Capital Research Global Investors Cuts Holdings in Starz Entertainment Corp. $STRZ

Capital Research Global Investors decreased its stake in shares of Starz Entertainment Corp. (NASDAQ:STRZ) by 41.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 870,042 shares of the company’s stock after selling 618,570 shares during the quarter. Capital Research Global Investors owned approximately 5.20% of Starz Entertainment worth $10,179,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of STRZ. Geode Capital Management LLC purchased a new stake in Starz Entertainment during the 2nd quarter worth about $5,076,000. Ancora Advisors LLC increased its holdings in Starz Entertainment by 547.1% during the 3rd quarter. Ancora Advisors LLC now owns 175,325 shares of the company’s stock worth $2,583,000 after purchasing an additional 148,230 shares during the period. Marshall Wace LLP purchased a new stake in Starz Entertainment during the 2nd quarter worth about $2,212,000. Alpine Global Management LLC purchased a new stake in Starz Entertainment during the 3rd quarter worth about $1,948,000. Finally, Honeycomb Asset Management LP purchased a new stake in Starz Entertainment during the 2nd quarter worth about $1,607,000.

Analysts Set New Price Targets

Several equities research analysts have weighed in on STRZ shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $26.00 price target on shares of Starz Entertainment in a report on Friday. JPMorgan Chase & Co. increased their price objective on Starz Entertainment from $13.00 to $25.00 and gave the company a “neutral” rating in a report on Friday, May 29th. Raymond James Financial reiterated an “outperform” rating and issued a $29.00 price objective on shares of Starz Entertainment in a report on Friday, May 8th. Robert W. Baird set a $30.00 price objective on Starz Entertainment and gave the company an “outperform” rating in a report on Monday, May 11th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Starz Entertainment in a report on Friday, May 1st. One equities research 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’s stock. According to data from MarketBeat, Starz Entertainment has a consensus rating of “Hold” and a consensus price target of $28.33.

Starz Entertainment Trading Up 3.9%

STRZ opened at $27.27 on Wednesday. Starz Entertainment Corp. has a one year low of $8.40 and a one year high of $28.24. The company has a market cap of $456.23 million and a P/E ratio of -1.63. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.31 and a current ratio of 0.31. The business’s 50-day simple moving average is $19.54 and its 200-day simple moving average is $14.13.

Insiders Place Their Bets

In related news, EVP Jason Wyrick sold 2,803 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $25.47, for a total value of $71,392.41. Following the completion of the sale, the executive vice president directly owned 27,241 shares of the company’s stock, valued at $693,828.27. This represents a 9.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Alison Hoffman sold 13,661 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $21.42, for a total value of $292,618.62. Following the completion of the sale, the insider directly owned 94,419 shares of the company’s stock, valued at approximately $2,022,454.98. This trade represents a 12.64% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 22.62% of the stock is currently owned by insiders.

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.