State Street Corp boosted its holdings in StarTek, Inc. (NYSE:SRT) by 17.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 299,825 shares of the business services provider’s stock after purchasing an additional 45,365 shares during the quarter. State Street Corp owned approximately 0.78% of StarTek worth $1,127,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in StarTek by 0.9% in the first quarter. BlackRock Inc. now owns 1,213,745 shares of the business services provider’s stock valued at $4,564,000 after buying an additional 11,156 shares during the last quarter. Geode Capital Management LLC lifted its stake in StarTek by 2.2% in the fourth quarter. Geode Capital Management LLC now owns 166,165 shares of the business services provider’s stock valued at $1,325,000 after buying an additional 3,561 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in StarTek by 3.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 65,986 shares of the business services provider’s stock valued at $527,000 after buying an additional 2,093 shares during the last quarter. UBS Group AG lifted its stake in StarTek by 76.5% in the fourth quarter. UBS Group AG now owns 22,496 shares of the business services provider’s stock valued at $180,000 after buying an additional 9,747 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in StarTek by 4.6% in the fourth quarter. Renaissance Technologies LLC now owns 691,929 shares of the business services provider’s stock valued at $5,522,000 after buying an additional 30,429 shares during the last quarter. 14.28% of the stock is owned by hedge funds and other institutional investors.
NYSE:SRT opened at $4.97 on Wednesday. The stock has a market cap of $187.63 million, a PE ratio of -4.97 and a beta of 1.03. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.10 and a quick ratio of 1.10. StarTek, Inc. has a fifty-two week low of $2.75 and a fifty-two week high of $8.46. The stock’s 50-day moving average is $4.35 and its two-hundred day moving average is $5.64.
StarTek (NYSE:SRT) last announced its quarterly earnings results on Wednesday, June 10th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.05). The firm had revenue of $161.18 million for the quarter, compared to analyst estimates of $163.00 million. StarTek had a negative net margin of 5.81% and a negative return on equity of 0.43%. On average, equities research analysts anticipate that StarTek, Inc. will post -0.71 earnings per share for the current year.
A number of equities research analysts recently weighed in on the stock. B. Riley cut their price objective on shares of StarTek from $10.50 to $6.00 and set a “buy” rating on the stock in a research note on Wednesday, April 8th. Zacks Investment Research cut shares of StarTek from a “buy” rating to a “hold” rating in a research note on Friday, June 12th. Finally, Lake Street Capital lowered their target price on StarTek from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, June 11th.
StarTek, Inc operates as a business process outsourcing company that provides omnichannel customer interactions and technology back-office support solutions. It primarily offers customer engagement consulting, omnichannel engagement, social media, customer intelligence analytics, scientific research, back office, and receivables management services under the Startek and Aegis brands.
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