According to Zacks, “StarTek, Inc. is a global provider of process management services and owns and operates branded vertical market Internet web sites. Their process management service platforms include E-commerce support and fulfillment, provisioning management for telecommunications systems, high-end inbound technical support, and an offering of supply chain management services. As an outsourcer of process management services as its core business, StarTek allows its clients to focus on their primary business, reduce overhead, replace fixed costs with variable costs, and reduce working capital needs. “
Several other brokerages also recently commented on SRT. Lake Street Capital reduced their target price on StarTek from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, June 11th. ValuEngine upgraded StarTek from a “hold” rating to a “buy” rating in a research note on Thursday, July 2nd. Finally, B. Riley reduced their target price on StarTek from $10.50 to $6.00 and set a “buy” rating for the company in a research note on Wednesday, April 8th.
Shares of NYSE SRT opened at $4.88 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.76. StarTek has a 12 month low of $2.75 and a 12 month high of $8.30. The stock has a 50 day moving average of $4.92 and a 200-day moving average of $5.16.
StarTek (NYSE:SRT) last issued its earnings results on Wednesday, June 10th. The business services provider reported ($0.02) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.03 by ($0.05). StarTek had a negative return on equity of 0.43% and a negative net margin of 5.81%. The business had revenue of $161.18 million for the quarter, compared to the consensus estimate of $163.00 million. On average, equities analysts anticipate that StarTek will post -0.71 earnings per share for the current year.
In other news, Director Csp Management Ltd purchased 1,543,210 shares of StarTek stock in a transaction that occurred on Monday, June 29th. The stock was acquired at an average cost of $4.86 per share, for a total transaction of $7,500,000.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.00% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SRT. Goldman Sachs Group Inc. raised its holdings in StarTek by 3.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 65,986 shares of the business services provider’s stock valued at $527,000 after acquiring an additional 2,093 shares in the last quarter. Citigroup Inc. raised its holdings in StarTek by 699.8% in the 4th quarter. Citigroup Inc. now owns 3,327 shares of the business services provider’s stock valued at $27,000 after acquiring an additional 2,911 shares in the last quarter. Geode Capital Management LLC raised its holdings in StarTek by 2.2% in the 4th quarter. Geode Capital Management LLC now owns 166,165 shares of the business services provider’s stock valued at $1,325,000 after acquiring an additional 3,561 shares in the last quarter. UBS Group AG raised its holdings in StarTek by 76.5% in the 4th quarter. UBS Group AG now owns 22,496 shares of the business services provider’s stock valued at $180,000 after acquiring an additional 9,747 shares in the last quarter. Finally, BlackRock Inc. raised its holdings in StarTek by 0.9% in the 1st quarter. BlackRock Inc. now owns 1,213,745 shares of the business services provider’s stock valued at $4,564,000 after acquiring an additional 11,156 shares in the last quarter. Institutional investors and hedge funds own 14.28% of the company’s stock.
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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