Stein Mart (NASDAQ:SMRT) Shares Down 17.8%

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Stein Mart, Inc. (NASDAQ:SMRT)’s share price fell 17.8% on Thursday . The stock traded as low as $0.53 and last traded at $0.46, 49,217 shares traded hands during trading. A decline of 96% from the average session volume of 1,377,082 shares. The stock had previously closed at $0.56.

Separately, ValuEngine upgraded shares of Stein Mart from a “strong sell” rating to a “sell” rating in a research note on Wednesday, May 27th.

The firm has a market cap of $29.46 million, a price-to-earnings ratio of -2.14 and a beta of 0.08. The stock’s 50 day moving average is $0.33 and its 200 day moving average is $0.59. The company has a current ratio of 1.13, a quick ratio of 0.13 and a debt-to-equity ratio of 14.14.

Stein Mart (NASDAQ:SMRT) last announced its quarterly earnings results on Wednesday, March 11th. The company reported ($0.01) EPS for the quarter. Stein Mart had a negative net margin of 0.85% and a negative return on equity of 27.36%. The company had revenue of $340.34 million during the quarter.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Renaissance Technologies LLC grew its stake in Stein Mart by 40.0% in the 4th quarter. Renaissance Technologies LLC now owns 111,905 shares of the company’s stock valued at $75,000 after buying an additional 32,000 shares during the last quarter. Morgan Stanley grew its stake in Stein Mart by 2,052.9% in the 1st quarter. Morgan Stanley now owns 257,381 shares of the company’s stock valued at $119,000 after buying an additional 245,426 shares during the last quarter. Beryl Capital Management LLC acquired a new position in Stein Mart in the 1st quarter valued at about $211,000. Finally, Geode Capital Management LLC grew its position in shares of Stein Mart by 376.5% during the 1st quarter. Geode Capital Management LLC now owns 766,827 shares of the company’s stock worth $354,000 after purchasing an additional 605,899 shares in the last quarter. Institutional investors and hedge funds own 9.32% of the company’s stock.

About Stein Mart (NASDAQ:SMRT)

Stein Mart, Inc a specialty off-price retailer, offers designer and name-brand fashion apparels, home d├ęcor 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.

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