Short Interest in Star Holdings (NASDAQ:STHO) Drops By 16.1%

Star Holdings (NASDAQ:STHO) was the target of a large decline in short interest in May. As of May 15th, there was short interest totalling 326,500 shares, a decline of 16.1% from the April 30th total of 389,000 shares. Currently, 2.5% of the shares of the company are sold short. Based on an average daily trading volume, of 105,200 shares, the short-interest ratio is presently 3.1 days.

Star Stock Performance

NASDAQ:STHO opened at $6.49 on Tuesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 9.23 and a current ratio of 7.24. Star has a 52-week low of $6.06 and a 52-week high of $14.50. The firm has a market cap of $86.45 million, a price-to-earnings ratio of -1.00 and a beta of 1.23. The business’s fifty day moving average is $6.69 and its 200 day moving average is $8.42.

Star (NASDAQ:STHO) last posted its earnings results on Monday, May 12th. The company reported ($0.81) earnings per share for the quarter. Star had a negative net margin of 76.57% and a negative return on equity of 33.53%. The company had revenue of $14.62 million for the quarter.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Toronto Dominion Bank purchased a new position in Star during the fourth quarter worth about $12,648,000. Saba Capital Management L.P. raised its holdings in shares of Star by 24.9% in the 4th quarter. Saba Capital Management L.P. now owns 1,022,198 shares of the company’s stock valued at $9,946,000 after acquiring an additional 204,030 shares in the last quarter. Foursixthree Capital LP bought a new stake in shares of Star during the 4th quarter valued at about $9,207,000. Highbridge Capital Management LLC boosted its position in shares of Star by 15.6% during the 4th quarter. Highbridge Capital Management LLC now owns 866,710 shares of the company’s stock valued at $8,433,000 after acquiring an additional 116,710 shares during the last quarter. Finally, TCW Group Inc. grew its holdings in shares of Star by 16.5% during the first quarter. TCW Group Inc. now owns 514,139 shares of the company’s stock worth $4,375,000 after purchasing an additional 72,913 shares in the last quarter. 89.31% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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.