Engine Capital, L.p. is Buying Startek Inc. (NYSE:SRT) Shares

In a just published Form 13, filed with the US Securities and Exchange Commission (SEC),...
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In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Startek Inc. (NYSE:SRT) reported that Engine Capital, L.p. has picked up 628,863 of common stock as of 2017-03-28.

The acquisition brings the aggregate amount owned by Engine Capital, L.p. to a total of 628,863 representing a 4.0% stake in the company.

For those not familiar with the company, StarTek, Inc. is a customer engagement business process outsourcing (BPO) services provider, delivering customer care solutions. The Company operates through three segments: Domestic, Nearshore and Offshore. As of December 31, 2016, its Domestic segment included the operations of 13 facilities in the United States and one facility in Canada; its Offshore segment included the operations of four facilities in the Philippines, and its Nearshore segment included the operations of two facilities in Honduras and one facility in Jamaica. The Company’s service offerings include customer care, sales support, inbound sales, complex order processing, accounts receivable management, technical and product support, up-sell and cross-sell opportunities, customer intelligence analytics and other industry-specific processes. Its suite of order processing services ranges from enterprise level project management to direct-to-consumer order processing.

A glance at Startek Inc. (NYSE:SRT)’s key stats reveals a current market capitalization of 133.29 Million based on 15.81 Million shares outstanding and a price at last close of $8.42 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2015-11-24, Leach picked up 2,000 at a purchase price of $3.41. This brings their total holding to 10,000 as of the date of the filing.

On the sell side, the most recent transaction saw Weaver unload 10,000 shares at a sale price of $6.12. This brings their total holding to 0.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Startek Inc. (NYSE:SRT) as things move forward to see if its progress aligns with these transactions.

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