John H. Williams, Jr. Buys 30,000 Shares of Stein Mart Inc. (SMRT) Stock
Stein Mart Inc. (NASDAQ:SMRT) Vice Chairman John H. Williams, Jr. bought 30,000 shares of the company’s stock in a transaction dated Monday, November 21st. The stock was bought at an average price of $5.10 per share, for a total transaction of $153,000.00. Following the acquisition, the insider now directly owns 141,700 shares of the company’s stock, valued at $722,670. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Stein Mart Inc. (NASDAQ:SMRT) opened at 5.17 on Thursday. The company’s 50-day moving average price is $6.02 and its 200-day moving average price is $7.23. The company has a market capitalization of $242.57 million, a price-to-earnings ratio of 21.02 and a beta of 0.76. Stein Mart Inc. has a one year low of $5.05 and a one year high of $9.23.
Stein Mart (NASDAQ:SMRT) last announced its quarterly earnings results on Thursday, November 17th. The company reported ($0.24) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.15) by $0.09. Stein Mart had a net margin of 0.84% and a return on equity of 16.09%. The business had revenue of $299.50 million for the quarter, compared to analysts’ expectations of $303.16 million. During the same quarter in the prior year, the firm earned $0.01 EPS. The firm’s revenue for the quarter was down .4% on a year-over-year basis. On average, equities research analysts predict that Stein Mart Inc. will post $0.33 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of SMRT. Prudential Financial Inc. increased its position in Stein Mart by 2.7% in the first quarter. Prudential Financial Inc. now owns 68,058 shares of the company’s stock worth $499,000 after buying an additional 1,800 shares during the period. AXA purchased a new position in Stein Mart during the first quarter worth $337,000. Kennedy Capital Management Inc. purchased a new position in Stein Mart during the first quarter worth $1,101,000. Louisiana State Employees Retirement System increased its position in Stein Mart by 1.6% in the second quarter. Louisiana State Employees Retirement System now owns 13,100 shares of the company’s stock worth $101,000 after buying an additional 200 shares during the period. Finally, Strs Ohio increased its position in Stein Mart by 2.0% in the second quarter. Strs Ohio now owns 82,500 shares of the company’s stock worth $636,000 after buying an additional 1,600 shares during the period. Hedge funds and other institutional investors own 51.67% of the company’s stock.
SMRT has been the topic of a number of recent research reports. TheStreet lowered Stein Mart from a “buy” rating to a “hold” rating in a report on Monday, September 26th. Zacks Investment Research lowered Stein Mart from a “hold” rating to a “sell” rating in a report on Tuesday, August 30th. Johnson Rice lowered Stein Mart from a “buy” rating to a “hold” rating in a report on Thursday, September 29th. Sidoti lowered Stein Mart from a “buy” rating to a “neutral” rating and dropped their target price for the company from $10.00 to $7.00 in a report on Thursday, September 29th. Finally, Credit Suisse Group AG set a $8.00 target price on Stein Mart and gave the company a “hold” rating in a report on Saturday, October 1st. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $7.50.
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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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