Litchfield Hills Research Analysts Increase Earnings Estimates for Star Equity Holdings, Inc. (NASDAQ:STRR)

Star Equity Holdings, Inc. (NASDAQ:STRR – Get Rating) – Litchfield Hills Research lifted their Q2 2023 earnings per share estimates for Star Equity in a report released on Wednesday, May 17th. Litchfield Hills Research analyst T. O’neill now expects that the company will post earnings of $0.05 per share for the quarter, up from their previous estimate of ($0.01). The consensus estimate for Star Equity’s current full-year earnings is $0.05 per share. Litchfield Hills Research also issued estimates for Star Equity’s FY2023 earnings at $0.20 EPS.

Star Equity Stock Up 3.5 %

Shares of NASDAQ:STRR opened at $0.95 on Friday. The company has a quick ratio of 1.04, a current ratio of 1.51 and a debt-to-equity ratio of 0.01. The business has a fifty day moving average of $0.83 and a two-hundred day moving average of $0.89. The stock has a market cap of $14.40 million, a P/E ratio of -5.01 and a beta of 0.51. Star Equity has a 52-week low of $0.65 and a 52-week high of $1.14.

Star Equity (NASDAQ:STRR – Get Rating) last issued its earnings results on Wednesday, March 15th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.16. The company had revenue of $32.14 million during the quarter, compared to analysts’ expectations of $27.00 million. Star Equity had a positive return on equity of 16.11% and a negative net margin of 0.99%.

Insider Buying and Selling at Star Equity

In related news, major shareholder Jeffrey E. Eberwein bought 50,000 shares of the company’s stock in a transaction on Friday, March 24th. The stock was bought at an average cost of $0.84 per share, for a total transaction of $42,000.00. Following the acquisition, the insider now directly owns 2,250,000 shares in the company, valued at $1,890,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders purchased a total of 135,325 shares of company stock worth $120,520 in the last three months. 21.93% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Star Equity

Hedge funds have recently modified their holdings of the business. Virtu Financial LLC grew its holdings in shares of Star Equity by 239.7% during the 1st quarter. Virtu Financial LLC now owns 44,900 shares of the company’s stock worth $51,000 after purchasing an additional 31,684 shares during the period. Vanguard Group Inc. grew its holdings in shares of Star Equity by 149.4% during the 3rd quarter. Vanguard Group Inc. now owns 57,481 shares of the company’s stock worth $57,000 after purchasing an additional 34,431 shares during the period. Finally, Millennium Management LLC lifted its stake in Star Equity by 228.6% during the 2nd quarter. Millennium Management LLC now owns 133,831 shares of the company’s stock worth $124,000 after acquiring an additional 93,102 shares in the last quarter. 29.60% of the stock is currently owned by hedge funds and other institutional investors.

Star Equity Company Profile

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Star Equity Holdings, Inc engages in the business of healthcare and construction. It operates through the following segments: Healthcare, Construction, and Investments. The Healthcare segment offers imaging systems, qualified personnel, radiopharmaceuticals, licensing services, and logistics. The Construction segment manufactures modular housing units, structural wall panels, permanent wood foundation systems, other engineered wood products, and supplies general contractors with building materials.