Sterling Check Corp. (NASDAQ:STER) is Progeny 3 Inc.’s 9th Largest Position

Progeny 3 Inc. decreased its stake in Sterling Check Corp. (NASDAQ:STER) by 9.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,915,812 shares of the company’s stock after selling 307,100 shares during the quarter. Sterling Check makes up 4.1% of Progeny 3 Inc.’s holdings, making the stock its 9th biggest position. Progeny 3 Inc. owned about 2.98% of Sterling Check worth $48,752,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Virtu Financial LLC acquired a new stake in shares of Sterling Check in the first quarter worth approximately $320,000. Swedbank AB purchased a new stake in shares of Sterling Check during the first quarter worth $9,648,000. Bank of New York Mellon Corp raised its position in shares of Sterling Check by 10.2% in the second quarter. Bank of New York Mellon Corp now owns 162,797 shares of the company’s stock valued at $2,409,000 after buying an additional 15,085 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Sterling Check by 4.2% in the second quarter. Rhumbline Advisers now owns 48,246 shares of the company’s stock worth $714,000 after buying an additional 1,940 shares in the last quarter. Finally, Quest Partners LLC boosted its position in Sterling Check by 7,540.0% during the second quarter. Quest Partners LLC now owns 2,674 shares of the company’s stock worth $40,000 after acquiring an additional 2,639 shares during the last quarter. Hedge funds and other institutional investors own 84.34% of the company’s stock.

Insider Activity at Sterling Check

In other Sterling Check news, major shareholder Melanie Laird sold 300,000 shares of the firm’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $17.18, for a total transaction of $5,154,000.00. Following the completion of the sale, the insider now 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 9.90% of the stock is currently owned by insiders.

Sterling Check Stock Performance

NASDAQ:STER opened at $16.74 on Friday. The company’s 50-day moving average is $16.80 and its two-hundred day moving average is $15.99. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of -98.47 and a beta of 0.48. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.62 and a quick ratio of 1.62. Sterling Check Corp. has a 1-year low of $10.00 and a 1-year high of $18.04.

Analysts Set New Price Targets

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

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.