GSA Capital Partners LLP bought a new position in shares of Sterling Construction Co. (NASDAQ:STRL) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 64,686 shares of the company’s stock, valued at approximately $318,000. GSA Capital Partners LLP owned about 0.33% of Sterling Construction as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Spark Investment Management LLC acquired a new stake in shares of Sterling Construction during the first quarter worth approximately $115,000. DIAM Co. Ltd. acquired a new stake in shares of Sterling Construction during the second quarter worth approximately $199,000. Jacobs Levy Equity Management Inc. raised its stake in shares of Sterling Construction by 574.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 86,332 shares of the company’s stock worth $445,000 after buying an additional 73,532 shares during the period. Acadian Asset Management LLC raised its stake in shares of Sterling Construction by 40.1% in the first quarter. Acadian Asset Management LLC now owns 146,010 shares of the company’s stock worth $751,000 after buying an additional 41,818 shares during the period. Finally, Renaissance Technologies LLC raised its stake in shares of Sterling Construction by 40.2% in the first quarter. Renaissance Technologies LLC now owns 264,000 shares of the company’s stock worth $1,360,000 after buying an additional 75,700 shares during the period. Institutional investors own 66.29% of the company’s stock.
Shares of Sterling Construction Co. (NASDAQ:STRL) traded up 3.630% during trading on Monday, hitting $7.565. The stock had a trading volume of 293,793 shares. Sterling Construction Co. has a 1-year low of $3.69 and a 1-year high of $7.66. The stock’s 50-day moving average price is $6.63 and its 200 day moving average price is $5.50. The firm’s market capitalization is $189.14 million.
Sterling Construction (NASDAQ:STRL) last issued its quarterly earnings results on Monday, August 1st. The company reported $0.09 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.10 by $0.01. Sterling Construction had a positive return on equity of 12.00% and a negative net margin of 0.96%. The business earned $189.60 million during the quarter, compared to analysts’ expectations of $189.83 million. During the same quarter in the previous year, the company posted ($0.13) EPS. The company’s quarterly revenue was up 6.9% on a year-over-year basis. On average, analysts anticipate that Sterling Construction Co. will post $0.16 earnings per share for the current year.
A number of analysts have issued reports on the company. Zacks Investment Research raised Sterling Construction from a “sell” rating to a “hold” rating in a research report on Tuesday, September 13th. DA Davidson set a $9.00 target price on Sterling Construction and gave the stock a “buy” rating in a research report on Monday, September 12th.
About Sterling Construction
Sterling Construction Company, Inc is a heavy civil construction company engaged in the building and reconstruction of transportation and water infrastructure projects in Texas, Utah, Nevada, Arizona, California, Hawaii and other states. The Company’s transportation infrastructure projects include highways, roads, bridges, airfields, ports and light rail.
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