Geode Capital Management LLC recently announced the acquisition of new stake in Stein Mart Inc. (NASDAQ:SMRT). The institutional investor has increased its shareholding in the Consumer Cyclical company by 376.50% to 0.77 million shares with purchase of 0.61 million shares. This fresh investment now brings its stake to 1.58% valued currently at $0.32 million. In addition, Beryl Capital Management LLC raised its holdings by 0.46 million to 0.46 million shares. And Morgan Stanley & Co. LLC has lifted its position by 432,238.60% or 0.25 million shares – to 0.25 million shares.
With over 4.03 million Stein Mart Inc. (SMRT) shares trading Tuesday and a closing price of $0.34 on the day, the dollar volume was approximately $1.37 million. The shares have shown a negative weekly performance of -4.87% and its price on 07/28/20 gained nearly 2.12%. Currently, there are 47.46M common shares owned by the public and among those 29.92M shares have been available to trade.
Insiders at the company have transacted a total of 24 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 18 of these insider trades were purchases, accounting for 453,860 shares. Insider sales of the common stock occurred on 6 occasions, with total insider shares sold totaling 45,138 shares.
The top 3 mutual fund holders in Stein Mart Inc. are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and Fidelity Extended Market Index Fu. Vanguard Total Stock Market Index owns 0.5 million shares of the company’s stock, all valued at over $0.21 million. Fidelity Extended Market Index Fu now owns shares totaling to 0.24% of the shares outstanding.
Shares of Stein Mart Inc. (NASDAQ: SMRT) opened at $0.3489, up $0.01 from a prior closing price of $0.34. However, the script later closed the day at $0.34, up 2.12%. The company’s stock has a 5-day price change of -4.87% and 24.45% over the past three months. SMRT shares are trading -48.88% year to date (YTD), with the 12-month market performance down to -57.50% lower. It has a 12-month low price of $0.23 and touched a high of $0.95 over the same period. Currently, 4.03 million shares have been traded, compared to an average intraday trading volume of 3.08 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -4.37%, -11.80%, and -41.33% respectively.
Institutional ownership of Stein Mart Inc. (NASDAQ: SMRT) shares accounts for 9.60% of the company’s 47.46M shares outstanding. Mutual fund holders own 43.31%, while other institutional holders and individual stakeholders account for 7.00% and 2.36% respectively.
It has a market capitalization of $16.05M and a beta (3y monthly) value of 0.05. The earnings-per-share (ttm) stands at -$1.69. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.45% over the week and 14.47% over the month.
Analysts forecast that Stein Mart Inc. (SMRT) will achieve an EPS of $0 for the current quarter, $0 for the next quarter and $0 for Next Year. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0. EPS should grow at an annualized rate of 17.00% over the next five years, compared to -18.90% over the past 5-year period.
Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the SMRT, a number of firms have released research notes about the stock. Sidoti stated their Neutral rating for the stock in a research note on September 29, 2016, with the firm’s price target at. Northcoast coverage for the Stein Mart Inc. (SMRT) stock in a research note released on May 09, 2016 offered a Neutral rating with a price target of. Johnson Rice was of a view on November 20, 2015 that the stock is Accumulate, while Northcoast gave the stock Buy rating on July 29, 2015, issuing a price target of. Canaccord Genuity on their part issued Buy rating on November 20, 2014.