Kornitzer Capital Management Inc. KS Sells 28,105 Shares of Starz Entertainment Corp. $STRZ

Kornitzer Capital Management Inc. KS lowered its stake in shares of Starz Entertainment Corp. (NASDAQ:STRZ) by 51.3% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 26,687 shares of the company’s stock after selling 28,105 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Starz Entertainment were worth $312,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Alpine Global Management LLC bought a new position in Starz Entertainment during the third quarter valued at about $1,948,000. Huber Capital Management LLC grew its position in Starz Entertainment by 40.5% during the third quarter. Huber Capital Management LLC now owns 136,963 shares of the company’s stock valued at $2,017,000 after buying an additional 39,492 shares during the period. Royce & Associates LP grew its position in Starz Entertainment by 20.2% during the third quarter. Royce & Associates LP now owns 362,645 shares of the company’s stock valued at $5,342,000 after buying an additional 60,819 shares during the period. BNP Paribas Financial Markets grew its position in Starz Entertainment by 101.8% during the third quarter. BNP Paribas Financial Markets now owns 2,525 shares of the company’s stock valued at $37,000 after buying an additional 1,274 shares during the period. Finally, Advisory Services Network LLC bought a new position in Starz Entertainment during the third quarter valued at about $36,000.

Insider Activity

In other news, major shareholder Liberty 77 Capital L.P. sold 1,803,786 shares of the stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $13.86, for a total value of $25,000,473.96. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 22.62% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on STRZ. Morgan Stanley set a $20.00 price target on shares of Starz Entertainment in a research report on Thursday. Weiss Ratings reiterated a “sell (d-)” rating on shares of Starz Entertainment in a research report on Friday. Two equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Starz Entertainment has an average rating of “Hold” and a consensus price target of $21.40.

Starz Entertainment Stock Performance

Shares of Starz Entertainment stock opened at $19.75 on Monday. Starz Entertainment Corp. has a 12-month low of $8.00 and a 12-month high of $22.98. The company has a market cap of $330.42 million and a price-to-earnings ratio of -3.25. The company has a current ratio of 0.19, a quick ratio of 0.19 and a debt-to-equity ratio of 0.92. The company’s 50-day moving average price is $14.09 and its 200-day moving average price is $11.93.

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.