StarTek, Inc. (SRT) Lifted to “Buy” at Zacks Investment Research
StarTek, Inc. (NYSE:SRT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The firm presently has a $14.00 price objective on the business services provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.46% from the stock’s previous close.
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. “
Shares of StarTek (NYSE:SRT) opened at 12.56 on Tuesday. StarTek has a 12-month low of $4.15 and a 12-month high of $14.78. The stock’s 50 day moving average is $11.22 and its 200-day moving average is $9.34. The stock has a market capitalization of $199.68 million, a price-to-earnings ratio of 95.88 and a beta of -0.07.
In related news, Director Arnaud Ajdler sold 119,919 shares of the company’s stock in a transaction dated Friday, May 26th. The shares were sold at an average price of $11.35, for a total transaction of $1,361,080.65. Following the transaction, the director now directly owns 37,507 shares in the company, valued at approximately $425,704.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 17.80% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. Engine Capital Management LLC boosted its stake in StarTek by 8,617.8% in the first quarter. Engine Capital Management LLC now owns 784,425 shares of the business services provider’s stock valued at $6,817,000 after buying an additional 775,427 shares during the period. KCG Holdings Inc. bought a new stake in StarTek during the first quarter valued at about $123,000. Renaissance Technologies LLC boosted its stake in StarTek by 3.9% in the first quarter. Renaissance Technologies LLC now owns 634,300 shares of the business services provider’s stock valued at $5,512,000 after buying an additional 23,900 shares during the period. Dimensional Fund Advisors LP boosted its stake in StarTek by 3.2% in the first quarter. Dimensional Fund Advisors LP now owns 954,100 shares of the business services provider’s stock valued at $8,291,000 after buying an additional 29,596 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its stake in StarTek by 393.6% in the first quarter. O Shaughnessy Asset Management LLC now owns 17,104 shares of the business services provider’s stock valued at $149,000 after buying an additional 13,639 shares during the period. 45.43% of the stock is owned by institutional investors.
StarTek Company Profile
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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