Insider Selling: Starz Entertainment (NASDAQ:STRZ) Major Shareholder Sells $3,693,690.00 in Stock

Starz Entertainment Corp. (NASDAQ:STRZ) major shareholder Allen Family Capital, Llc sold 140,712 shares of Starz Entertainment stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $26.25, for a total transaction of $3,693,690.00. Following the transaction, the insider directly owned 1,003,786 shares in the company, valued at $26,349,382.50. This trade represents a 12.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Allen Family Capital, Llc also recently made the following trade(s):

• On Tuesday, September 29th, Allen Family Capital, Llc sold 363,786 shares of Starz Entertainment stock. The stock was sold at an average price of $21.06, for a total transaction of $7,661,333.16.
• On Monday, September 28th, Allen Family Capital, Llc sold 124,069 shares of Starz Entertainment stock. The shares were sold at an average price of $21.58, for a total transaction of $2,677,409.02.
• On Tuesday, September 22nd, Allen Family Capital, Llc sold 115,931 shares of Starz Entertainment stock. The shares were sold at an average price of $25.80, for a total transaction of $2,991,019.80.
• On Monday, September 21st, Allen Family Capital, Llc sold 249,255 shares of Starz Entertainment stock. The stock was sold at an average price of $25.96, for a total transaction of $6,470,659.80.
• On Friday, September 18th, Allen Family Capital, Llc sold 745 shares of Starz Entertainment stock. The stock was sold at an average price of $25.02, for a total value of $18,639.90.
• On Thursday, September 17th, Allen Family Capital, Llc sold 93,834 shares of Starz Entertainment stock. The shares were sold at an average price of $25.14, for a total value of $2,358,986.76.
• On Wednesday, September 16th, Allen Family Capital, Llc sold 17,700 shares of Starz Entertainment stock. The shares were sold at an average price of $27.48, for a total value of $486,396.00.
• On Tuesday, September 15th, Allen Family Capital, Llc sold 38,466 shares of Starz Entertainment stock. The stock was sold at an average price of $27.33, for a total transaction of $1,051,275.78.
• On Monday, August 31st, Allen Family Capital, Llc sold 59,288 shares of Starz Entertainment stock. The stock was sold at an average price of $26.31, for a total transaction of $1,559,867.28.
• On Friday, August 21st, Allen Family Capital, Llc sold 156,705 shares of Starz Entertainment stock. The stock was sold at an average price of $26.56, for a total value of $4,162,084.80.

Starz Entertainment Stock Down 3.4%

Shares of STRZ stock traded down $0.76 during trading hours on Thursday, reaching $21.74. 493,168 shares of the stock were exchanged, compared to its average volume of 195,830. Starz Entertainment Corp. has a 12-month low of $8.40 and a 12-month high of $32.58. The business’s fifty day moving average is $24.91 and its two-hundred day moving average is $20.44. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.25 and a quick ratio of 0.25. The firm has a market capitalization of $372.19 million, a P/E ratio of -0.85 and a beta of 2.55.

Starz Entertainment (NASDAQ:STRZ) last announced its quarterly earnings data on Friday, August 7th. The company reported ($11.27) EPS 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 firm had revenue of $307.90 million during the quarter. As a group, research analysts expect that Starz Entertainment Corp. will post -6.12 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on STRZ shares. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $30.00 price objective on shares of Starz Entertainment in a report on Tuesday, August 18th. Citigroup initiated coverage on shares of Starz Entertainment in a research report on Monday, September 14th. They set an “outperform” rating on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Starz Entertainment in a research report on Tuesday. Wall Street Zen downgraded Starz Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Finally, Morgan Stanley set a $30.00 price target on Starz Entertainment in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $32.71.

Hedge Funds Weigh In On Starz Entertainment

Several institutional investors and hedge funds have recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Starz Entertainment during the second quarter worth $35,599,000. Renaissance Technologies LLC acquired a new stake in shares of Starz Entertainment in the first quarter worth approximately $577,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Starz Entertainment in the second quarter valued at approximately $1,411,000. NewEdge Wealth LLC purchased a new stake in Starz Entertainment in the second quarter valued at approximately $13,911,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of Starz Entertainment in the 2nd quarter valued at $9,018,000.

About Starz Entertainment

Starz Entertainment Corp. is a media and entertainment company that operates premium subscription television and streaming services. Its offerings include the STARZ premium network, related linear television channels and the STARZ streaming platform, which provides original series, feature films and licensed entertainment content.

The company’s programming has included original dramas, comedies and franchises, as well as a selection of theatrical and television movies. STARZ content is distributed through traditional pay-TV providers, digital platforms and direct-to-consumer subscriptions, with availability varying by market and distribution partner.

Starz was established in 1994 as a premium television service and was acquired by Lionsgate in 2016.