Gabelli Funds LLC Increases Stake in Sterling Check Corp. (NASDAQ:STER)

Gabelli Funds LLC grew its stake in shares of Sterling Check Corp. (NASDAQ:STER) by 176.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 253,397 shares of the company’s stock after purchasing an additional 161,668 shares during the quarter. Gabelli Funds LLC owned approximately 0.26% of Sterling Check worth $3,750,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in STER. Skandinaviska Enskilda Banken AB publ raised its holdings in Sterling Check by 58.9% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 226,940 shares of the company’s stock valued at $3,359,000 after buying an additional 84,149 shares during the last quarter. Alpine Associates Management Inc. boosted its holdings in shares of 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 purchasing an additional 487,600 shares during the period. Quest Partners LLC increased its holdings in Sterling Check by 7,540.0% during the 2nd quarter. Quest Partners LLC now owns 2,674 shares of the company’s stock valued at $40,000 after purchasing an additional 2,639 shares during the period. Rhumbline Advisers raised its position in Sterling Check by 4.2% during the 2nd quarter. Rhumbline Advisers now owns 48,246 shares of the company’s stock valued at $714,000 after purchasing an additional 1,940 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position 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 purchasing an additional 15,085 shares during the last quarter. Institutional investors own 84.34% of the company’s stock.

Sterling Check Price Performance

Shares of STER stock opened at $16.62 on Wednesday. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.73. Sterling Check Corp. has a fifty-two week low of $10.00 and a fifty-two week high of $17.05. The business’s 50 day moving average price is $15.98 and its 200-day moving average price is $15.60.

Sterling Check (NASDAQ:STER) last issued its quarterly earnings data 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). Sterling Check had a negative net margin of 2.07% and a positive return on equity of 7.73%. The company had revenue of $200.50 million for the quarter, compared to analysts’ expectations of $199.81 million. During the same period in the previous year, the firm posted $0.28 earnings per share. The firm’s revenue for the quarter was up 5.3% compared to the same quarter last year. On average, sell-side analysts forecast that Sterling Check Corp. will post 0.62 EPS for the current year.

Insider Buying and Selling

In other Sterling Check news, insider Lou Paglia sold 17,526 shares of Sterling Check stock in a transaction that occurred 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 sale, 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 SEC, which is accessible through this hyperlink. 9.90% of the stock is owned by insiders.

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.