Insider Buying: Starz Entertainment (NASDAQ:STRZ) CEO Acquires $248,000.00 in Stock

Starz Entertainment Corp. (NASDAQ:STRZ) CEO Jeffrey Hirsch acquired 10,000 shares of Starz Entertainment stock in a transaction on Monday, August 10th. The shares were purchased at an average cost of $24.80 per share, for a total transaction of $248,000.00. Following the acquisition, the chief executive officer owned 65,000 shares in the company, valued at approximately $1,612,000. This represents a 18.18% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Starz Entertainment Stock Up 12.0%

Shares of NASDAQ STRZ opened at $28.00 on Friday. The firm has a market capitalization of $468.44 million, a PE ratio of -1.10 and a beta of 2.46. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 1.26. Starz Entertainment Corp. has a 1 year low of $8.40 and a 1 year high of $32.58. The firm’s 50-day moving average is $27.19 and its 200-day moving average is $19.43.

Analyst Upgrades and Downgrades

STRZ has been the subject of a number of recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Starz Entertainment in a research report on Wednesday, July 29th. Morgan Stanley set a $30.00 target price on Starz Entertainment in a report on Monday. B. Riley Financial assumed coverage on Starz Entertainment in a research note on Tuesday, June 30th. They issued a “buy” rating and a $45.00 target price for the company. JPMorgan Chase & Co. increased their price target on Starz Entertainment from $13.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Finally, Robert W. Baird set a $30.00 price target on Starz Entertainment and gave the stock an “outperform” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $30.83.

Institutional Trading of Starz Entertainment

A number of institutional investors have recently modified their holdings of the company. Algert Global LLC grew its holdings in shares of Starz Entertainment by 369.7% during the second quarter. Algert Global LLC now owns 95,558 shares of the company’s stock worth $2,758,000 after buying an additional 75,214 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Starz Entertainment in the 2nd quarter valued at approximately $1,411,000. NewEdge Wealth LLC bought a new stake in Starz Entertainment in the 2nd quarter valued at approximately $13,911,000. BlackRock Inc. acquired a new position in Starz Entertainment during the 2nd quarter worth approximately $35,599,000. Finally, Deutsche Bank AG acquired a new position in Starz Entertainment during the 2nd quarter worth approximately $342,000.

Starz Entertainment Company 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.