140,528 Shares in Starz Entertainment Corp. $STRZ Acquired by Coastal Bridge Advisors LLC

Coastal Bridge Advisors LLC acquired a new stake in Starz Entertainment Corp. (NASDAQ:STRZ) in the second quarter, according to its most recent filing with the SEC. The fund acquired 140,528 shares of the company’s stock, valued at approximately $4,056,000. Coastal Bridge Advisors LLC owned approximately 0.84% of Starz Entertainment at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Legal & General Group Plc purchased a new stake in shares of Starz Entertainment during the second quarter worth $34,000. Russell Investments Group Ltd. purchased a new position in shares of Starz Entertainment in the second quarter valued at $28,000. Advisory Services Network LLC bought a new stake in shares of Starz Entertainment during the 3rd quarter valued at $36,000. BNP Paribas Financial Markets raised its stake in shares of Starz Entertainment by 101.8% during the 3rd 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 during the period. Finally, New York State Common Retirement Fund purchased a new stake in Starz Entertainment during the 2nd quarter worth about $48,000.

Starz Entertainment Trading Down 4.8%

Shares of Starz Entertainment stock opened at $27.17 on Friday. Starz Entertainment Corp. has a 1 year low of $8.40 and a 1 year high of $32.58. The firm has a market cap of $465.15 million, a PE ratio of -1.07 and a beta of 2.46. 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 company has a 50 day simple moving average of $27.09 and a two-hundred day simple moving average of $20.66.

Starz Entertainment (NASDAQ:STRZ) last issued its quarterly earnings results on Friday, August 7th. The company reported ($11.27) EPS for the quarter, missing analysts’ consensus estimates of ($0.59) by ($10.68). The company had revenue of $307.90 million during the quarter. Starz Entertainment had a negative return on equity of 25.64% and a negative net margin of 33.98%. Analysts expect that Starz Entertainment Corp. will post -6.12 earnings per share for the current fiscal year.

Analyst Ratings Changes

STRZ has been the subject of a number of recent analyst reports. Wall Street Zen lowered Starz Entertainment from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Robert W. Baird set a $30.00 price target on shares of Starz Entertainment and gave the stock an “outperform” rating in a report on Monday, May 11th. Weiss Ratings restated a “sell (d-)” rating on shares of Starz Entertainment in a research report on Wednesday, July 29th. JPMorgan Chase & Co. boosted their price objective on shares of Starz Entertainment from $13.00 to $25.00 and gave the company a “neutral” rating in a research note on Friday, May 29th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $29.00 target price on shares of Starz Entertainment in a report on Friday, May 8th. 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 issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $31.50.

Insider Buying and Selling

In related news, CEO Jeffrey Hirsch bought 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 10th. The stock was bought at an average cost of $24.80 per share, for a total transaction of $248,000.00. Following the completion of the transaction, the chief executive officer owned 65,000 shares of the company’s stock, valued at approximately $1,612,000. The trade was a 18.18% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James M. Kapenstein bought 1,000 shares of Starz Entertainment stock in a transaction that occurred on Monday, August 10th. The stock was purchased at an average cost of $25.73 per share, for a total transaction of $25,730.00. Following the purchase, the insider owned 12,302 shares of the company’s stock, valued at $316,530.46. The trade was a 8.85% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 22.62% of the stock is owned by company insiders.

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.