Sterling Check (NASDAQ:STER) Shares Gap Down Following Analyst Downgrade

Sterling Check Corp. (NASDAQ:STERGet Rating) gapped down before the market opened on Wednesday after The Goldman Sachs Group lowered their price target on the stock from $24.00 to $21.00. The stock had previously closed at $14.74, but opened at $13.86. The Goldman Sachs Group currently has a buy rating on the stock. Sterling Check shares last traded at $13.79, with a volume of 665 shares traded.

A number of other research analysts have also issued reports on STER. Needham & Company LLC started coverage on Sterling Check in a research report on Tuesday, September 20th. They set a “buy” rating and a $27.00 target price on the stock. Morgan Stanley decreased their target price on Sterling Check from $25.00 to $23.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 27th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $24.83.

Insider Buying and Selling at Sterling Check

In other Sterling Check news, insider Steven L. Barnett sold 3,465 shares of the firm’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $23.03, for a total value of $79,798.95. Following the transaction, the insider now owns 138,691 shares in the company, valued at approximately $3,194,053.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Sterling Check news, insider Steven L. Barnett sold 3,465 shares of the firm’s stock in a transaction on Thursday, August 18th. The stock was sold at an average price of $23.03, for a total value of $79,798.95. Following the transaction, the insider now owns 138,691 shares in the company, valued at approximately $3,194,053.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Steven L. Barnett sold 3,332 shares of the firm’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $23.00, for a total value of $76,636.00. Following the completion of the transaction, the insider now owns 148,426 shares in the company, valued at approximately $3,413,798. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 8,252 shares of company stock worth $185,533. Corporate insiders own 6.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Dark Forest Capital Management LP raised its holdings in shares of Sterling Check by 210.7% during the 2nd quarter. Dark Forest Capital Management LP now owns 1,824 shares of the company’s stock worth $30,000 after acquiring an additional 1,237 shares during the period. Amalgamated Bank purchased a new position in shares of Sterling Check during the 1st quarter worth $61,000. Quantbot Technologies LP purchased a new position in shares of Sterling Check during the 2nd quarter worth $59,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Sterling Check during the 1st quarter worth about $148,000. Finally, UBS Group AG increased its position in shares of Sterling Check by 21.7% during the 1st quarter. UBS Group AG now owns 8,836 shares of the company’s stock worth $234,000 after purchasing an additional 1,575 shares during the last quarter. Hedge funds and other institutional investors own 86.39% of the company’s stock.

Sterling Check Stock Down 16.8 %

The business has a 50-day moving average of $19.33 and a 200-day moving average of $19.53. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.99 and a current ratio of 1.99. The stock has a market capitalization of $1.18 billion, a price-to-earnings ratio of -175.12 and a beta of 0.79.

Sterling Check (NASDAQ:STERGet Rating) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.21 by $0.06. The firm had revenue of $205.59 million during the quarter, compared to the consensus estimate of $191.64 million. Sterling Check had a positive return on equity of 10.37% and a negative net margin of 0.64%. The firm’s revenue was up 29.0% compared to the same quarter last year. On average, sell-side analysts expect that Sterling Check Corp. will post 1.02 EPS for the current year.

Sterling Check Company Profile

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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.

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