Russell Investments Group Ltd. Raises Position in Star Holdings $STHO

Key Points

• Russell Investments Group Ltd. increased its stake in Star Holdings (NASDAQ:STHO) by 742.5%, acquiring an additional 41,300 shares to hold a total of 46,862 shares worth approximately $399,000.
• Other institutional investors have also shown increased interest in Star, with Toronto Dominion Bank investing $12.6 million in the 4th quarter and Saba Capital Management L.P. increasing its position by 24.9% during the same period.
• Analysts have raised Star's shares from a "strong sell" to a "hold" rating as of May 22nd, reflecting a potential shift in investor sentiment towards the stock.

Russell Investments Group Ltd. lifted its position in Star Holdings (NASDAQ:STHO - Free Report) by 742.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,862 shares of the company's stock after acquiring an additional 41,300 shares during the period. Russell Investments Group Ltd. owned 0.35% of Star worth $399,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Invesco Ltd. boosted its holdings in Star by 3.8% in the fourth quarter. Invesco Ltd. now owns 39,659 shares of the company's stock valued at $386,000 after purchasing an additional 1,468 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in Star by 18.9% in 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 boosted its holdings in Star by 196.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,658 shares of the company's stock valued at $26,000 after purchasing an additional 1,761 shares during the last quarter. Barclays PLC boosted its holdings in Star by 14.4% in the fourth quarter. Barclays PLC now owns 19,839 shares of the company's stock valued at $194,000 after purchasing an additional 2,498 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in Star by 4.7% in the fourth quarter. Northern Trust Corp now owns 111,810 shares of the company's stock valued at $1,088,000 after purchasing an additional 5,020 shares during the last quarter. 89.31% of the stock is owned by institutional investors and hedge funds.

Star Price Performance

Shares of STHO stock traded up $0.14 during mid-day trading on Friday, hitting $8.72. 44,591 shares of the stock were exchanged, compared to its average volume of 47,790. The firm has a fifty day moving average of $7.94 and a 200 day moving average of $7.59. The company has a quick ratio of 6.21, a current ratio of 6.21 and a debt-to-equity ratio of 0.83. Star Holdings has a 52-week low of $6.05 and a 52-week high of $14.50. The company has a market cap of $115.89 million, a PE ratio of -2.02 and a beta of 1.33.

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

Wall Street Analysts Forecast Growth

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

About Star

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.