Renaissance Technologies LLC Purchases Shares of 50,200 Starz Entertainment Corp. $STRZ

Renaissance Technologies LLC purchased a new position in shares of Starz Entertainment Corp. (NASDAQ:STRZ) in the first quarter, HoldingsChannel.com reports. The firm purchased 50,200 shares of the company’s stock, valued at approximately $577,000.

Other hedge funds have also recently made changes to their positions in the company. Geode Capital Management LLC acquired a new position in shares of Starz Entertainment in the 2nd quarter valued at about $5,076,000. Russell Investments Group Ltd. grew its stake in Starz Entertainment by 632.9% during the fourth quarter. Russell Investments Group Ltd. now owns 210,771 shares of the company’s stock worth $2,466,000 after purchasing an additional 182,012 shares during the period. Ancora Advisors LLC grew its stake in Starz Entertainment by 547.1% during the third quarter. Ancora Advisors LLC now owns 175,325 shares of the company’s stock worth $2,583,000 after purchasing an additional 148,230 shares during the period. Marshall Wace LLP acquired a new stake in Starz Entertainment during the second quarter worth approximately $2,212,000. Finally, Honeycomb Asset Management LP bought a new stake in Starz Entertainment in the second quarter worth approximately $1,607,000.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of Starz Entertainment in a research note on Wednesday, July 29th. Morgan Stanley set a $30.00 price objective on shares of Starz Entertainment in a research report on Monday, August 10th. B. Riley Financial started coverage on shares of Starz Entertainment in a research note on Tuesday, June 30th. They issued a “buy” rating and a $45.00 price objective for the company. Raymond James Financial reiterated an “outperform” rating and set a $29.00 target price on shares of Starz Entertainment in a research report on Friday, May 8th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $26.00 target price on shares of Starz Entertainment in a research note on Friday, June 5th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Starz Entertainment presently has an average rating of “Hold” and a consensus target price of $30.83.

Starz Entertainment Stock Performance

Shares of Starz Entertainment stock opened at $26.00 on Monday. Starz Entertainment Corp. has a one year low of $8.40 and a one year high of $32.58. The firm has a market capitalization of $445.12 million, a price-to-earnings ratio of -1.02 and a beta of 2.46. The business has a 50-day simple moving average of $27.19 and a 200 day simple moving average of $19.54. The company has a debt-to-equity ratio of 2.05, a current ratio of 0.25 and a quick ratio of 0.25.

Insiders Place Their Bets

In other news, EVP Jason Wyrick sold 2,803 shares of the company’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $25.47, for a total transaction of $71,392.41. Following the transaction, the executive vice president directly owned 27,241 shares of the company’s stock, valued at $693,828.27. This represents a 9.33% 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. Also, insider James M. Kapenstein bought 1,000 shares of the stock in a transaction dated Monday, August 10th. The shares were purchased at an average cost of $25.73 per share, for a total transaction of $25,730.00. Following the completion of the transaction, the insider directly owned 12,302 shares of the company’s stock, valued at $316,530.46. This trade represents a 8.85% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 22.62% of the company’s stock.

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.