NewEdge Wealth LLC Has $7.13 Million Stake in Starz Entertainment Corp. $STRZ

NewEdge Wealth LLC reduced its stake in shares of Starz Entertainment Corp. (NASDAQ:STRZ) by 12.8% in the first quarter, HoldingsChannel.com reports. The firm owned 619,742 shares of the company’s stock after selling 91,120 shares during the period. NewEdge Wealth LLC’s holdings in Starz Entertainment were worth $7,127,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of STRZ. Strs Ohio raised its stake in shares of Starz Entertainment by 1,955.5% during the fourth quarter. Strs Ohio now owns 45,900 shares of the company’s stock valued at $537,000 after purchasing an additional 43,667 shares in the last quarter. Royce & Associates LP grew its position in Starz Entertainment by 21.5% in the 4th quarter. Royce & Associates LP now owns 440,645 shares of the company’s stock valued at $5,156,000 after buying an additional 78,000 shares in the last quarter. Hsbc Holdings PLC grew its position in Starz Entertainment by 109.7% in the 4th quarter. Hsbc Holdings PLC now owns 36,504 shares of the company’s stock valued at $428,000 after buying an additional 19,096 shares in the last quarter. Jane Street Group LLC acquired a new position in Starz Entertainment during the 2nd quarter valued at about $247,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in Starz Entertainment during the 2nd quarter valued at about $113,000.

Starz Entertainment Price Performance

NASDAQ:STRZ opened at $24.34 on Friday. The business’s 50-day moving average price is $26.53 and its 200 day moving average price is $17.87. The firm has a market cap of $407.21 million, a P/E ratio of -1.45 and a beta of 2.35. Starz Entertainment Corp. has a 52-week low of $8.40 and a 52-week high of $32.58. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 1.26.

Analysts Set New Price Targets

A number of analysts have recently weighed in on STRZ shares. Robert W. Baird set a $30.00 price target on shares of Starz Entertainment and gave the stock an “outperform” rating in a research note on Monday, May 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Starz Entertainment in a research note on Friday, May 1st. B. Riley Financial initiated coverage on Starz Entertainment in a report on Tuesday, June 30th. They set a “buy” rating and a $45.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on Starz Entertainment from $13.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Finally, Morgan Stanley upped their target price on 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 analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $29.33.

Insider Buying and Selling at Starz Entertainment

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