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Insider Selling: Starry Group Holdings, Inc. (NYSE:STRY) Major Shareholder Sells 54,300 Shares of Stock

Financial News Live ·  Sep 29, 2022 08:12

Starry Group Holdings, Inc. (NYSE:STRY – Get Rating) major shareholder Tiger Global Management Llc sold 54,300 shares of the company's stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $1.66, for a total value of $90,138.00. Following the completion of the transaction, the insider now directly owns 19,258,893 shares of the company's stock, valued at $31,969,762.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Large shareholders that own more than 10% of a company's stock are required to disclose their transactions with the SEC.

Tiger Global Management Llc also recently made the following trade(s):

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  • On Monday, September 26th, Tiger Global Management Llc sold 16,172 shares of Starry Group stock. The shares were sold at an average price of $1.76, for a total value of $28,462.72.

Starry Group Stock Up 0.6 %

Shares of NYSE STRY traded up $0.01 during trading hours on Wednesday, hitting $1.65. The company's stock had a trading volume of 501,745 shares, compared to its average volume of 605,603. The company has a debt-to-equity ratio of 35.82, a current ratio of 3.16 and a quick ratio of 3.16. Starry Group Holdings, Inc. has a 12 month low of $1.60 and a 12 month high of $10.90. The stock has a 50-day moving average price of $2.74.

Starry Group (NYSE:STRY – Get Rating) last posted its quarterly earnings data on Tuesday, August 9th. The company reported ($0.22) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.09). The business had revenue of $7.75 million during the quarter, compared to analyst estimates of $8.30 million. Sell-side analysts forecast that Starry Group Holdings, Inc. will post -1.23 earnings per share for the current year.

Institutional Trading of Starry Group

Several large investors have recently bought and sold shares of the company. Tiger Global Management LLC bought a new stake in Starry Group during the 1st quarter valued at approximately $181,877,000. Kohlberg Kravis Roberts & Co. L.P. purchased a new position in shares of Starry Group during the first quarter valued at approximately $29,799,000. Soros Fund Management LLC purchased a new position in shares of Starry Group during the first quarter valued at approximately $11,725,000. Qube Research & Technologies Ltd purchased a new position in shares of Starry Group during the first quarter valued at approximately $9,815,000. Finally, State Street Corp purchased a new position in shares of Starry Group during the second quarter valued at approximately $3,261,000. 88.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on STRY. Cowen cut their price target on Starry Group to $8.00 in a report on Monday, August 15th. The Goldman Sachs Group cut their price target on Starry Group from $8.00 to $4.00 and set a "neutral" rating for the company in a report on Wednesday, August 10th. Cowen assumed coverage on Starry Group in a report on Friday, June 17th. They issued a "buy" rating and a $9.00 price target for the company. Piper Sandler assumed coverage on Starry Group in a research report on Friday, June 3rd. They issued a "market perform" rating and a $10.00 price objective on the stock. Finally, Moffett Nathanson assumed coverage on Starry Group in a research report on Monday, June 13th. They issued a "buy" rating and a $11.00 price objective on the stock. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $8.79.

Starry Group Company Profile

(Get Rating)

Starry Group Holdings, Inc operates as a next generation licensed fixed wireless technology developer and internet service provider. The company is deploying gigabit capable broadband to the home using its hybrid fiber fixed wireless technology. It serves approximately 5.3 million households through deploying its gigabit network in six U.S.

Further Reading

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