Sterling Check Corp. (NASDAQ:STER) Position Cut by Progeny 3 Inc.

Progeny 3 Inc. cut its position in Sterling Check Corp. (NASDAQ:STER) by 9.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,915,812 shares of the company’s stock after selling 307,100 shares during the quarter. Sterling Check accounts for 4.1% of Progeny 3 Inc.’s holdings, making the stock its 9th largest holding. Progeny 3 Inc.’s holdings in Sterling Check were worth $48,752,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Swedbank AB purchased a new stake in shares of Sterling Check during the first quarter worth $9,648,000. Alpine Associates Management Inc. grew its stake in Sterling Check by 24.5% during the 2nd 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 in the last quarter. Magnetar Financial LLC increased its holdings in Sterling Check by 38.3% during the 2nd quarter. Magnetar Financial LLC now owns 1,628,611 shares of the company’s stock worth $24,103,000 after purchasing an additional 450,833 shares during the period. Gabelli Funds LLC raised its position in Sterling Check by 176.2% in the 2nd quarter. Gabelli Funds LLC now owns 253,397 shares of the company’s stock valued at $3,750,000 after purchasing an additional 161,668 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Sterling Check by 58.9% in 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 period. Hedge funds and other institutional investors own 84.34% of the company’s stock.

Analyst Ratings Changes

Separately, Citigroup raised their target price on shares of Sterling Check from $16.20 to $17.50 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $16.75.

Sterling Check Price Performance

Shares of NASDAQ STER opened at $16.74 on Friday. The stock’s 50-day simple moving average is $16.80 and its 200-day simple moving average is $15.99. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.62 and a current ratio of 1.62. The firm has a market capitalization of $1.64 billion, a PE ratio of -98.47 and a beta of 0.48. Sterling Check Corp. has a fifty-two week low of $10.00 and a fifty-two week high of $18.04.

Insider Transactions at Sterling Check

In other news, major shareholder Melanie Laird sold 22,278 shares of Sterling Check stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $16.96, for a total transaction of $377,834.88. Following the sale, the insider now owns 11,049,576 shares in the company, valued at approximately $187,400,808.96. The trade was a 0.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 9.90% of the company’s stock.

Sterling Check 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.