Skandinaviska Enskilda Banken AB publ Increases Stock Position in Sterling Check Corp. (NASDAQ:STER)

Skandinaviska Enskilda Banken AB publ grew its stake in Sterling Check Corp. (NASDAQ:STER) by 58.9% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 226,940 shares of the company’s stock after acquiring an additional 84,149 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Sterling Check were worth $3,359,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Alpine Associates Management Inc. increased its holdings in Sterling Check by 24.5% in the 2nd quarter. Alpine Associates Management Inc. now owns 2,477,920 shares of the company’s stock valued at $36,673,000 after purchasing an additional 487,600 shares during the last quarter. Quest Partners LLC raised its holdings in shares of Sterling Check by 7,540.0% in the 2nd quarter. Quest Partners LLC now owns 2,674 shares of the company’s stock valued at $40,000 after buying an additional 2,639 shares during the period. Rhumbline Advisers lifted its stake in Sterling Check by 4.2% during the 2nd quarter. Rhumbline Advisers now owns 48,246 shares of the company’s stock worth $714,000 after acquiring an additional 1,940 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Sterling Check by 10.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 162,797 shares of the company’s stock valued at $2,409,000 after acquiring an additional 15,085 shares during the period. Finally, Swedbank AB acquired a new position in Sterling Check in the 1st quarter valued at about $9,648,000. 84.34% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Lou Paglia sold 17,526 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $15.19, for a total transaction of $266,219.94. Following the completion of the transaction, the insider now directly owns 618,331 shares of the company’s stock, valued at approximately $9,392,447.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 9.90% of the company’s stock.

Sterling Check Stock Down 0.4 %

Shares of STER opened at $16.87 on Monday. The company’s 50-day simple moving average is $15.93 and its 200-day simple moving average is $15.59. 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 1 year low of $10.00 and a 1 year high of $17.05. The stock has a market capitalization of $1.65 billion, a PE ratio of -168.70 and a beta of 0.48.

Sterling Check (NASDAQ:STER) last released its earnings results on Thursday, August 8th. The company reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.04). The business 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%. Sterling Check’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.28 earnings per share. Analysts forecast that Sterling Check Corp. will post 0.62 earnings per share for the current fiscal year.

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.