Stein Mart (SMRT) Downgraded by ValuEngine to Hold

Stein Mart (NASDAQ:SMRT) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

Stein Mart (SMRT) opened at $0.82 on Friday. The company has a quick ratio of 0.17, a current ratio of 1.36 and a debt-to-equity ratio of 3.13. The company has a market capitalization of $36.92, a P/E ratio of -1.33 and a beta of 0.35. Stein Mart has a 12 month low of $0.48 and a 12 month high of $3.09.

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Institutional investors have recently bought and sold shares of the stock. California Public Employees Retirement System lifted its stake in shares of Stein Mart by 46.8% in the third quarter. California Public Employees Retirement System now owns 518,352 shares of the company’s stock worth $674,000 after acquiring an additional 165,152 shares during the period. Paradigm Capital Management Inc. NY increased its holdings in Stein Mart by 60.2% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 764,200 shares of the company’s stock worth $886,000 after purchasing an additional 287,276 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Stein Mart by 173.3% in the second quarter. Goldman Sachs Group Inc. now owns 278,382 shares of the company’s stock worth $470,000 after purchasing an additional 176,506 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Stein Mart by 22.4% in the second quarter. Dimensional Fund Advisors LP now owns 2,161,974 shares of the company’s stock worth $3,654,000 after purchasing an additional 395,327 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its holdings in Stein Mart by 30.4% in the second quarter. Parametric Portfolio Associates LLC now owns 245,814 shares of the company’s stock worth $415,000 after purchasing an additional 57,248 shares in the last quarter. 17.14% of the stock is currently owned by institutional investors.

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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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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