Bharat Rao Buys 274,064 Shares of StarTek, Inc. (SRT) Stock

StarTek, Inc. (NYSE:SRT) Director Bharat Rao acquired 274,064 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The shares were acquired at an average cost of $7.48 per share, for a total transaction of $2,049,998.72. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

StarTek stock opened at $8.43 on Wednesday. StarTek, Inc. has a 52 week low of $5.26 and a 52 week high of $8.51. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.13 and a quick ratio of 1.33.

StarTek (NYSE:SRT) last posted its quarterly earnings results on Wednesday, May 8th. The business services provider reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). StarTek had a negative return on equity of 8.22% and a negative net margin of 5.21%. The business had revenue of $161.14 million for the quarter.

Institutional investors have recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. bought a new position in StarTek during the fourth quarter worth about $38,000. Citigroup Inc. bought a new position in StarTek during the first quarter worth about $141,000. US Bancorp DE bought a new position in StarTek during the first quarter worth about $197,000. ExodusPoint Capital Management LP grew its holdings in StarTek by 272.1% during the first quarter. ExodusPoint Capital Management LP now owns 39,440 shares of the business services provider’s stock worth $311,000 after purchasing an additional 28,840 shares during the period. Finally, Raymond James & Associates grew its holdings in StarTek by 6.2% during the first quarter. Raymond James & Associates now owns 101,052 shares of the business services provider’s stock worth $796,000 after purchasing an additional 5,923 shares during the period. Institutional investors and hedge funds own 10.34% of the company’s stock.

A number of equities analysts have issued reports on the company. Lake Street Capital set a $12.00 target price on StarTek and gave the stock a “buy” rating in a report on Friday, May 17th. ValuEngine upgraded StarTek from a “hold” rating to a “buy” rating in a report on Thursday, April 4th. Finally, Zacks Investment Research cut StarTek from a “hold” rating to a “sell” rating in a report on Friday, May 10th.

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About StarTek

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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