The Manufacturers Life Insurance Company Has $210,000 Position in Sterling Check Corp. (NASDAQ:STER)

The Manufacturers Life Insurance Company increased its holdings in shares of Sterling Check Corp. (NASDAQ:STER) by 10.7% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 14,178 shares of the company’s stock after purchasing an additional 1,372 shares during the period. The Manufacturers Life Insurance Company’s holdings in Sterling Check were worth $210,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Gabelli Funds LLC acquired a new position in shares of Sterling Check during the first quarter worth approximately $1,475,000. Alpine Associates Management Inc. increased its position in Sterling Check by 24.5% during the second quarter. Alpine Associates Management Inc. now owns 2,477,920 shares of the company’s stock worth $36,673,000 after acquiring an additional 487,600 shares during the period. Magnetar Financial LLC raised its stake in Sterling Check by 38.3% during the 2nd 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 last quarter. Virtu Financial LLC bought a new stake in Sterling Check in the 1st quarter valued at $320,000. Finally, Bank of New York Mellon Corp grew its position in Sterling Check by 10.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 162,797 shares of the company’s stock worth $2,409,000 after purchasing an additional 15,085 shares during the last quarter. Institutional investors own 84.34% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Melanie Laird sold 300,000 shares of the firm’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 sale, the insider now directly owns 10,749,576 shares of the company’s stock, valued at $184,677,715.68. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 9.90% of the stock is owned by corporate insiders.

Sterling Check Stock Up 1.8 %

Shares of NASDAQ:STER opened at $17.29 on Friday. The company’s fifty day moving average is $16.42 and its 200-day moving average is $15.70. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.62 and a current ratio of 1.62. Sterling Check Corp. has a 52 week low of $10.00 and a 52 week high of $17.36. The company has a market capitalization of $1.69 billion, a PE ratio of -101.71 and a beta of 0.49.

Sterling Check (NASDAQ:STER) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.23 EPS for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.04). The firm had revenue of $200.50 million during the quarter, compared to analyst estimates of $199.81 million. Sterling Check had a negative net margin of 2.07% and a positive return on equity of 7.73%. Sterling Check’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.28 earnings per share. Equities research analysts predict that Sterling Check Corp. will post 0.62 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Citigroup increased their target price on shares of Sterling Check from $16.20 to $17.50 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Five investment analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Sterling Check presently has a consensus rating of “Hold” and a consensus target price of $16.20.

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.