Starz Entertainment (NASDAQ:STRZ) Shares Gap Down - Here's What Happened

Key Points

• Starz Entertainment's stock price faced a gap down, opening at $11.97 after closing at $12.37, reflecting a decrease in investor confidence.
• Despite recent struggles, analysts have mixed opinions on the stock, giving it a consensus rating of "Moderate Buy" with an average target price of $22.00.
• Insider transactions show that Director Harry Sloan purchased 8,100 shares, indicating growing confidence in the company's potential amidst recent stock fluctuations.

Starz Entertainment Corp. (NASDAQ:STRZ - Get Free Report)'s stock price gapped down before the market opened on Thursday . The stock had previously closed at $12.37, but opened at $11.97. Starz Entertainment shares last traded at $11.97, with a volume of 674 shares traded.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on STRZ. Wall Street Zen upgraded Starz Entertainment from a "sell" rating to a "hold" rating in a research report on Saturday, August 16th. Benchmark started coverage on Starz Entertainment in a report on Wednesday, July 9th. They issued a "buy" rating and a $39.00 price objective on the stock. Seaport Res Ptn raised shares of Starz Entertainment to a "strong-buy" rating in a report on Sunday, May 18th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating on shares of Starz Entertainment in a report on Friday, September 5th. Finally, Morgan Stanley cut their price target on shares of Starz Entertainment from $15.00 to $14.00 and set an "equal weight" rating on the stock in a report on Friday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $22.00.

Starz Entertainment Stock Up 4.6%

The stock's 50-day moving average is $14.51.

Starz Entertainment (NASDAQ:STRZ - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The company reported ($2.54) EPS for the quarter, missing analysts' consensus estimates of ($1.39) by ($1.15). The firm had revenue of $319.70 million during the quarter, compared to analysts' expectations of $328.70 million.

Insider Activity at Starz Entertainment

In other news, Director Harry Sloan purchased 8,100 shares of the stock in a transaction dated Thursday, August 21st. The shares were purchased at an average cost of $12.98 per share, with a total value of $105,138.00. Following the acquisition, the director directly owned 42,260 shares of the company's stock, valued at $548,534.80. This represents a 23.71% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders have purchased 15,796 shares of company stock valued at $201,896 in the last three months. Insiders own 53.60% of the company's stock.

Hedge Funds Weigh In On Starz Entertainment

Institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. bought a new stake in Starz Entertainment during the second quarter valued at about $28,000. CWM LLC bought a new stake in Starz Entertainment during the second quarter valued at about $33,000. Legal & General Group Plc bought a new stake in Starz Entertainment during the second quarter valued at about $41,000. New York State Common Retirement Fund bought a new stake in Starz Entertainment during the second quarter valued at about $48,000. Finally, Police & Firemen s Retirement System of New Jersey bought a new stake in Starz Entertainment during the second quarter valued at about $49,000.

About Starz Entertainment

Starz is a premium cable and streaming network owned by Starz Entertainment, which was formerly a part of Lionsgate. Starz had about 20 million subscribers in the U.S. and Canada as of Dec. 31, 2024. The company's franchises include “Outlander” and “Power."

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