Sterling Construction Company, Inc. (NASDAQ:STRL) Short Interest Update

Sterling Construction Company, Inc. (NASDAQ:STRL) was the target of a significant drop in short interest in the month of June. As of June 30th, there was short interest totalling 849,100 shares, a drop of 8.6% from the May 30th total of 929,000 shares. Based on an average daily trading volume, of 180,700 shares, the short-interest ratio is presently 4.7 days. Approximately 3.4% of the company’s stock are sold short.

STRL has been the subject of a number of research reports. Zacks Investment Research cut Haynes International from a “hold” rating to a “sell” rating in a research report on Wednesday, May 8th. BidaskClub cut Weyco Group from a “sell” rating to a “strong sell” rating in a research report on Saturday. Finally, ValuEngine cut Verso from a “hold” rating to a “sell” rating in a research report on Thursday, May 23rd.

STRL traded down $0.27 during trading on Monday, reaching $13.22. 1,163 shares of the stock traded hands, compared to its average volume of 113,450. The stock has a market cap of $354.82 million, a PE ratio of 14.44, a price-to-earnings-growth ratio of 1.09 and a beta of 1.12. Sterling Construction has a fifty-two week low of $9.71 and a fifty-two week high of $16.07. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.64 and a current ratio of 1.66. The firm’s 50-day moving average price is $13.05.

Sterling Construction (NASDAQ:STRL) last released its quarterly earnings data on Monday, May 6th. The construction company reported $0.07 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.06). The firm had revenue of $223.90 million for the quarter, compared to analyst estimates of $225.85 million. Sterling Construction had a net margin of 2.36% and a return on equity of 14.67%. Sterling Construction’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the business posted $0.09 EPS. On average, equities research analysts expect that Sterling Construction will post 1.13 EPS for the current year.

In other Sterling Construction news, Director Roger A. Cregg bought 10,000 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was acquired at an average price of $11.94 per share, with a total value of $119,400.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.00% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Campbell & CO Investment Adviser LLC raised its holdings in Sterling Construction by 83.0% during the second quarter. Campbell & CO Investment Adviser LLC now owns 36,381 shares of the construction company’s stock valued at $488,000 after buying an additional 16,498 shares in the last quarter. Dalton Greiner Hartman Maher & Co. raised its holdings in Sterling Construction by 27.5% during the second quarter. Dalton Greiner Hartman Maher & Co. now owns 598,124 shares of the construction company’s stock valued at $8,027,000 after buying an additional 129,182 shares in the last quarter. WINTON GROUP Ltd raised its holdings in Sterling Construction by 13.1% during the second quarter. WINTON GROUP Ltd now owns 13,064 shares of the construction company’s stock valued at $175,000 after buying an additional 1,517 shares in the last quarter. Pacific Ridge Capital Partners LLC raised its holdings in Sterling Construction by 13.7% during the first quarter. Pacific Ridge Capital Partners LLC now owns 323,098 shares of the construction company’s stock valued at $4,045,000 after buying an additional 38,952 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its holdings in Sterling Construction by 1,815.3% during the first quarter. O Shaughnessy Asset Management LLC now owns 203,235 shares of the construction company’s stock valued at $2,545,000 after buying an additional 192,624 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

About Sterling Construction

Sterling Construction Company, Inc, together with its subsidiaries, operates as a heavy civil and residential construction company in Arizona, California, Colorado, Hawaii, Nevada, Texas, Utah, and other states in the United States. The company's Heavy Civil Construction segment undertakes heavy civil construction projects, including highways, roads, bridges, airfields, ports, light rail, water, wastewater and storm drainage systems, foundations for multi-family homes, commercial concrete projects, and parking structures.

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