Bardin Hill Management Partners LP Makes New Investment in Sterling Check Corp. (NASDAQ:STER)

Bardin Hill Management Partners LP bought a new stake in Sterling Check Corp. (NASDAQ:STER) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 163,392 shares of the company’s stock, valued at approximately $2,732,000. Sterling Check comprises 1.3% of Bardin Hill Management Partners LP’s investment portfolio, making the stock its 19th biggest position.

A number of other large investors also recently made changes to their positions in STER. Quest Partners LLC grew its holdings in 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 in the last quarter. SG Americas Securities LLC bought a new stake in shares of Sterling Check in the third quarter valued at about $218,000. The Manufacturers Life Insurance Company grew its stake in shares of Sterling Check by 10.7% in the second quarter. The Manufacturers Life Insurance Company now owns 14,178 shares of the company’s stock valued at $210,000 after acquiring an additional 1,372 shares in the last quarter. Virtu Financial LLC bought a new position in Sterling Check during the first quarter worth about $320,000. Finally, Rhumbline Advisers raised its stake in Sterling Check by 4.2% in the 2nd quarter. Rhumbline Advisers now owns 48,246 shares of the company’s stock worth $714,000 after purchasing an additional 1,940 shares in the last quarter. Institutional investors own 84.34% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Citigroup boosted their price target on Sterling Check from $16.20 to $17.50 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, the company 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 Monday. The firm has a 50 day moving average of $16.80 and a 200-day moving average of $16.00. Sterling Check Corp. has a 12 month low of $10.00 and a 12 month high of $18.04. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $1.64 billion, a PE ratio of -98.47 and a beta of 0.48.

Insider Activity at Sterling Check

In related news, major shareholder Melanie Laird sold 300,000 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $17.18, for a total value of $5,154,000.00. Following the sale, the insider now directly owns 10,749,576 shares of the company’s stock, valued at $184,677,715.68. This trade represents a 2.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 9.90% of the stock is currently owned by insiders.

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.