JPMorgan Chase & Co. Sells 21,710 Shares of Starz (STRZA)
JPMorgan Chase & Co. cut its stake in shares of Starz (NASDAQ:STRZA) by 15.5% during the second quarter, Holdings Channel reports. The institutional investor owned 118,182 shares of the company’s stock after selling 21,710 shares during the period. JPMorgan Chase & Co. owned approximately 0.12% of Starz worth $3,534,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. River Road Asset Management LLC bought a new stake in shares of Starz during the second quarter worth about $11,302,000. LSV Asset Management bought a new stake in shares of Starz during the second quarter worth about $10,514,000. Renaissance Technologies LLC increased its stake in shares of Starz by 324.7% in the first quarter. Renaissance Technologies LLC now owns 440,000 shares of the company’s stock worth $11,585,000 after buying an additional 336,400 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Starz by 1,603.6% in the second quarter. Ameriprise Financial Inc. now owns 225,721 shares of the company’s stock worth $6,755,000 after buying an additional 212,471 shares during the period. Finally, Old Mutual Global Investors UK Ltd. increased its stake in shares of Starz by 166.9% in the second quarter. Old Mutual Global Investors UK Ltd. now owns 226,697 shares of the company’s stock worth $6,782,000 after buying an additional 141,762 shares during the period. 83.59% of the stock is owned by hedge funds and other institutional investors.
Shares of Starz (NASDAQ:STRZA) traded up 0.26% during trading on Tuesday, hitting $30.57. The stock had a trading volume of 20,211 shares. The firm has a market cap of $2.97 billion, a price-to-earnings ratio of 15.13 and a beta of 0.28. Starz has a 12-month low of $20.33 and a 12-month high of $38.81. The stock has a 50-day moving average of $31.29 and a 200 day moving average of $28.94.
Starz (NASDAQ:STRZA) last issued its earnings results on Thursday, July 28th. The company reported $0.54 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.54. Starz had a return on equity of 94.59% and a net margin of 12.57%. The company earned $402.60 million during the quarter, compared to the consensus estimate of $421.17 million. During the same quarter in the prior year, the business earned $0.59 earnings per share. The company’s revenue was down 3.6% compared to the same quarter last year. On average, analysts predict that Starz will post $2.28 earnings per share for the current fiscal year.
A number of research firms have recently weighed in on STRZA. FBR & Co increased their price target on Starz from $26.00 to $32.00 and gave the stock an “outperform” rating in a report on Friday, July 1st. Zacks Investment Research cut Starz from a “buy” rating to a “hold” rating in a report on Tuesday, August 2nd. Brean Capital began coverage on Starz in a report on Tuesday, September 6th. They set a “hold” rating and a $27.00 price target for the company. FBN Securities upgraded Starz from a “sector perform” rating to an “outperform” rating in a report on Wednesday, August 3rd. Finally, Pivotal Research cut Starz from a “buy” rating to a “hold” rating and lowered their price target for the stock from $32.00 to $31.00 in a report on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $33.30.
In related news, Director Susan M. Lyne sold 1,000 shares of the stock in a transaction dated Monday, August 22nd. The stock was sold at an average price of $31.33, for a total value of $31,330.00. Following the completion of the transaction, the director now owns 11,707 shares of the company’s stock, valued at $366,780.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Daniel E. Sanchez sold 1,775 shares of the stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $31.44, for a total value of $55,806.00. Following the completion of the transaction, the director now directly owns 8,633 shares of the company’s stock, valued at approximately $271,421.52. The disclosure for this sale can be found here. 8.50% of the stock is owned by corporate insiders.
Starz is an integrated media and entertainment company. The Company provides subscription video programming in the United States to cable operators, satellite television providers, telecommunications companies and online video providers. The Company’s segments include Starz Networks and Starz Distribution.
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