Starz (STRZA) : The traders have covered their outstanding shorts in Starz (STRZA) to the tune of -1,347,206 shares, a change of -21%. As on Jul 29, 2016, the outstanding shorts on the stock were 6,408,610 shares, however, by August 15, 2016, the shorts had reduced to 5,061,404 shares. The covering shows that the traders dont believe that a large downside exists in the stock from current levels. The open short positions equal 6.2% of the free float of the stock. It takes 5 days to cover the outstanding short positions. The stock has an average daily volume of 966,930 shares. The short interest information was released on Wednesday Aug 24th after the market close.
Starz (NASDAQ:STRZA): The stock opened at $31.66 on Wednesday but the bulls could not build on the opening and the stock topped out at $31.75 for the day. The stock traded down to $31.18 during the day, due to lack of any buying support eventually closed down at $31.25 with a loss of -1.04% for the day. The stock had closed at $31.58 on the previous day. The total traded volume was 368,415 shares.
In a related news,The director of Starz, Sagansky Jeffrey sold 3,500 shares at $27.43 on May 9, 2016. The Insider selling transaction had a total value worth of $96,005. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
Starz is an integrated media and entertainment company. Starz is engaged in video programming and development, production, acquisition and distribution of entertainment content. The Company has three segments: Starz Networks, Starz Distribution and Starz Animation. Starz Networks provides premium subscription video programming to multichannel video programming distributors (MVPDs) in the United States, including cable operators, satellite television providers and telecommunications companies. The Starz Distribution segment includes its Anchor Bay Entertainment, Starz Digital and Starz Worldwide Distribution businesses. Starz Animation, through Film Roman, LLC, develops and produces two-dimensional animated content for third party entertainment companies. The Company conducts its operations under the STARZ, ENCORE, MOVIEPLEX, Anchor Bay Entertainment, Starz Digital, Starz Worldwide and Film Roman brand names.