Stein Mart Inc. (SMRT) Shares Down 5.6%
Stein Mart Inc. (NASDAQ:SMRT)’s share price traded down 5.6% during trading on Tuesday . The company traded as low as $8.02 and last traded at $8.03, with a volume of 87,401 shares. The stock had previously closed at $8.51.
A number of equities analysts have recently commented on the company. Zacks Investment Research upgraded Stein Mart from a “sell” rating to a “hold” rating in a research note on Wednesday, July 20th. Northland Securities lowered Stein Mart from a “buy” rating to a “neutral” rating in a research note on Monday, May 9th. Finally, Northcoast Research lowered Stein Mart from a “buy” rating to a “neutral” rating in a research note on Monday, May 9th.
The stock has a market cap of $372.31 million and a PE ratio of 15.84. The stock’s 50-day moving average is $7.94 and its 200 day moving average is $7.25.
Stein Mart (NASDAQ:SMRT) last released its earnings results on Thursday, May 19th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.04. The firm had revenue of $355.70 million for the quarter, compared to the consensus estimate of $364.77 million. Stein Mart’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the company posted $0.31 EPS. Equities research analysts anticipate that Stein Mart Inc. will post $0.57 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were paid a dividend of $0.075 per share. The ex-dividend date was Tuesday, June 28th. This represents a $0.30 dividend on an annualized basis and a dividend yield of 3.74%.
In other news, COO D Hunt Hawkins sold 10,000 shares of the stock in a transaction dated Friday, June 10th. The shares were sold at an average price of $7.23, for a total transaction of $72,300.00. Following the completion of the transaction, the chief operating officer now directly owns 250,848 shares in the company, valued at approximately $1,813,631.04. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Other institutional investors have bought and sold shares of the company. GSA Capital Partners LLP increased its position in Stein Mart by 67.3% in the fourth quarter. GSA Capital Partners LLP now owns 151,509 shares of the company’s stock worth $1,020,000 after buying an additional 60,925 shares in the last quarter. Foresters Investment Management Company Inc. increased its position in Stein Mart by 0.5% in the fourth quarter. Foresters Investment Management Company Inc. now owns 954,600 shares of the company’s stock worth $6,424,000 after buying an additional 5,200 shares in the last quarter. Paradigm Capital Management Inc. NY increased its position in Stein Mart by 28.8% in the fourth quarter. Paradigm Capital Management Inc. NY now owns 1,624,900 shares of the company’s stock worth $10,935,000 after buying an additional 363,700 shares in the last quarter. Finally, Royce & Associates LLC increased its position in Stein Mart by 20.0% in the fourth quarter. Royce & Associates LLC now owns 5,689,124 shares of the company’s stock worth $38,288,000 after buying an additional 948,675 shares in the last quarter.
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. It is focused on 35-65 year old woman customers. As of January 31, 2015, it operated 270 stores in 30 states and an Internet store.
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