Stein Mart, Inc. (NASDAQ:SMRT) saw a large drop in short interest during the month of June. As of June 30th, there was short interest totalling 4,302,700 shares, a drop of 6.5% from the May 30th total of 4,602,200 shares. Currently, 13.9% of the shares of the company are sold short. Based on an average daily trading volume, of 494,900 shares, the days-to-cover ratio is currently 8.7 days.
Separately, ValuEngine upgraded shares of Westpac Banking from a “sell” rating to a “hold” rating in a research report on Wednesday, May 22nd.
A hedge fund recently bought a new stake in Stein Mart stock. Virtu Financial LLC bought a new position in Stein Mart, Inc. (NASDAQ:SMRT) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 29,587 shares of the company’s stock, valued at approximately $29,000. Virtu Financial LLC owned 0.06% of Stein Mart at the end of the most recent reporting period. Institutional investors and hedge funds own 7.86% of the company’s stock.
Stein Mart (NASDAQ:SMRT) last posted its quarterly earnings data on Wednesday, May 22nd. The company reported $0.08 earnings per share for the quarter. Stein Mart had a negative net margin of 0.75% and a negative return on equity of 21.82%. The company had revenue of $314.16 million during the quarter.
About Stein Mart
Stein Mart, Inc a specialty off-price retailer, offers designer and name-brand fashion apparels, home décor 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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