Bluefin Capital Management LLC Takes Position in Star Holdings $STHO

Bluefin Capital Management LLC purchased a new position in shares of Star Holdings (NASDAQ:STHO) in the 1st quarter, HoldingsChannel reports. The institutional investor purchased 319,900 shares of the company’s stock, valued at approximately $2,722,000. Star accounts for 2.0% of Bluefin Capital Management LLC’s investment portfolio, making the stock its 11th largest holding.

A number of other hedge funds have also made changes to their positions in STHO. Toronto Dominion Bank purchased a new stake in Star during the 4th quarter worth about $12,648,000. Saba Capital Management L.P. boosted its stake in Star by 24.9% in the 4th quarter. Saba Capital Management L.P. now owns 1,022,198 shares of the company’s stock worth $9,946,000 after buying an additional 204,030 shares during the last quarter. Peapod Lane Capital LLC boosted its stake in Star by 107.2% in the 1st quarter. Peapod Lane Capital LLC now owns 302,239 shares of the company’s stock worth $2,572,000 after buying an additional 156,393 shares during the last quarter. TCW Group Inc. lifted its stake in shares of Star by 16.5% in the 1st quarter. TCW Group Inc. now owns 514,139 shares of the company’s stock valued at $4,375,000 after purchasing an additional 72,913 shares in the last quarter. Finally, Dimensional Fund Advisors LP acquired a new position in shares of Star in the 4th quarter valued at about $516,000. Hedge funds and other institutional investors own 89.31% of the company’s stock.

Analyst Ratings Changes

Separately, Wall Street Zen raised Star from a “strong sell” rating to a “hold” rating in a research note on Thursday, May 22nd.

Star Stock Performance

NASDAQ STHO opened at $8.81 on Wednesday. The firm has a market capitalization of $117.08 million, a P/E ratio of -2.04 and a beta of 1.33. The company has a debt-to-equity ratio of 0.83, a current ratio of 6.21 and a quick ratio of 6.21. Star Holdings has a 1-year low of $6.05 and a 1-year high of $14.50. The business’s 50-day simple moving average is $7.97 and its 200-day simple moving average is $7.59.

Star (NASDAQ:STHO) last announced its earnings results on Thursday, August 7th. The company reported $0.26 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 for the quarter.

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.