, the insider directly owned 1,769,000 shares of the company's stock, valued at $46,400,870. The trade was a 1.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Allen Family Capital, Llc also recently made the following trade(s):

• On Tuesday, September 29th, Allen Family Capital, Llc sold 363,786 shares of Starz Entertainment stock. The stock was sold at an average price of $21.06, for a total value of $7,661,333.16.
• On Monday, September 28th, Allen Family Capital, Llc sold 124,069 shares of Starz Entertainment stock. The stock was sold at an average price of $21.58, for a total value of $2,677,409.02.
• On Tuesday, September 22nd, Allen Family Capital, Llc sold 115,931 shares of Starz Entertainment stock. The shares were sold at an average price of $25.80, for a total value of $2,991,019.80.
• On Monday, September 21st, Allen Family Capital, Llc sold 249,255 shares of Starz Entertainment stock. The stock was sold at an average price of $25.96, for a total transaction of $6,470,659.80.
• On Friday, September 18th, Allen Family Capital, Llc sold 745 shares of Starz Entertainment stock. The shares were sold at an average price of $25.02, for a total value of $18,639.90.
• On Thursday, September 17th, Allen Family Capital, Llc sold 93,834 shares of Starz Entertainment stock. The stock was sold at an average price of $25.14, for a total transaction of $2,358,986.76.
• On Wednesday, September 16th, Allen Family Capital, Llc sold 17,700 shares of Starz Entertainment stock. The stock was sold at an average price of $27.48, for a total value of $486,396.00.
• On Tuesday, September 15th, Allen Family Capital, Llc sold 38,466 shares of Starz Entertainment stock. The shares were sold at an average price of $27.33, for a total value of $1,051,275.78.
• On Tuesday, September 1st, Allen Family Capital, Llc sold 140,712 shares of Starz Entertainment stock. The shares were sold at an average price of $26.25, for a total transaction of $3,693,690.00.
• On Monday, August 31st, Allen Family Capital, Llc sold 59,288 shares of Starz Entertainment stock. The stock was sold at an average price of $26.31, for a total value of $1,559,867.28.

Starz Entertainment Stock Down 3.4%

Shares of Starz Entertainment stock traded down $0.76 on Thursday, reaching $21.74. The stock had a trading volume of 493,168 shares, compared to its average volume of 195,830. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 2.05. The stock has a market capitalization of $372.19 million, a P/E ratio of -0.85 and a beta of 2.55. The company has a 50 day moving average price of $24.91 and a 200 day moving average price of $20.44. Starz Entertainment Corp. has a 1 year low of $8.40 and a 1 year high of $32.58.

Starz Entertainment (NASDAQ:STRZ - Get Free Report) last announced its quarterly earnings data 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 net margin of 33.98% and a negative return on equity of 25.64%. The company had revenue of $307.90 million during the quarter. As a group, equities research analysts forecast that Starz Entertainment Corp. will post -6.12 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on STRZ. Weiss Ratings reiterated a "sell (d-)" rating on shares of Starz Entertainment in a research report on Tuesday. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $30.00 price target on shares of Starz Entertainment in a report on Tuesday, August 18th. Citigroup initiated coverage on shares of Starz Entertainment in a report on Monday, September 14th. They set an "outperform" rating on the stock. Wall Street Zen lowered shares of Starz Entertainment from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. Finally, Morgan Stanley set a $30.00 target price on shares of Starz Entertainment in a research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $32.71.

Hedge Funds Weigh In On Starz Entertainment

A number of institutional investors and hedge funds have recently added to or reduced their stakes in STRZ. BlackRock Inc. acquired a new position in shares of Starz Entertainment during the 2nd quarter valued at about $35,599,000. Renaissance Technologies LLC acquired a new stake in Starz Entertainment during the first quarter worth about $577,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Starz Entertainment during the second quarter worth about $1,411,000. NewEdge Wealth LLC purchased a new position in Starz Entertainment during the second quarter worth about $13,911,000. Finally, Bank of New York Mellon Corp acquired a new position in Starz Entertainment in the 2nd quarter valued at about $9,018,000.

Starz Entertainment Company Profile

Starz Entertainment Corp. is a media and entertainment company that operates premium subscription television and streaming services. Its offerings include the STARZ premium network, related linear television channels and the STARZ streaming platform, which provides original series, feature films and licensed entertainment content.

The company's programming has included original dramas, comedies and franchises, as well as a selection of theatrical and television movies. STARZ content is distributed through traditional pay-TV providers, digital platforms and direct-to-consumer subscriptions, with availability varying by market and distribution partner.

Starz was established in 1994 as a premium television service and was acquired by Lionsgate in 2016.

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.