Stein Mart (SMRT) Shares Gap Up to $0.73
Shares of Stein Mart, Inc. (NASDAQ:SMRT) gapped up before the market opened on Wednesday . The stock had previously closed at $0.70, but opened at $0.73. Stein Mart shares last traded at $0.71, with a volume of 772325 shares traded.
Separately, ValuEngine upgraded shares of Stein Mart from a “hold” rating to a “buy” rating in a report on Monday.
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 $31.26, a price-to-earnings ratio of -1.05 and a beta of 0.82.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SMRT. Arcus Capital Partners LLC raised its holdings in shares of Stein Mart by 30.0% in the 2nd quarter. Arcus Capital Partners LLC now owns 130,000 shares of the company’s stock worth $220,000 after purchasing an additional 30,000 shares in the last quarter. Sunbelt Securities Inc. raised its holdings in shares of Stein Mart by 1.7% in the 2nd quarter. Sunbelt Securities Inc. now owns 133,000 shares of the company’s stock worth $225,000 after purchasing an additional 2,282 shares in the last quarter. HighTower Advisors LLC raised its holdings in shares of Stein Mart by 193.6% in the 2nd quarter. HighTower Advisors LLC now owns 171,863 shares of the company’s stock worth $292,000 after purchasing an additional 113,318 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of Stein Mart in the third quarter worth approximately $372,000. Finally, Principal Financial Group Inc. increased its position in shares of Stein Mart by 0.7% in the second quarter. Principal Financial Group Inc. now owns 236,851 shares of the company’s stock worth $400,000 after acquiring an additional 1,592 shares in the last quarter. Institutional investors and hedge funds own 19.99% 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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