Starz Entertainment (NASDAQ:STRZ) Shares Up 6.3% – Still a Buy?

Starz Entertainment Corp. (NASDAQ:STRZ) traded up 6.3% during mid-day trading on Monday . The company traded as high as $28.68 and last traded at $29.20. Approximately 94,956 shares changed hands during mid-day trading, a decline of 43% from the average session volume of 165,918 shares. The stock had previously closed at $27.46.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Morgan Stanley set a $30.00 price objective on Starz Entertainment in a report on Monday, August 10th. Robert W. Baird set a $30.00 target price on Starz Entertainment and gave the stock an “outperform” rating in a report on Monday, May 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of Starz Entertainment in a research report on Wednesday, July 29th. Raymond James Financial restated an “outperform” rating and set a $29.00 price target on shares of Starz Entertainment in a research note on Friday, May 8th. Finally, B. Riley Financial assumed coverage on Starz Entertainment in a report on Tuesday, June 30th. They issued a “buy” rating and a $45.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Starz Entertainment currently has a consensus rating of “Hold” and a consensus price target of $31.50.

Starz Entertainment Price Performance

The company has a current ratio of 0.25, a quick ratio of 0.25 and a debt-to-equity ratio of 2.05. The firm’s 50-day moving average price is $27.08 and its two-hundred day moving average price is $20.11. The stock has a market cap of $503.19 million, a PE ratio of -1.15 and a beta of 2.46.

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

Insider Activity

In related news, insider James M. Kapenstein acquired 1,000 shares of the firm’s 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 directly owned 12,302 shares of the company’s stock, valued at $316,530.46. This trade represents a 8.85% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jeffrey Hirsch acquired 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The shares were bought at an average cost of $24.80 per share, for a total transaction of $248,000.00. Following the transaction, the chief executive officer owned 65,000 shares of the company’s stock, valued at $1,612,000. This represents a 18.18% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Company insiders own 22.62% of the company’s stock.

Institutional Trading of Starz Entertainment

Hedge funds have recently modified their holdings of the company. BlackRock Inc. purchased a new position in Starz Entertainment in the second quarter worth $35,599,000. NewEdge Wealth LLC acquired a new stake in shares of Starz Entertainment in the 2nd quarter worth $13,911,000. Ancora Advisors LLC purchased a new position in Starz Entertainment during the 2nd quarter worth $11,826,000. Geode Capital Management LLC acquired a new position in Starz Entertainment during the 2nd quarter valued at about $5,076,000. Finally, Bank of New York Mellon Corp purchased a new stake in Starz Entertainment in the second quarter valued at about $9,018,000.

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.