Starz (STRZA) Stake Cut by Mad River Investors
Mad River Investors cut its stake in shares of Starz (NASDAQ:STRZA) by 8.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,243 shares of the company’s stock after selling 6,289 shares during the period. Starz accounts for about 2.6% of Mad River Investors’ holdings, making the stock its 14th largest position. Mad River Investors’ holdings in Starz were worth $2,102,000 at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of STRZA. Balter Liquid Alternatives LLC purchased a new stake in shares of Starz during the first quarter worth $303,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Starz during the first quarter worth $350,000. BlackRock Inc. raised its stake in shares of Starz by 487.4% in the first quarter. BlackRock Inc. now owns 15,303 shares of the company’s stock worth $403,000 after buying an additional 12,698 shares in the last quarter. Prudential Financial Inc. purchased a new stake in shares of Starz during the first quarter worth $435,000. Finally, Acadian Asset Management LLC purchased a new stake in shares of Starz during the second quarter worth $439,000. Institutional investors own 83.59% of the company’s stock.
Shares of Starz (NASDAQ:STRZA) traded up 0.10% on Tuesday, reaching $30.52. The company’s stock had a trading volume of 395,394 shares. The stock has a 50 day moving average of $31.29 and a 200-day moving average of $28.94. Starz has a 12 month low of $20.33 and a 12 month high of $38.81. The firm has a market cap of $2.96 billion, a price-to-earnings ratio of 15.11 and a beta of 0.28.
Starz (NASDAQ:STRZA) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.54 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.54. Starz had a return on equity of 94.59% and a net margin of 12.57%. The company had revenue of $402.60 million for the quarter, compared to the consensus estimate of $421.17 million. During the same quarter last year, the business posted $0.59 earnings per share. The firm’s revenue was down 3.6% compared to the same quarter last year. On average, analysts anticipate that Starz will post $2.28 EPS for the current year.
A number of equities research analysts recently weighed in on the company. Zacks Investment Research upgraded Starz from a “sell” rating to a “hold” rating in a research report on Wednesday, October 5th. Brean Capital assumed coverage on Starz in a research report on Tuesday, September 6th. They set a “hold” rating and a $27.00 price objective on the stock. Credit Agricole SA lowered Starz from an “outperform” rating to an “underperform” rating in a research report on Friday, July 29th. Pivotal Research lowered Starz from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $32.00 to $31.00 in a research report on Friday, July 29th. Finally, FBN Securities upgraded Starz from a “sector perform” rating to an “outperform” rating in a research report on Wednesday, August 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $33.30.
In related news, Director Daniel E. Sanchez sold 1,775 shares of the stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $31.44, for a total value of $55,806.00. Following the sale, the director now owns 8,633 shares in the company, valued at $271,421.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Susan M. Lyne sold 1,000 shares of the stock in a transaction on 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 sale, the director now owns 11,707 shares in the company, valued at approximately $366,780.31. The disclosure for this sale can be found here. 8.50% of the stock is owned by corporate insiders.
Starz Company Profile
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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