Royce & Associates LP held its position in Stein Mart, Inc. (NASDAQ:SMRT) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 958,012 shares of the company’s stock at the close of the 2nd quarter. Royce & Associates LP owned approximately 2.01% of Stein Mart worth $1,619,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. LMR Partners LLP bought a new stake in shares of Stein Mart during the second quarter valued at approximately $184,000. Callahan Advisors LLC bought a new stake in shares of Stein Mart during the second quarter valued at approximately $509,000. Municipal Employees Retirement System of Michigan raised its holdings in shares of Stein Mart by 276.7% during the second quarter. Municipal Employees Retirement System of Michigan now owns 450,070 shares of the company’s stock valued at $760,000 after buying an additional 330,580 shares during the last quarter. Prescott Group Capital Management L.L.C. bought a new stake in shares of Stein Mart during the second quarter valued at approximately $346,000. Finally, HighTower Advisors LLC raised its holdings in shares of Stein Mart by 87.8% during the first quarter. HighTower Advisors LLC now owns 58,545 shares of the company’s stock valued at $179,000 after buying an additional 27,367 shares during the last quarter. 33.01% of the stock is currently owned by institutional investors.
Shares of Stein Mart, Inc. (NASDAQ SMRT) opened at 1.36 on Friday. The stock’s 50 day moving average price is $1.28 and its 200-day moving average price is $1.91. Stein Mart, Inc. has a 12-month low of $1.00 and a 12-month high of $7.88. The company’s market cap is $65.34 million.
Stein Mart (NASDAQ:SMRT) last released its quarterly earnings results on Wednesday, August 16th. The company reported ($0.28) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.08). The firm had revenue of $311.03 million during the quarter, compared to analyst estimates of $303.97 million. Stein Mart had a negative net margin of 1.89% and a negative return on equity of 34.59%. Stein Mart’s quarterly revenue was down 2.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.06 earnings per share. On average, equities research analysts forecast that Stein Mart, Inc. will post ($0.22) earnings per share for the current year.
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.
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