StockNews.com Begins Coverage on Startek (NYSE:SRT)

StockNews.com assumed coverage on shares of Startek (NYSE:SRT – Get Rating) in a research note issued on Wednesday. The firm set a “buy” rating on the business services provider’s stock.

Separately, B. Riley reissued a “buy” rating and set a $5.00 target price on shares of Startek in a report on Wednesday, March 29th.

Startek Price Performance

SRT stock opened at $2.94 on Wednesday. The firm has a market cap of $118.54 million, a P/E ratio of -73.50 and a beta of 1.42. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.26. The company’s 50-day moving average price is $3.45 and its two-hundred day moving average price is $3.68. Startek has a 12 month low of $2.60 and a 12 month high of $4.53.

Startek (NYSE:SRT – Get Rating) last announced its quarterly earnings results on Monday, March 27th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.19. The company had revenue of $92.96 million for the quarter, compared to analyst estimates of $169.88 million. Startek had a negative net margin of 0.37% and a positive return on equity of 9.02%. On average, analysts anticipate that Startek will post 0.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Beryl Capital Management LLC raised its holdings in Startek by 41.9% during the third quarter. Beryl Capital Management LLC now owns 872,089 shares of the business services provider’s stock worth $2,616,000 after buying an additional 257,315 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Startek by 1.6% during the first quarter. Dimensional Fund Advisors LP now owns 744,686 shares of the business services provider’s stock valued at $3,299,000 after buying an additional 11,734 shares during the period. Vanguard Group Inc. grew its position in Startek by 1.4% during the third quarter. Vanguard Group Inc. now owns 535,877 shares of the business services provider’s stock valued at $1,607,000 after buying an additional 7,500 shares during the period. Millennium Management LLC grew its position in Startek by 359.7% during the second quarter. Millennium Management LLC now owns 130,476 shares of the business services provider’s stock valued at $377,000 after buying an additional 102,091 shares during the period. Finally, Citadel Advisors LLC bought a new position in Startek during the second quarter valued at about $173,000. Institutional investors and hedge funds own 16.56% of the company’s stock.

About Startek

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Startek, Inc engages in the provision of global customer experience solutions. It operates under the Startek and Aegis brands, which helps the large global companies to connect emotionally with their customers, solve issues, and improve net promoter scores and other customer-facing performance metrics.