Royce & Associates LP Acquires 78,000 Shares of Starz Entertainment Corp. $STRZ

Royce & Associates LP raised its holdings in Starz Entertainment Corp. (NASDAQ:STRZ) by 21.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 440,645 shares of the company’s stock after purchasing an additional 78,000 shares during the period. Royce & Associates LP’s holdings in Starz Entertainment were worth $5,156,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its position in shares of Starz Entertainment by 101.8% during the third quarter. BNP Paribas Financial Markets now owns 2,525 shares of the company’s stock worth $37,000 after purchasing an additional 1,274 shares in the last quarter. Russell Investments Group Ltd. bought a new position in shares of Starz Entertainment during the second quarter worth $28,000. Harbor Capital Advisors Inc. boosted its position in shares of Starz Entertainment by 9.9% during the fourth quarter. Harbor Capital Advisors Inc. now owns 23,107 shares of the company’s stock worth $270,000 after purchasing an additional 2,083 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Starz Entertainment during the third quarter worth $36,000. Finally, Legal & General Group Plc bought a new position in shares of Starz Entertainment during the second quarter worth $41,000.

Insider Activity at Starz Entertainment

In related news, major shareholder Liberty 77 Capital L.P. sold 1,803,786 shares of the firm’s stock in a transaction on Friday, March 6th. The shares were sold at an average price of $13.86, for a total transaction of $25,000,473.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Alison Hoffman sold 13,661 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $21.42, for a total transaction of $292,618.62. Following the sale, the insider owned 94,419 shares in the company, valued at approximately $2,022,454.98. The trade was a 12.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 22.62% of the company’s stock.

Starz Entertainment Trading Down 3.9%

Shares of NASDAQ:STRZ opened at $23.38 on Friday. Starz Entertainment Corp. has a 12 month low of $8.40 and a 12 month high of $24.65. The company has a quick ratio of 0.19, a current ratio of 0.19 and a debt-to-equity ratio of 0.92. The company’s fifty day simple moving average is $17.49 and its 200 day simple moving average is $13.32. The firm has a market cap of $391.17 million and a price-to-earnings ratio of -1.39.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Starz Entertainment from $13.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday. Weiss Ratings reissued a “sell (d-)” rating on shares of Starz Entertainment in a research report on Friday, May 1st. Raymond James Financial reissued an “outperform” rating and set a $29.00 price target on shares of Starz Entertainment in a research report on Friday, May 8th. Robert W. Baird set a $30.00 price target on shares of Starz Entertainment and gave the stock an “outperform” rating in a research report on Monday, May 11th. Finally, Morgan Stanley lifted their price target on shares of Starz Entertainment from $20.00 to $21.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $28.80.

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.