Connor Clark & Lunn Investment Management Ltd. Acquires New Position in Starz Entertainment Corp. $STRZ

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Starz Entertainment Corp. (NASDAQ:STRZ) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 48,885 shares of the company’s stock, valued at approximately $1,411,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. NewEdge Wealth LLC acquired a new stake in shares of Starz Entertainment during the 2nd quarter valued at $13,911,000. BlackRock Inc. acquired a new position in shares of Starz Entertainment in the second quarter worth $35,599,000. Deutsche Bank AG acquired a new position in shares of Starz Entertainment in the second quarter worth $342,000. Persistent Asset Partners Ltd purchased a new stake in shares of Starz Entertainment during the second quarter worth $196,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Starz Entertainment during the second quarter worth $9,018,000.

Insiders Place Their Bets

In other Starz Entertainment news, EVP Jason Wyrick sold 2,803 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were 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 owned 27,241 shares of the company’s stock, valued at $693,828.27. The trade was a 9.33% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey Hirsch purchased 10,000 shares of the firm’s stock in a transaction on Monday, August 10th. The shares were purchased at an average price of $24.80 per share, with a total value of $248,000.00. Following the completion of the acquisition, the chief executive officer directly owned 65,000 shares of the company’s stock, valued at approximately $1,612,000. This trade 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.

Analyst Upgrades and Downgrades

A number of research analysts have commented on STRZ shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $30.00 target price on shares of Starz Entertainment in a research note on Tuesday, August 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Starz Entertainment in a report on Wednesday, July 29th. Morgan Stanley set a $30.00 price target on Starz Entertainment in a research note on Monday, August 10th. JPMorgan Chase & Co. increased their price objective on Starz Entertainment from $13.00 to $25.00 and gave the stock a “neutral” rating in a report on Friday, May 29th. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $29.00 price objective on shares of Starz Entertainment in a research report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Starz Entertainment presently has an average rating of “Hold” and an average target price of $31.50.

Starz Entertainment Trading Up 2.1%

NASDAQ:STRZ opened at $27.75 on Friday. The company’s 50 day moving average is $27.08 and its 200-day moving average is $20.70. The company has a quick ratio of 0.25, a current ratio of 0.25 and a debt-to-equity ratio of 2.05. Starz Entertainment Corp. has a 12 month low of $8.40 and a 12 month high of $32.58. The firm has a market cap of $475.19 million, a price-to-earnings ratio of -1.09 and a beta of 2.46.

Starz Entertainment (NASDAQ:STRZ) last posted 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). Starz Entertainment had a negative return on equity of 25.64% and a negative net margin of 33.98%.The firm had revenue of $307.90 million for the quarter. Equities analysts anticipate that Starz Entertainment Corp. will post -6.12 EPS for the current year.

Starz Entertainment Company 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.