Stein Mart, Inc. (NASDAQ:SMRT) Director Mitchell W. Legler bought 45,000 shares of Stein Mart stock in a transaction that occurred on Wednesday, May 24th. The stock was purchased at an average price of $1.54 per share, with a total value of $69,300.00. Following the purchase, the director now directly owns 274,108 shares in the company, valued at $422,126.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
Shares of Stein Mart, Inc. (NASDAQ:SMRT) traded up 2.10% during midday trading on Monday, hitting $1.46. 628,446 shares of the stock traded hands. The firm has a 50-day moving average price of $1.99 and a 200 day moving average price of $3.55. The stock’s market cap is $68.88 million. Stein Mart, Inc. has a one year low of $1.00 and a one year high of $9.23.
Stein Mart (NASDAQ:SMRT) last posted its quarterly earnings results on Wednesday, May 17th. The company reported $0.10 EPS for the quarter, missing the Thomson Reuters’ 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 period last year, the firm posted $0.30 earnings per share. The company’s quarterly revenue was down 5.2% on a year-over-year basis. Analysts anticipate that Stein Mart, Inc. will post ($0.20) earnings per share for the current year.
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Hedge funds and other institutional investors have recently bought and sold shares of the stock. Teachers Retirement System of The State of Kentucky raised its position in Stein Mart by 19.6% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 19,500 shares of the company’s stock valued at $107,000 after buying an additional 3,200 shares during the period. KCG Holdings Inc. raised its position in Stein Mart by 92.6% in the first quarter. KCG Holdings Inc. now owns 36,085 shares of the company’s stock valued at $109,000 after buying an additional 17,346 shares during the period. Teza Capital Management LLC acquired a new position in Stein Mart during the fourth quarter valued at approximately $111,000. Comerica Bank raised its position in Stein Mart by 5.8% in the fourth quarter. Comerica Bank now owns 32,910 shares of the company’s stock valued at $131,000 after buying an additional 1,795 shares during the period. Finally, Wells Fargo & Company MN raised its position in Stein Mart by 18.2% in the first quarter. Wells Fargo & Company MN now owns 46,457 shares of the company’s stock valued at $140,000 after buying an additional 7,146 shares during the period. 51.14% of the stock is owned by institutional investors and hedge funds.
Separately, TheStreet downgraded shares of Stein Mart from a “c” rating to a “d+” rating in a research note on Wednesday, May 17th. One equities research analyst has rated the stock with a sell rating and three have assigned a hold rating to the company. Stein Mart has a consensus rating of “Hold” and a consensus price target of $7.50.
Stein Mart Company Profile
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.
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