Royal Bank of Canada Lowers Stock Position in Starz Entertainment Corp. $STRZ

Royal Bank of Canada reduced its position in shares of Starz Entertainment Corp. (NASDAQ:STRZ) by 89.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in STRZ. Russell Investments Group Ltd. bought a new stake in Starz Entertainment in the 2nd quarter worth about $28,000. Advisory Services Network LLC bought a new position in shares of Starz Entertainment during the 3rd quarter worth approximately $36,000. BNP Paribas Financial Markets lifted its position in shares of Starz Entertainment by 101.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,525 shares of the company’s stock worth $37,000 after buying an additional 1,274 shares in the last quarter. Legal & General Group Plc purchased a new position in shares of Starz Entertainment in the 2nd quarter worth approximately $41,000. Finally, New York State Common Retirement Fund purchased a new position in shares of Starz Entertainment in the 2nd quarter worth approximately $48,000.

Starz Entertainment Stock Up 0.2%

STRZ opened at $26.52 on Wednesday. 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 cap of $454.13 million, a price-to-earnings ratio of -1.04 and a beta of 2.46. Starz Entertainment Corp. has a twelve month low of $8.40 and a twelve month high of $32.58. The company’s 50-day moving average price is $27.02 and its two-hundred day moving average price is $21.03.

Starz Entertainment (NASDAQ:STRZ) last released its earnings results on Friday, August 7th. The company reported ($11.27) earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter. As a group, equities analysts expect that Starz Entertainment Corp. will post -6.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. B. Riley Financial started coverage on Starz Entertainment in a report on Tuesday, June 30th. They issued a “buy” rating and a $45.00 target price for the company. Morgan Stanley set a $30.00 price target on Starz Entertainment in a report on Monday, August 10th. JPMorgan Chase & Co. boosted their price objective on Starz Entertainment from $13.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Raymond James Financial restated an “outperform” rating and issued a $29.00 price objective on shares of Starz Entertainment in a research note on Friday, May 8th. Finally, Wall Street Zen lowered Starz Entertainment from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Starz Entertainment currently has an average rating of “Hold” and a consensus price target of $31.50.

Insider Activity at Starz Entertainment

In other news, insider James M. Kapenstein bought 1,000 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was acquired at an average cost of $25.73 per share, with a total value of $25,730.00. Following the completion of the transaction, the insider directly owned 12,302 shares of the company’s stock, valued at $316,530.46. This represents a 8.85% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jeffrey Hirsch bought 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 completion of the transaction, the chief executive officer directly owned 65,000 shares of the company’s stock, valued at approximately $1,612,000. The trade was a 18.18% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 22.62% of the stock is currently owned by corporate insiders.

Starz Entertainment Profile

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.