Sterling Check (NASDAQ:STER) Sees Unusually-High Trading Volume - Here's Why

Sterling Check Corp. (NASDAQ:STER - Get Free Report) saw unusually-strong trading volume on Tuesday . Approximately 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 target price on Sterling Check from $16.20 to $17.50 and gave the company a "neutral" rating in a report on Wednesday, September 25th. Five analysts have rated the stock with a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, Sterling Check has an average rating of "Hold" and a consensus target price of $16.20.

Sterling Check Price Performance

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 $1.73 billion, a PE ratio of -102.94 and a beta of 0.49. The company's 50-day simple moving average is $16.45 and its 200-day simple moving average is $15.71.

Sterling Check (NASDAQ:STER - Get Free Report) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.23 earnings per share 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 analyst estimates of $199.81 million. Sterling Check had a positive return on equity of 7.73% and a negative net margin of 2.07%. The firm's revenue was up 5.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.28 earnings per share. As a group, sell-side analysts anticipate that Sterling Check Corp. will post 0.56 earnings per share for the current year.

Insider Activity at Sterling Check

In other news, major shareholder Melanie Laird sold 300,000 shares of the firm's stock in a transaction on 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 9.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Sterling Check

A number of large investors have recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in Sterling Check in the third quarter worth $218,000. The Manufacturers Life Insurance Company increased its holdings in shares of Sterling Check by 10.7% in the 2nd 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 in the last quarter. Magnetar Financial LLC lifted its stake in shares of Sterling Check by 38.3% in the second quarter. Magnetar Financial LLC now owns 1,628,611 shares of the company's stock valued at $24,103,000 after purchasing an additional 450,833 shares during the period. Gabelli Funds LLC boosted its holdings in Sterling Check by 176.2% during the second quarter. Gabelli Funds LLC now owns 253,397 shares of the company's stock worth $3,750,000 after buying an additional 161,668 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its position in Sterling Check by 58.9% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 226,940 shares of the company's stock worth $3,359,000 after buying an additional 84,149 shares during the period. 84.34% of the stock is owned by hedge funds and other institutional investors.

About Sterling Check

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.