StarTek, Inc. (NYSE:SRT) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued 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. “

Shares of StarTek (NYSE:SRT) traded up 0.0424% during midday trading on Thursday, hitting $12.5053. The stock had a trading volume of 32,193 shares. The firm has a market capitalization of $198.81 million, a PE ratio of 95.4603 and a beta of -0.07. The company’s 50 day moving average price is $11.99 and its 200-day moving average price is $9.75. StarTek has a 1-year low of $4.16 and a 1-year high of $14.78.

ILLEGAL ACTIVITY WARNING: This article was first posted by American Banking News and is owned by of American Banking News. If you are accessing this article on another website, it was illegally stolen and reposted in violation of United States and international copyright and trademark law. The correct version of this article can be accessed at https://www.americanbankingnews.com/2017/07/20/startek-inc-srt-lowered-to-hold-at-zacks-investment-research.html.

In other StarTek news, Director Arnaud Ajdler sold 94,603 shares of the stock in a transaction dated Thursday, June 1st. The shares were sold at an average price of $11.48, for a total value of $1,086,042.44. Following the transaction, the director now directly owns 37,507 shares of the company’s stock, valued at approximately $430,580.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 17.80% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. KCG Holdings Inc. acquired a new position in shares of StarTek during the first quarter worth about $123,000. O Shaughnessy Asset Management LLC raised 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 in the last quarter. Bank of New York Mellon Corp raised its stake in StarTek by 4.7% in the first quarter. Bank of New York Mellon Corp now owns 22,443 shares of the business services provider’s stock valued at $195,000 after buying an additional 1,000 shares in the last quarter. Russell Investments Group Ltd. raised its stake in StarTek by 202.4% in the first quarter. Russell Investments Group Ltd. now owns 30,204 shares of the business services provider’s stock valued at $262,000 after buying an additional 20,216 shares in the last quarter. Finally, Acadian Asset Management LLC raised its stake in StarTek by 70.6% in the first quarter. Acadian Asset Management LLC now owns 150,761 shares of the business services provider’s stock valued at $1,307,000 after buying an additional 62,407 shares in the last quarter. 45.43% of the stock is currently owned by hedge funds and other institutional investors.

About StarTek

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.

Get a free copy of the Zacks research report on StarTek (SRT)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for StarTek Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for StarTek Inc. and related companies with MarketBeat.com's FREE daily email newsletter.