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. “
Other research analysts have also issued research reports about the company. Lake Street Capital cut their price target on StarTek from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, June 11th. ValuEngine upgraded StarTek from a “hold” rating to a “buy” rating in a report on Thursday, July 2nd. Finally, 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.
StarTek (NYSE:SRT) last announced its quarterly earnings results on Wednesday, June 10th. The business services provider reported ($0.02) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.05). The firm had revenue of $161.18 million during the quarter, compared to the consensus estimate of $163.00 million. StarTek had a negative return on equity of 0.43% and a negative net margin of 5.81%. On average, research analysts expect that StarTek will post -0.71 earnings per share for the current fiscal year.
In related news, Director Csp Management Ltd acquired 1,543,210 shares of the stock in a transaction dated Monday, June 29th. The stock was purchased at an average cost of $4.86 per share, with a total value of $7,500,000.60. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.00% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of 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 acquiring an additional 11,156 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of StarTek by 1,745.2% during the first quarter. JPMorgan Chase & Co. now owns 573,017 shares of the business services provider’s stock valued at $2,154,000 after acquiring an additional 541,963 shares during the last quarter. State Street Corp increased its position in shares of StarTek by 17.8% during the first quarter. State Street Corp now owns 299,825 shares of the business services provider’s stock valued at $1,127,000 after acquiring an additional 45,365 shares during the last quarter. Geode Capital Management LLC increased its position in shares of StarTek by 8.3% during the first quarter. Geode Capital Management LLC now owns 179,979 shares of the business services provider’s stock valued at $676,000 after acquiring an additional 13,814 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of StarTek by 3.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 65,986 shares of the business services provider’s stock valued at $527,000 after acquiring an additional 2,093 shares during the last quarter. 14.28% of the stock is owned by hedge funds and other institutional investors.
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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