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.

Stein Mart (NASDAQ:SMRT) last released its earnings results on Wednesday, November 15th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.10). Stein Mart had a negative return on equity of 44.60% and a negative net margin of 2.18%. The business had revenue of $285.40 million during the quarter.

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.

TRADEMARK VIOLATION WARNING: “Stein Mart (SMRT) Shares Gap Up to $0.73” was originally posted by TheOlympiaReport and is owned by of TheOlympiaReport. If you are viewing this article on another publication, it was illegally stolen and reposted in violation of United States & international trademark and copyright legislation. The original version of this article can be viewed at https://theolympiareport.com/2018/02/02/stein-mart-smrt-shares-gap-up-to-0-73.html.

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.

Receive News & Ratings for Stein Mart Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stein Mart and related companies with MarketBeat.com's FREE daily email newsletter.