State Street Corp Acquires 45,365 Shares of StarTek, Inc. (NYSE:SRT)

State Street Corp grew its holdings in StarTek, Inc. (NYSE:SRT) by 17.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 299,825 shares of the business services provider’s stock after acquiring an additional 45,365 shares during the quarter. State Street Corp’s holdings in StarTek were worth $1,127,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Barclays PLC increased its holdings in shares of StarTek by 100.8% in the fourth quarter. Barclays PLC now owns 16,911 shares of the business services provider’s stock worth $135,000 after acquiring an additional 8,489 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of StarTek by 4.6% during the fourth quarter. Renaissance Technologies LLC now owns 691,929 shares of the business services provider’s stock worth $5,522,000 after buying an additional 30,429 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in StarTek by 6.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 42,344 shares of the business services provider’s stock valued at $338,000 after purchasing an additional 2,742 shares during the last quarter. UBS Group AG boosted its position in StarTek by 76.5% during the fourth quarter. UBS Group AG now owns 22,496 shares of the business services provider’s stock valued at $180,000 after purchasing an additional 9,747 shares during the last quarter. Finally, BlackRock Inc. boosted its position in StarTek by 0.9% during the first quarter. BlackRock Inc. now owns 1,213,745 shares of the business services provider’s stock valued at $4,564,000 after purchasing an additional 11,156 shares during the last quarter. Institutional investors own 14.28% of the company’s stock.

NYSE:SRT opened at $4.97 on Wednesday. The stock has a market cap of $187.63 million, a P/E ratio of -4.97 and a beta of 1.03. The stock has a 50 day simple moving average of $4.35 and a 200 day simple moving average of $5.64. 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, Inc. has a 1-year low of $2.75 and a 1-year high of $8.46.

StarTek (NYSE:SRT) last posted its quarterly earnings data on Wednesday, June 10th. The business services provider reported ($0.02) EPS for the quarter, missing the Zacks’ 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 company had revenue of $161.18 million for the quarter, compared to the consensus estimate of $163.00 million. As a group, sell-side analysts forecast that StarTek, Inc. will post -0.71 EPS for the current year.

Several research analysts recently commented on the company. B. Riley reduced their price target on StarTek from $10.50 to $6.00 and set a “buy” rating for the company in a research report on Wednesday, April 8th. Zacks Investment Research cut StarTek from a “buy” rating to a “hold” rating in a research report on Friday, June 12th. Finally, Lake Street Capital cut their price objective on StarTek from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Thursday, June 11th.

About StarTek

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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Institutional Ownership by Quarter for StarTek (NYSE:SRT)

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