StarTek, Inc. (NYSE:SRT) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Thursday.
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. “
Separately, Lake Street Capital upped their price objective on StarTek from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Thursday, August 10th.
StarTek (NYSE SRT) opened at 11.72 on Thursday. StarTek has a 12-month low of $4.61 and a 12-month high of $14.78. The company has a market capitalization of $186.92 million, a price-to-earnings ratio of 44.73 and a beta of -0.07. The stock has a 50 day moving average price of $12.55 and a 200-day moving average price of $10.31.
StarTek (NYSE:SRT) last posted its quarterly earnings data on Wednesday, August 9th. The business services provider reported $0.03 EPS for the quarter, topping the consensus estimate of $0.02 by $0.01. The firm had revenue of $73.98 million during the quarter, compared to analyst estimates of $76.84 million. StarTek had a return on equity of 9.60% and a net margin of 1.43%. During the same period in the prior year, the business posted ($0.11) EPS. Equities analysts predict that StarTek will post $0.30 EPS for the current fiscal year.
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In other news, Director Arnaud Ajdler sold 119,919 shares of the company’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $11.35, for a total value of $1,361,080.65. Following the completion of the sale, the director now directly owns 37,507 shares in the company, valued at approximately $425,704.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 17.80% of the company’s stock.
Several large investors have recently bought and sold shares of SRT. Citigroup Inc. bought a new stake in StarTek during the second quarter valued at approximately $101,000. Nationwide Fund Advisors increased its position in shares of StarTek by 207.7% in the second quarter. Nationwide Fund Advisors now owns 8,504 shares of the business services provider’s stock valued at $104,000 after buying an additional 5,740 shares in the last quarter. New York State Common Retirement Fund purchased a new position in shares of StarTek during the second quarter valued at $133,000. Cornerstone Capital Management Holdings LLC. purchased a new position in shares of StarTek during the second quarter valued at $146,000. Finally, KCG Holdings Inc. purchased a new position in shares of StarTek during the first quarter valued at $123,000. Hedge funds and other institutional investors own 44.20% of the company’s stock.
StarTek, Inc is a customer engagement business process outsourcing (BPO) services provider, delivering customer care solutions. The Company operates through three segments: Domestic, Nearshore and Offshore. As of December 31, 2016, its Domestic segment included the operations of 13 facilities in the United States and one facility in Canada; its Offshore segment included the operations of four facilities in the Philippines, and its Nearshore segment included the operations of two facilities in Honduras and one facility in Jamaica.
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