Crescent Grove Advisors LLC Invests $105,000 in Stage Stores, Inc. (NYSE:SSI)
Crescent Grove Advisors LLC bought a new stake in Stage Stores, Inc. (NYSE:SSI) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 50,347 shares of the company’s stock, valued at approximately $105,000.
Several other hedge funds and other institutional investors also recently modified their holdings of SSI. Tudor Investment Corp ET AL bought a new position in shares of Stage Stores during the first quarter valued at $331,000. Norges Bank acquired a new position in Stage Stores during the fourth quarter worth approximately $993,000. Dynamic Technology Lab Private Ltd acquired a new position in Stage Stores during the first quarter worth approximately $246,000. State Street Corp boosted its position in Stage Stores by 2.8% in the fourth quarter. State Street Corp now owns 774,717 shares of the company’s stock worth $3,380,000 after buying an additional 21,031 shares in the last quarter. Finally, Royce & Associates LP boosted its position in Stage Stores by 1,483.6% in the first quarter. Royce & Associates LP now owns 237,546 shares of the company’s stock worth $615,000 after buying an additional 222,546 shares in the last quarter. Institutional investors and hedge funds own 68.37% of the company’s stock.
Shares of Stage Stores, Inc. (NYSE:SSI) opened at 1.70 on Friday. The stock’s market cap is $46.65 million. Stage Stores, Inc. has a 52-week low of $1.66 and a 52-week high of $6.56. The stock’s 50 day moving average price is $1.93 and its 200-day moving average price is $2.33.
Stage Stores (NYSE:SSI) last posted its earnings results on Thursday, May 18th. The company reported ($0.55) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.68) by $0.13. The business had revenue of $308.60 million for the quarter, compared to analyst estimates of $303.93 million. Stage Stores had a negative net margin of 2.92% and a negative return on equity of 6.23%. The business’s quarterly revenue was down 7.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.56) EPS. On average, analysts predict that Stage Stores, Inc. will post ($1.01) earnings per share for the current fiscal year.
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A number of research analysts recently commented on SSI shares. Zacks Investment Research upgraded Stage Stores from a “sell” rating to a “hold” rating in a report on Thursday, May 4th. Johnson Rice cut Stage Stores from an “accumulate” rating to a “hold” rating in a report on Friday, May 12th. B. Riley reiterated a “sell” rating and issued a $1.00 price objective on shares of Stage Stores in a report on Friday, May 19th. Finally, ValuEngine cut Stage Stores from a “sell” rating to a “strong sell” rating in a report on Saturday, May 20th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $3.50.
In other Stage Stores news, CEO Michael L. Glazer bought 20,000 shares of Stage Stores stock in a transaction that occurred on Wednesday, June 28th. The shares were acquired at an average price of $2.14 per share, for a total transaction of $42,800.00. Following the acquisition, the chief executive officer now owns 1,062,938 shares of the company’s stock, valued at approximately $2,274,687.32. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Michael L. Glazer bought 25,000 shares of Stage Stores stock in a transaction that occurred on Friday, July 7th. The shares were acquired at an average price of $1.95 per share, for a total transaction of $48,750.00. Following the acquisition, the chief executive officer now directly owns 1,087,938 shares in the company, valued at approximately $2,121,479.10. The disclosure for this purchase can be found here. Insiders own 7.40% of the company’s stock.
Stage Stores Company Profile
Stage Stores, Inc operates specialty department stores mainly in small and mid-sized towns and communities. The Company’s department stores offer a range of brand name and private label apparel, accessories, cosmetics, footwear and home goods. The Company operates approximately 830 specialty department stores in over 40 states under the BEALLS, GOODY’S, PALAIS ROYAL, PEEBLES and STAGE nameplates and a direct-to-consumer business.
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