Saba Capital Management L.P. Raises Stake in Star Holdings (NASDAQ:STHO)

Saba Capital Management L.P. grew its holdings in shares of Star Holdings (NASDAQ:STHO - Free Report) by 24.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,022,198 shares of the company's stock after purchasing an additional 204,030 shares during the quarter. Saba Capital Management L.P. owned approximately 7.67% of Star worth $9,946,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in STHO. Millennium Management LLC increased its stake in shares of Star by 26.1% during the 4th quarter. Millennium Management LLC now owns 45,239 shares of the company's stock worth $440,000 after purchasing an additional 9,376 shares during the last quarter. D. E. Shaw & Co. Inc. increased its position in 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 buying an additional 9,178 shares during the last quarter. Foursixthree Capital LP purchased a new stake in Star in the fourth quarter worth $9,207,000. Northern Trust Corp raised its stake in shares of 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 buying an additional 5,020 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in shares of 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 buying an additional 1,761 shares during the period. 89.31% of the stock is owned by hedge funds and other institutional investors.

Star Stock Performance

NASDAQ:STHO traded up $0.01 on Thursday, reaching $6.23. 44,603 shares of the company's stock were exchanged, compared to its average volume of 68,668. The firm has a market cap of $82.98 million, a price-to-earnings ratio of -0.96 and a beta of 1.23. The company has a debt-to-equity ratio of 0.63, a current ratio of 7.24 and a quick ratio of 9.23. The stock has a fifty day simple moving average of $7.00 and a 200-day simple moving average of $8.79. Star Holdings has a 52 week low of $6.09 and a 52 week high of $14.50.

Star (NASDAQ:STHO - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.81) EPS for the quarter. Star had a negative net margin of 76.57% and a negative return on equity of 33.53%. The business had revenue of $14.62 million for the quarter.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded Star from a "strong sell" rating to a "hold" rating in a research note on Thursday.

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.