CastleKnight Management LP Sells 64,331 Shares of Starz Entertainment Corp. $STRZ

CastleKnight Management LP lessened its stake in Starz Entertainment Corp. (NASDAQ:STRZ) by 14.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 387,569 shares of the company’s stock after selling 64,331 shares during the quarter. CastleKnight Management LP owned approximately 2.32% of Starz Entertainment worth $4,535,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Russell Investments Group Ltd. bought a new position in shares of Starz Entertainment in the second quarter valued at approximately $28,000. Advisory Services Network LLC bought a new position in shares of Starz Entertainment in the third quarter valued at approximately $36,000. BNP Paribas Financial Markets lifted its holdings in shares of Starz Entertainment by 101.8% in the third quarter. BNP Paribas Financial Markets now owns 2,525 shares of the company’s stock valued at $37,000 after purchasing an additional 1,274 shares in the last quarter. Legal & General Group Plc bought a new position in shares of Starz Entertainment in the second quarter valued at approximately $41,000. Finally, New York State Common Retirement Fund bought a new position in shares of Starz Entertainment in the second quarter valued at approximately $48,000.

Analyst Ratings Changes

A number of analysts recently commented on STRZ shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Starz Entertainment in a research report on Friday, May 1st. Raymond James Financial reaffirmed 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 Starz Entertainment and gave the company an “outperform” rating in a research report on Monday, May 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $26.00 price target on shares of Starz Entertainment in a research report on Friday, June 5th. Finally, JPMorgan Chase & Co. increased their price target on Starz Entertainment from $13.00 to $25.00 and gave the company a “neutral” rating in a research report on Friday, May 29th. 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 stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $28.33.

Insider Buying and Selling

In other Starz Entertainment news, CEO Jeffrey Hirsch acquired 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The stock was bought at an average price of $20.72 per share, with a total value of $207,200.00. Following the completion of the purchase, the chief executive officer owned 55,000 shares of the company’s stock, valued at approximately $1,139,600. This represents a 22.22% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Alison Hoffman sold 13,661 shares of Starz Entertainment stock in a transaction 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 of the company’s stock, valued at $2,022,454.98. This represents a 12.64% decrease in their position. The disclosure for this sale is available in the SEC filing. 22.62% of the stock is owned by corporate insiders.

Starz Entertainment Stock Performance

Shares of STRZ opened at $28.49 on Thursday. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 1.26. The company has a market capitalization of $476.64 million and a price-to-earnings ratio of -1.70. The stock has a 50 day moving average of $21.47 and a 200 day moving average of $14.85. Starz Entertainment Corp. has a 12 month low of $8.40 and a 12 month high of $29.19.

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.