StarTek, Inc. (NYSE:SRT) was the target of a large growth in short interest in the month of June. As of June 30th, there was short interest totalling 242,200 shares, a growth of 18.7% from the June 15th total of 204,100 shares. Currently, 2.1% of the shares of the company are sold short. Based on an average daily trading volume, of 86,900 shares, the short-interest ratio is currently 2.8 days.

A number of brokerages recently commented on SRT. Lake Street Capital lowered their price objective on StarTek from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Thursday, June 11th. Zacks Investment Research cut shares of StarTek from a “buy” rating to a “hold” rating in a research report on Friday, June 12th. B. Riley cut their price target on StarTek from $10.50 to $6.00 and set a “buy” rating on the stock in a report on Wednesday, April 8th. Finally, ValuEngine upgraded StarTek from a “hold” rating to a “buy” rating in a research report on Thursday, July 2nd.

In other StarTek news, Director Csp Management Ltd acquired 1,543,210 shares of the stock in a transaction that occurred on Monday, June 29th. The stock was acquired at an average price of $4.86 per share, with a total value of $7,500,000.60. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.00% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in SRT. State Street Corp boosted its position in shares of StarTek by 10.8% during the 4th quarter. State Street Corp now owns 254,460 shares of the business services provider’s stock valued at $2,031,000 after purchasing an additional 24,724 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake 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. Barclays PLC lifted its stake in StarTek by 100.8% during the fourth quarter. Barclays PLC now owns 16,911 shares of the business services provider’s stock valued at $135,000 after purchasing an additional 8,489 shares during the last quarter. Citigroup Inc. boosted its holdings in StarTek by 699.8% during the fourth quarter. Citigroup Inc. now owns 3,327 shares of the business services provider’s stock worth $27,000 after buying an additional 2,911 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in StarTek by 4.6% in 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 during the last quarter. 14.28% of the stock is currently owned by hedge funds and other institutional investors.

Shares of StarTek stock traded down $0.09 on Tuesday, hitting $5.15. The company had a trading volume of 53,100 shares, compared to its average volume of 65,926. StarTek has a 52 week low of $2.75 and a 52 week high of $8.30. The company has a market cap of $198.43 million, a PE ratio of -5.15 and a beta of 1.03. The business has a 50-day simple moving average of $4.61 and a 200-day simple moving average of $5.54. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.10 and a quick ratio of 1.10.

StarTek (NYSE:SRT) last issued its quarterly earnings results on Wednesday, June 10th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.05). StarTek had a negative net margin of 5.81% and a negative return on equity of 0.43%. The firm had revenue of $161.18 million for the quarter, compared to the consensus estimate of $163.00 million. On average, equities research analysts predict that StarTek will post -0.71 earnings per share for the current fiscal year.

StarTek Company Profile

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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