Bluefin Capital Management LLC Buys New Shares in Star Holdings $STHO

Key Points

• Bluefin Capital Management LLC has purchased a new position in Star Holdings, investing approximately $2.72 million for 319,900 shares, making it the 11th largest holding in their portfolio.
• Star Holdings' stock price has seen a 0.8% increase, currently trading at $8.81, with a market cap of $117.08 million and a PE ratio of -2.04.
• Analysts have upgraded Star shares from a "strong sell" to a "hold" rating, reflecting a change in market sentiment towards the company.

Bluefin Capital Management LLC bought a new stake in shares of Star Holdings (NASDAQ:STHO - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 319,900 shares of the company's stock, valued at approximately $2,722,000. Star comprises 2.0% of Bluefin Capital Management LLC's investment portfolio, making the stock its 11th largest holding. Bluefin Capital Management LLC owned approximately 2.40% of Star at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Wells Fargo & Company MN raised its holdings in shares of Star by 18.9% during the fourth quarter. Wells Fargo & Company MN now owns 9,413 shares of the company's stock valued at $92,000 after purchasing an additional 1,494 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Star by 196.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,658 shares of the company's stock valued at $26,000 after buying an additional 1,761 shares during the last quarter. Barclays PLC lifted its holdings in shares of Star by 14.4% during the 4th quarter. Barclays PLC now owns 19,839 shares of the company's stock valued at $194,000 after buying an additional 2,498 shares during the period. Northern Trust Corp boosted its stake in shares of Star by 4.7% in the 4th quarter. Northern Trust Corp now owns 111,810 shares of the company's stock worth $1,088,000 after buying an additional 5,020 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its holdings in shares of Star by 63.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 23,639 shares of the company's stock worth $230,000 after acquiring an additional 9,178 shares during the period. Hedge funds and other institutional investors own 89.31% of the company's stock.

Star Stock Performance

NASDAQ STHO traded up $0.04 on Monday, hitting $8.89. 15,852 shares of the company traded hands, compared to its average volume of 91,475. The company has a market capitalization of $118.15 million, a price-to-earnings ratio of -2.06 and a beta of 1.33. The company has a current ratio of 6.21, a quick ratio of 6.21 and a debt-to-equity ratio of 0.83. The business's 50 day moving average price is $8.03 and its 200-day moving average price is $7.57. Star Holdings has a 52-week low of $6.05 and a 52-week high of $14.50.

Star (NASDAQ:STHO - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.26 earnings per share (EPS) for the quarter. Star had a negative return on equity of 32.44% and a negative net margin of 50.51%.The business had revenue of $42.05 million during the quarter.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Star from a "strong sell" rating to a "hold" rating in a report on Thursday, May 22nd.

Star Profile

Star Holdings engages in the non-ground lease related commercial real estate businesses in the United States. Its portfolio primarily comprises interest in the Asbury Park Waterfront and Magnolia Green residential development projects. Star Holdings is based in New York, New York.