Stein Mart, Inc. (SMRT) Shares Down 6%

Stein Mart, Inc. (NASDAQ:SMRT) shares dropped 6% during mid-day trading on Tuesday . The company traded as low as $1.09 and last traded at $1.10. Approximately 502,011 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 766,919 shares. The stock had previously closed at $1.17.

The company has a debt-to-equity ratio of 3.13, a current ratio of 1.36 and a quick ratio of 0.17.

Stein Mart (NASDAQ:SMRT) last announced its quarterly earnings results on Wednesday, November 15th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.21) by ($0.10). Stein Mart had a negative net margin of 2.18% and a negative return on equity of 44.60%. The company had revenue of $285.40 million during the quarter.

Several large investors have recently made changes to their positions in the company. GSA Capital Partners LLP purchased a new position in shares of Stein Mart in the 3rd quarter valued at $372,000. California Public Employees Retirement System increased its holdings in shares of Stein Mart by 46.8% in the 3rd quarter. California Public Employees Retirement System now owns 518,352 shares of the company’s stock valued at $674,000 after acquiring an additional 165,152 shares during the period. Paradigm Capital Management Inc. NY increased its holdings in shares of Stein Mart by 694.9% in the 3rd quarter. Paradigm Capital Management Inc. NY now owns 476,924 shares of the company’s stock valued at $620,000 after acquiring an additional 416,924 shares during the period. Sunbelt Securities Inc. increased its holdings in shares of Stein Mart by 82.8% in the 3rd quarter. Sunbelt Securities Inc. now owns 243,098 shares of the company’s stock valued at $316,000 after acquiring an additional 110,098 shares during the period. Finally, Shell Asset Management Co. purchased a new position in shares of Stein Mart in the 3rd quarter valued at $600,000. Institutional investors and hedge funds own 26.45% of the company’s stock.

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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.

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