Bank of New York Mellon Corp Acquires 32,372 Shares of Stein Mart, Inc. (NASDAQ:SMRT)
Bank of New York Mellon Corp boosted its position in shares of Stein Mart, Inc. (NASDAQ:SMRT) by 4.1% during the first quarter, Holdings Channel reports. The fund owned 824,232 shares of the company’s stock after buying an additional 32,372 shares during the period. Bank of New York Mellon Corp’s holdings in Stein Mart were worth $2,480,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the stock. Thrivent Financial for Lutherans boosted its stake in Stein Mart by 0.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 233,878 shares of the company’s stock worth $1,282,000 after buying an additional 980 shares during the last quarter. Comerica Bank boosted its stake in Stein Mart by 5.8% in the fourth quarter. Comerica Bank now owns 32,910 shares of the company’s stock worth $131,000 after buying an additional 1,795 shares during the last quarter. Teachers Retirement System of The State of Kentucky boosted its stake 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 worth $107,000 after buying an additional 3,200 shares during the last quarter. Teachers Advisors LLC boosted its stake in Stein Mart by 7.2% in the fourth quarter. Teachers Advisors LLC now owns 79,998 shares of the company’s stock worth $438,000 after buying an additional 5,347 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in Stein Mart by 18.2% in the first quarter. Wells Fargo & Company MN now owns 46,457 shares of the company’s stock worth $140,000 after buying an additional 7,146 shares during the last quarter. Hedge funds and other institutional investors own 42.27% of the company’s stock.
Stein Mart, Inc. (SMRT) opened at 1.19 on Tuesday. Stein Mart, Inc. has a 12 month low of $1.00 and a 12 month high of $9.23. The company’s market cap is $56.67 million. The company’s 50-day moving average is $1.59 and its 200-day moving average is $3.05.
Stein Mart (NASDAQ:SMRT) last issued its quarterly earnings data on Wednesday, May 17th. The company reported $0.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.15 by $0.05. Stein Mart had a negative return on equity of 10.71% and a negative net margin of 0.69%. The firm had revenue of $337.30 million during the quarter, compared to analysts’ expectations of $362.21 million. During the same period in the previous year, the firm earned $0.30 EPS. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. On average, equities research analysts expect that Stein Mart, Inc. will post ($0.09) EPS for the current fiscal year.
Separately, TheStreet cut shares of Stein Mart from a “c” rating to a “d+” rating in a report on Wednesday, May 17th. One investment analyst has rated the stock with a sell rating and three have assigned a hold rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $7.50.
In related news, Chairman Jay Stein bought 900,000 shares of the company’s stock in a transaction on Wednesday, May 24th. The shares were bought at an average price of $1.50 per share, with a total value of $1,350,000.00. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard L. Sisisky bought 50,000 shares of the company’s stock in a transaction on Tuesday, May 23rd. The shares were bought at an average cost of $1.51 per share, for a total transaction of $75,500.00. Following the transaction, the director now owns 135,351 shares in the company, valued at approximately $204,380.01. The disclosure for this purchase can be found here. In the last ninety days, insiders bought 1,003,500 shares of company stock worth $1,505,595. Insiders own 34.70% 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.
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