What’s Behind the After-Hours Surge in Star Equity Holdings Stock?
Written by Emily J. Thompson, Senior Investment Analyst
Source: Benzinga
Stock Surge: Star Equity Holdings Inc. (STRR) shares rose 27.7% to $2.72 in after-hours trading following stockholder approval of its merger with Hudson Global Inc. (HSON).
Merger Approval: The merger proposal was overwhelmingly approved by stockholders on August 21, with 1,788,515 votes in favor out of 3.2 million outstanding shares.
Executive Connections: Hudson's CEO Jeffrey Eberwein, who holds about 10% of Hudson's common stock, also serves as Star's Executive Chairman, indicating a cross-ownership structure.
Recent Insider Activity: Key executives received restricted stock unit awards shortly before the merger, with Eberwein receiving 860 RSUs and other directors receiving between 485 and 535 RSUs.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
