Alpine Associates Management Inc. Boosts Stake in Sterling Check Corp. (NASDAQ:STER)

Alpine Associates Management Inc. raised its position in Sterling Check Corp. (NASDAQ:STER) by 4.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,577,869 shares of the company’s stock after purchasing an additional 99,949 shares during the quarter. Sterling Check accounts for approximately 2.0% of Alpine Associates Management Inc.’s holdings, making the stock its 13th biggest holding. Alpine Associates Management Inc. owned approximately 2.63% of Sterling Check worth $43,102,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in STER. Natixis purchased a new stake in Sterling Check in the 1st quarter worth about $1,006,000. Gabelli Funds LLC purchased a new stake in Sterling Check in the 1st quarter worth about $1,475,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new stake in Sterling Check in the 1st quarter worth about $1,449,000. Quadrature Capital Ltd purchased a new stake in Sterling Check in the 1st quarter worth about $921,000. Finally, Magnetar Financial LLC purchased a new stake in Sterling Check in the 1st quarter worth about $18,939,000. 84.34% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, major shareholder Melanie Laird sold 300,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $17.18, for a total value of $5,154,000.00. Following the completion of the sale, the insider now owns 10,749,576 shares in the company, valued at approximately $184,677,715.68. The trade was a 2.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 9.90% of the company’s stock.

Sterling Check Stock Performance

NASDAQ STER opened at $16.74 on Wednesday. Sterling Check Corp. has a one year low of $10.00 and a one year high of $18.04. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.62 and a current ratio of 1.62. The company has a market capitalization of $1.64 billion, a price-to-earnings ratio of -98.47 and a beta of 0.48. The company’s 50-day simple moving average is $16.79 and its two-hundred day simple moving average is $15.93.

Analyst Ratings Changes

Separately, Citigroup increased their price objective on shares of Sterling Check from $16.20 to $17.50 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, Sterling Check currently has an average rating of “Hold” and an average target price of $16.75.

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.