California State Teachers Retirement System lowered its stake in shares of Stage Stores Inc. (NYSE:SSI) by 20.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 53,765 shares of the company’s stock after selling 13,884 shares during the period. California State Teachers Retirement System owned 0.20% of Stage Stores worth $262,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. Wellington Management Group LLP increased its position in shares of Stage Stores by 5.1% in the first quarter. Wellington Management Group LLP now owns 3,913,995 shares of the company’s stock valued at $31,547,000 after buying an additional 191,364 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Stage Stores by 7.7% in the second quarter. Bank of New York Mellon Corp now owns 1,079,189 shares of the company’s stock valued at $5,267,000 after buying an additional 76,765 shares during the last quarter. Royce & Associates LP increased its position in shares of Stage Stores by 12.0% in the first quarter. Royce & Associates LP now owns 701,600 shares of the company’s stock valued at $5,655,000 after buying an additional 75,000 shares during the last quarter. Tocqueville Asset Management L.P. bought a new position in shares of Stage Stores during the second quarter valued at $1,555,000. Finally, Prudential Financial Inc. increased its position in shares of Stage Stores by 135.5% in the first quarter. Prudential Financial Inc. now owns 172,923 shares of the company’s stock valued at $1,394,000 after buying an additional 99,503 shares during the last quarter. 94.39% of the stock is owned by institutional investors and hedge funds.
Stage Stores Inc. (NYSE:SSI) traded down 1.74% during midday trading on Wednesday, hitting $5.07. The company’s stock had a trading volume of 261,553 shares. The company’s market cap is $137.67 million. The company’s 50-day moving average is $5.39 and its 200 day moving average is $5.85. Stage Stores Inc. has a one year low of $4.44 and a one year high of $11.34.
Stage Stores (NYSE:SSI) last announced its quarterly earnings data on Thursday, August 18th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by $0.02. The firm earned $338.40 million during the quarter, compared to analyst estimates of $347.07 million. Stage Stores had a negative net margin of 0.30% and a positive return on equity of 0.75%. The firm’s revenue for the quarter was down 11.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.22 earnings per share. On average, analysts predict that Stage Stores Inc. will post $0.17 EPS for the current year.
SSI has been the subject of several analyst reports. Telsey Advisory Group raised their price target on Stage Stores from $5.25 to $6.50 and gave the company a “market perform” rating in a report on Friday, August 19th. Zacks Investment Research downgraded Stage Stores from a “hold” rating to a “sell” rating in a report on Saturday, August 20th. Finally, B. Riley reiterated a “neutral” rating and issued a $4.80 price objective on shares of Stage Stores in a report on Wednesday, August 24th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $7.08.
Stage Stores Company 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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