Stein Mart (NASDAQ:SMRT) Trading 12.7% Higher
Stein Mart, Inc. (NASDAQ:SMRT) traded up 12.7% on Wednesday . The stock traded as high as $0.84 and last traded at $0.80, 292,446 shares changed hands during trading. An increase of 4% from the average session volume of 280,826 shares. The stock had previously closed at $0.71.
Separately, ValuEngine downgraded Stein Mart from a “hold” rating to a “sell” rating in a report on Wednesday, May 22nd.
The company has a fifty day simple moving average of $0.76 and a two-hundred day simple moving average of $0.90. The company has a current ratio of 1.14, a quick ratio of 0.17 and a debt-to-equity ratio of 10.45.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Augustine Asset Management Inc. purchased a new position in Stein Mart during the 2nd quarter worth approximately $62,000. D. E. Shaw & Co. Inc. purchased a new position in Stein Mart during the 2nd quarter worth approximately $70,000. Finally, Vanguard Group Inc. grew its stake in Stein Mart by 44.4% during the 2nd quarter. Vanguard Group Inc. now owns 976,732 shares of the company’s stock worth $840,000 after buying an additional 300,507 shares during the last quarter. Institutional investors and hedge funds own 7.86% of the company’s stock.
Stein Mart Company Profile (NASDAQ:SMRT)
Stein Mart, Inc a specialty off-price retailer, offers designer and name-brand fashion apparels, home décor merchandise, accessories, and shoes at everyday discount prices in the Unites States. The company's stores also provide merchandise locator services; a preferred customer program; co-branded and private label credit card programs; and electronic gift cards.
Read More: What is a Lock-Up Period?
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.