StarTek (NYSE:SRT) Trading 5.7% Higher

StarTek, Inc. (NYSE:SRT)’s share price traded up 5.7% during trading on Friday . The stock traded as high as $8.39 and last traded at $8.17. 1,824,742 shares were traded during mid-day trading, an increase of 2,045% from the average session volume of 85,054 shares. The stock had previously closed at $7.73.

Several analysts have recently commented on the company. Zacks Investment Research downgraded StarTek from a “hold” rating to a “sell” rating in a research note on Friday, May 10th. ValuEngine raised StarTek from a “hold” rating to a “buy” rating in a research note on Thursday, April 4th. Finally, Lake Street Capital set a $12.00 price objective on StarTek and gave the stock a “buy” rating in a research note on Friday, May 17th.

The company has a debt-to-equity ratio of 0.74, a current ratio of 1.13 and a quick ratio of 1.13. The firm has a 50 day moving average of $8.00.

StarTek (NYSE:SRT) last issued its quarterly earnings results on Wednesday, May 8th. The business services provider reported ($0.09) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.05) by ($0.04). The business had revenue of $161.14 million for the quarter. StarTek had a negative net margin of 5.21% and a negative return on equity of 8.22%.

In other StarTek news, Director Bharat Rao purchased 274,064 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was bought at an average cost of $7.48 per share, with a total value of $2,049,998.72. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.92% of the company’s stock.

A hedge fund recently raised its stake in StarTek stock. BlackRock Inc. lifted its holdings in shares of StarTek, Inc. (NYSE:SRT) by 0.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 393,187 shares of the business services provider’s stock after acquiring an additional 1,595 shares during the quarter. BlackRock Inc. owned 1.06% of StarTek worth $2,614,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 11.43% of the company’s stock.

About StarTek (NYSE:SRT)

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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