Starz Entertainment (NASDAQ:STRZ) Reaches New 12-Month High on Analyst Upgrade

Starz Entertainment Corp. (NASDAQ:STRZ)’s share price hit a new 52-week high on Wednesday after B. Riley Financial upgraded the stock to a strong-buy rating. The company traded as high as $32.28 and last traded at $31.4750, with a volume of 39821 shares. The stock had previously closed at $28.86.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. upped their target price on Starz Entertainment from $13.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, May 29th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $26.00 price target on shares of Starz Entertainment in a research report on Friday, June 5th. Raymond James Financial restated an “outperform” rating and issued a $29.00 price target on shares of Starz Entertainment in a report on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Starz Entertainment in a research report on Friday, May 1st. Finally, Morgan Stanley lifted their price objective on shares of Starz Entertainment from $20.00 to $21.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Two investment analysts have 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 data from MarketBeat, Starz Entertainment currently has a consensus rating of “Moderate Buy” and an average price target of $30.71.

Insiders Place Their Bets

In other Starz Entertainment news, CEO Jeffrey Hirsch bought 10,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average cost of $20.72 per share, with a total value of $207,200.00. Following the completion of the transaction, the chief executive officer owned 55,000 shares in the company, valued at $1,139,600. The trade was a 22.22% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott D. Macdonald purchased 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was acquired at an average price of $20.59 per share, for a total transaction of $102,950.00. Following the purchase, the insider owned 18,757 shares of the company’s stock, valued at approximately $386,206.63. This represents a 36.35% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 22.62% of the company’s stock.

Hedge Funds Weigh In On Starz Entertainment

Institutional investors have recently made changes to their positions in the business. Russell Investments Group Ltd. acquired a new stake in shares of Starz Entertainment during the second quarter worth approximately $28,000. Advisory Services Network LLC acquired a new stake in Starz Entertainment in the third quarter valued at $36,000. BNP Paribas Financial Markets boosted its stake in 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 acquiring an additional 1,274 shares during the last quarter. Legal & General Group Plc acquired a new position in Starz Entertainment during the 2nd quarter worth $41,000. Finally, New York State Common Retirement Fund acquired a new position in Starz Entertainment during the 2nd quarter worth $48,000.

Starz Entertainment Price Performance

The company’s 50-day moving average price is $24.08 and its two-hundred day moving average price is $16.18. The company has a market cap of $485.00 million, a P/E ratio of -1.73 and a beta of 2.35. The company has a current ratio of 0.31, a quick ratio of 0.31 and a debt-to-equity ratio of 1.26.

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.