Coastal Bridge Advisors LLC Purchases Shares of 140,528 Starz Entertainment Corp. $STRZ

Coastal Bridge Advisors LLC purchased a new position in shares of Starz Entertainment Corp. (NASDAQ:STRZ) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 140,528 shares of the company’s stock, valued at approximately $4,056,000.

Several other institutional investors have also added to or reduced their stakes in the business. Legal & General Group Plc bought a new position in shares of Starz Entertainment during the second quarter valued at about $34,000. Russell Investments Group Ltd. bought a new stake in shares of Starz Entertainment in the 2nd quarter valued at about $28,000. Advisory Services Network LLC bought a new stake in shares of Starz Entertainment in the 3rd quarter valued at about $36,000. BNP Paribas Financial Markets boosted its holdings 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 period. Finally, New York State Common Retirement Fund purchased a new stake in Starz Entertainment during the 2nd quarter valued at about $48,000.

Starz Entertainment Stock Performance

NASDAQ:STRZ opened at $27.17 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 2.05. The firm’s fifty day simple moving average is $27.09 and its 200 day simple moving average is $20.66. The stock has a market cap of $465.15 million, a P/E ratio of -1.07 and a beta of 2.46. Starz Entertainment Corp. has a twelve month low of $8.40 and a twelve month high of $32.58.

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

Insider Activity at Starz Entertainment

In related news, CEO Jeffrey Hirsch purchased 10,000 shares of Starz Entertainment stock in a transaction that occurred on Monday, August 10th. The shares were bought at an average price of $24.80 per share, for a total transaction of $248,000.00. Following the completion of the transaction, the chief executive officer directly 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Jason Wyrick sold 2,803 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $25.47, for a total transaction of $71,392.41. Following the completion of the transaction, the executive vice president directly owned 27,241 shares of the company’s stock, valued at approximately $693,828.27. The trade was a 9.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 22.62% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

STRZ has been the topic of a number of analyst reports. Morgan Stanley set a $30.00 price target on Starz Entertainment in a research note on Monday, August 10th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $30.00 price objective on shares of Starz Entertainment in a research note on Tuesday, August 18th. B. Riley Financial initiated coverage on shares of Starz Entertainment in a report on Tuesday, June 30th. They issued a “buy” rating and a $45.00 target price on the stock. Wall Street Zen downgraded shares of Starz Entertainment from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Starz Entertainment in a research report on Wednesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, two have given 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.com, the company has a consensus rating of “Hold” and an average target price of $31.50.

Starz Entertainment 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.