Sterling Check (NASDAQ:STER) Sees Strong Trading Volume – Here’s Why

Sterling Check Corp. (NASDAQ:STER) shares saw strong trading volume on Tuesday . 446,802 shares were traded during trading, an increase of 15% from the previous session’s volume of 387,604 shares.The stock last traded at $18.00 and had previously closed at $17.15.

Analyst Upgrades and Downgrades

Separately, Citigroup boosted their price target on Sterling Check from $16.20 to $17.50 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $16.20.

Sterling Check Stock Performance

The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $1.71 billion, a price-to-earnings ratio of -100.88 and a beta of 0.49. The stock has a 50-day simple moving average of $16.45 and a 200-day simple moving average of $15.71.

Sterling Check (NASDAQ:STER) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.04). The company had revenue of $200.50 million for the quarter, compared to the consensus estimate of $199.81 million. Sterling Check had a positive return on equity of 7.73% and a negative net margin of 2.07%. Sterling Check’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.28 earnings per share. On average, analysts anticipate that Sterling Check Corp. will post 0.56 earnings per share for the current year.

Insider Buying and Selling

In other Sterling Check news, major shareholder Melanie Laird sold 300,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $17.18, for a total transaction of $5,154,000.00. Following the completion of the transaction, the insider now owns 10,749,576 shares in the company, valued at approximately $184,677,715.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 9.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Quest Partners LLC lifted its holdings in shares of Sterling Check by 7,540.0% in the second quarter. Quest Partners LLC now owns 2,674 shares of the company’s stock valued at $40,000 after buying an additional 2,639 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Sterling Check by 10.7% during the second quarter. The Manufacturers Life Insurance Company now owns 14,178 shares of the company’s stock valued at $210,000 after purchasing an additional 1,372 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Sterling Check during the 3rd quarter valued at $218,000. Blackstone Inc. purchased a new stake in shares of Sterling Check in the first quarter valued at $220,000. Finally, Virtu Financial LLC acquired a new stake in shares of Sterling Check in the first quarter worth $320,000. Institutional investors and hedge funds own 84.34% of the company’s stock.

Sterling Check Company Profile

Sterling Check Corp. provides technology-enabled background and identity verification services in the United States, Canada, Europe, the Middle East and Africa, and the Asia Pacific. The company offers identity verification services, such as telecom and device verification, identification document verification, facial recognition with biometric matching, social security number verification, and live video chat identification proofing; fingerprinting; background checks, including criminal record checks, sex offender registries, civil court records, motor vehicle and driving license records, executive investigations, credit reports, social media searches, and contingent workforce solutions; liens, judgments, and bankruptcies; and sanctions, risk, and compliance checks.