Paradigm Capital Management Inc. NY Invests $2.48 Million in Stage Stores, Inc. (SSI)
Paradigm Capital Management Inc. NY acquired a new position in shares of Stage Stores, Inc. (NYSE:SSI) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,191,938 shares of the company’s stock, valued at approximately $2,479,000. Paradigm Capital Management Inc. NY owned approximately 4.34% of Stage Stores as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Stage Stores by 44.7% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 5,100 shares of the company’s stock worth $251,000 after buying an additional 1,575 shares in the last quarter. Crescent Grove Advisors LLC bought a new position in shares of Stage Stores during the second quarter worth about $105,000. TIAA CREF Investment Management LLC grew its holdings in shares of Stage Stores by 9.0% during the first quarter. TIAA CREF Investment Management LLC now owns 84,264 shares of the company’s stock worth $218,000 after buying an additional 6,936 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Stage Stores during the first quarter worth about $246,000. Finally, LMR Partners LLP bought a new position in shares of Stage Stores during the second quarter worth about $203,000. Institutional investors and hedge funds own 62.50% of the company’s stock.
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SSI has been the subject of a number of research reports. Zacks Investment Research upgraded Stage Stores from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. ValuEngine downgraded Stage Stores from a “sell” rating to a “strong sell” rating in a report on Saturday, May 20th. Finally, B. Riley restated a “sell” rating and issued a $1.00 price target on shares of Stage Stores in a research note on Wednesday, May 24th. Two investment analysts have rated the stock with a sell rating and three have issued a hold rating to the company’s stock. Stage Stores presently has an average rating of “Hold” and an average target price of $2.00.
Stage Stores, Inc. (NYSE:SSI) traded up 0.282% on Tuesday, reaching $1.775. The company’s stock had a trading volume of 31,561 shares. The firm’s 50-day moving average price is $1.82 and its 200 day moving average price is $2.20. The company’s market cap is $48.97 million. Stage Stores, Inc. has a 52-week low of $1.45 and a 52-week high of $5.88.
Stage Stores (NYSE:SSI) last issued its quarterly earnings data on Thursday, August 17th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.04) by $0.11. The company had revenue of $377.10 million during the quarter, compared to analysts’ expectations of $374.78 million. Stage Stores had a negative return on equity of 7.78% and a negative net margin of 3.27%. The business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the company earned $0.03 earnings per share. Equities analysts anticipate that Stage Stores, Inc. will post ($0.90) EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 13th. Stockholders of record on Tuesday, August 29th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 11.30%. The ex-dividend date of this dividend is Friday, August 25th. Stage Stores’s dividend payout ratio (DPR) is presently -11.36%.
In related news, CEO Michael L. Glazer acquired 25,000 shares of the stock in a transaction dated Friday, July 7th. The stock was purchased at an average cost of $1.95 per share, with a total value of $48,750.00. Following the completion of the purchase, the chief executive officer now directly owns 1,087,938 shares in the company, valued at approximately $2,121,479.10. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Michael L. Glazer acquired 20,000 shares of the stock in a transaction dated Wednesday, June 28th. The stock was bought at an average cost of $2.14 per share, with a total value of $42,800.00. Following the completion of the purchase, the chief executive officer now owns 1,062,938 shares of the company’s stock, valued at $2,274,687.32. The disclosure for this purchase can be found here. Corporate insiders own 7.40% of the company’s stock.
Stage Stores Profile
Stage Stores, Inc operates specialty department stores mainly in small and mid-sized towns and communities. The Company’s department stores offer a range of brand name and private label apparel, accessories, cosmetics, footwear and home goods. The Company operates approximately 830 specialty department stores in over 40 states under the BEALLS, GOODY’S, PALAIS ROYAL, PEEBLES and STAGE nameplates and a direct-to-consumer business.
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