Stein Mart (NASDAQ:SMRT) Shares Up 19%

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Stein Mart, Inc. (NASDAQ:SMRT) shot up 19% during mid-day trading on Wednesday . The company traded as high as $0.95 and last traded at $0.94, 531,231 shares were traded during mid-day trading. An increase of 82% from the average session volume of 292,166 shares. The stock had previously closed at $0.79.

Separately, ValuEngine downgraded shares of Stein Mart from a “hold” rating to a “sell” rating in a report on Wednesday, May 22nd.

The company has a quick ratio of 0.19, a current ratio of 1.18 and a debt-to-equity ratio of 10.68. The stock’s fifty day simple moving average is $0.81 and its 200-day simple moving average is $0.94.

Stein Mart (NASDAQ:SMRT) last posted its quarterly earnings data on Wednesday, August 21st. The company reported ($0.04) earnings per share (EPS) for the quarter. The business had revenue of $296.33 million during the quarter. Stein Mart had a negative net margin of 0.75% and a negative return on equity of 21.82%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Virtu Financial LLC purchased a new position in shares of Stein Mart in the first quarter worth about $29,000. Augustine Asset Management Inc. bought a new position in shares of Stein Mart in the second quarter valued at approximately $62,000. Vanguard Group Inc. boosted its position in shares of Stein Mart by 44.4% in the second quarter. Vanguard Group Inc. now owns 976,732 shares of the company’s stock valued at $840,000 after acquiring an additional 300,507 shares during the period. Finally, D. E. Shaw & Co. Inc. bought a new stake in Stein Mart during the second quarter valued at approximately $70,000. 7.18% of the stock is owned by hedge funds and other institutional investors.

Stein Mart Company Profile (NASDAQ:SMRT)

Stein Mart, Inc a specialty off-price retailer, offers designer and name-brand fashion apparels, home d├ęcor 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.

Read More: How Do You Calculate Return on Equity (ROE)?

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