Merion Investment Management L Buys 386,587 Shares of Starz Inc. (STRZA) Stock
Starz Inc. (NASDAQ:STRZA) major shareholder Merion Investment Management L purchased 386,587 shares of the company’s stock in a transaction that occurred on Monday, November 21st. The shares were purchased at an average cost of $33.94 per share, for a total transaction of $13,120,762.78. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Starz Inc. (NASDAQ:STRZA) opened at 33.89 on Friday. Starz Inc. has a 52 week low of $20.33 and a 52 week high of $35.84. The company’s 50-day moving average is $32.08 and its 200 day moving average is $30.15. The stock has a market cap of $3.30 billion, a PE ratio of 18.94 and a beta of 0.04.
Starz (NASDAQ:STRZA) last announced its quarterly earnings data on Thursday, October 27th. The company reported $0.34 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.53 by $0.19. Starz had a net margin of 10.99% and a return on equity of 77.85%. The firm had revenue of $407.80 million for the quarter, compared to analysts’ expectations of $405.52 million. During the same period last year, the company posted $0.56 earnings per share. The business’s revenue for the quarter was up .9% compared to the same quarter last year. On average, analysts expect that Starz Inc. will post $2.12 earnings per share for the current fiscal year.
A number of research analysts recently weighed in on the stock. Stifel Nicolaus raised shares of Starz from a “hold” rating to a “buy” rating and raised their price target for the company from $33.00 to $36.00 in a research report on Friday, October 28th. Zacks Investment Research lowered shares of Starz from a “hold” rating to a “sell” rating in a research report on Friday, October 21st. Brean Capital assumed coverage on shares of Starz in a research report on Tuesday, September 6th. They issued a “hold” rating and a $27.00 price objective on the stock. FBN Securities raised shares of Starz from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, August 3rd. Finally, lowered shares of Starz from an “outperform” rating to an “underperform” rating in a research report on Friday, July 29th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $33.55.
Hedge funds have recently made changes to their positions in the stock. Morgan Stanley increased its stake in shares of Starz by 222.6% in the third quarter. Morgan Stanley now owns 1,673,768 shares of the company’s stock valued at $52,206,000 after buying an additional 1,154,979 shares during the period. Water Island Capital LLC increased its stake in shares of Starz by 611.0% in the third quarter. Water Island Capital LLC now owns 1,031,015 shares of the company’s stock valued at $32,157,000 after buying an additional 886,015 shares during the period. P Schoenfeld Asset Management LP boosted its position in Starz by 159.1% in the third quarter. P Schoenfeld Asset Management LP now owns 1,295,742 shares of the company’s stock valued at $40,414,000 after buying an additional 795,742 shares in the last quarter. OMERS ADMINISTRATION Corp boosted its position in Starz by 317.4% in the third quarter. OMERS ADMINISTRATION Corp now owns 876,500 shares of the company’s stock valued at $27,338,000 after buying an additional 666,500 shares in the last quarter. Finally, CNH Partners LLC bought a new position in Starz during the second quarter valued at about $14,261,000. 80.05% of the stock is currently owned by institutional investors.
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Starz is an integrated media and entertainment company. The Company provides subscription video programming in the United States to cable operators, satellite television providers, telecommunications companies and online video providers. The Company’s segments include Starz Networks and Starz Distribution.
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