Stein Mart, Inc. (SMRT) Downgraded by TheStreet to D+

TheStreet cut shares of Stein Mart, Inc. (NASDAQ:SMRT) from a c rating to a d+ rating in a report issued on Wednesday.

Shares of Stein Mart (NASDAQ:SMRT) traded up 5.31% on Wednesday, hitting $1.19. 1,947,699 shares of the stock traded hands. The firm’s market capitalization is $56.15 million. Stein Mart has a 52 week low of $1.00 and a 52 week high of $9.23. The firm’s 50 day moving average is $2.39 and its 200 day moving average is $3.91.

Stein Mart (NASDAQ:SMRT) last posted its quarterly earnings data on Wednesday, May 17th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.05. Stein Mart had a net margin of 0.84% and a return on equity of 16.09%. The business had revenue of $337.30 million during the quarter, compared to analyst estimates of $362.21 million. During the same quarter last year, the business earned $0.30 earnings per share. Stein Mart’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, analysts expect that Stein Mart will post $0.10 EPS for the current fiscal year.

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Several hedge funds have recently bought and sold shares of SMRT. Dimensional Fund Advisors LP increased its stake in Stein Mart by 9.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,766,647 shares of the company’s stock worth $5,318,000 after buying an additional 159,663 shares during the period. Vanguard Group Inc. increased its stake in Stein Mart by 4.6% in the first quarter. Vanguard Group Inc. now owns 1,619,601 shares of the company’s stock worth $4,874,000 after buying an additional 70,732 shares during the period. Bank of New York Mellon Corp increased its stake in Stein Mart by 4.1% in the first quarter. Bank of New York Mellon Corp now owns 824,232 shares of the company’s stock worth $2,480,000 after buying an additional 32,372 shares during the period. State Street Corp increased its stake in Stein Mart by 11.5% in the fourth quarter. State Street Corp now owns 623,488 shares of the company’s stock worth $3,414,000 after buying an additional 64,469 shares during the period. Finally, Guggenheim Capital LLC increased its stake in Stein Mart by 181.8% in the fourth quarter. Guggenheim Capital LLC now owns 422,430 shares of the company’s stock worth $2,315,000 after buying an additional 272,549 shares during the period. Institutional investors own 51.14% of the company’s stock.

About Stein Mart

Stein Mart, Inc is a national retailer offering the fashion merchandise, service and presentation of a department or specialty store. The Company offers apparel for women and men, as well as accessories, shoes and home fashions. The Company’s target customers are women over 45 years old. The Company operates approximately 280 stores in over 30 states and an Internet store.

5 Day Chart for NASDAQ:SMRT

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