Schwab Charles Investment Management Inc. lowered its holdings in Stein Mart, Inc. (NASDAQ:SMRT) by 8.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,495 shares of the company’s stock after selling 5,758 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.13% of Stein Mart worth $106,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Callahan Advisors LLC purchased a new position in Stein Mart during the second quarter valued at approximately $509,000. Municipal Employees Retirement System of Michigan grew its stake in Stein Mart by 276.7% during the second quarter. Municipal Employees Retirement System of Michigan now owns 450,070 shares of the company’s stock valued at $760,000 after acquiring an additional 330,580 shares in the last quarter. Prescott Group Capital Management L.L.C. purchased a new position in Stein Mart during the second quarter valued at approximately $346,000. HighTower Advisors LLC grew its stake in Stein Mart by 87.8% in the 1st quarter. HighTower Advisors LLC now owns 58,545 shares of the company’s stock worth $179,000 after buying an additional 27,367 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in Stein Mart by 63.5% in the 1st quarter. Bank of America Corp DE now owns 129,643 shares of the company’s stock worth $390,000 after buying an additional 50,372 shares in the last quarter. 31.42% of the stock is currently owned by institutional investors.
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Stein Mart, Inc. (NASDAQ:SMRT) opened at $1.02 on Wednesday. Stein Mart, Inc. has a 12 month low of $0.89 and a 12 month high of $6.83. The company has a quick ratio of 0.26, a current ratio of 1.78 and a debt-to-equity ratio of 2.70.
Stein Mart (NASDAQ:SMRT) last announced its quarterly earnings data on Wednesday, August 16th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.20) by ($0.08). Stein Mart had a negative net margin of 1.89% and a negative return on equity of 34.59%. The business had revenue of $311.03 million during the quarter, compared to analysts’ expectations of $303.97 million. During the same period last year, the company posted $0.06 EPS. Stein Mart’s revenue for the quarter was down 2.7% on a year-over-year basis.
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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