JPMorgan Chase & Co. cut its stake in Stein Mart, Inc. (NASDAQ:SMRT) by 71.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,454 shares of the company’s stock after selling 152,940 shares during the period. JPMorgan Chase & Co. owned approximately 0.13% of Stein Mart worth $102,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Airain ltd purchased a new position in Stein Mart in the second quarter valued at about $100,000. KCG Holdings Inc. increased its holdings in Stein Mart by 92.6% in the first quarter. KCG Holdings Inc. now owns 36,085 shares of the company’s stock valued at $109,000 after buying an additional 17,346 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Stein Mart by 18.2% in the first quarter. Wells Fargo & Company MN now owns 46,457 shares of the company’s stock valued at $140,000 after buying an additional 7,146 shares in the last quarter. HighTower Advisors LLC increased its holdings in Stein Mart by 87.8% in the first quarter. HighTower Advisors LLC now owns 58,545 shares of the company’s stock valued at $179,000 after buying an additional 27,367 shares in the last quarter. Finally, LMR Partners LLP purchased a new position in Stein Mart in the second quarter valued at about $184,000. 32.99% of the stock is owned by institutional investors.
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Stein Mart, Inc. (SMRT) opened at 1.09 on Tuesday. The stock’s market capitalization is $52.23 million. The firm has a 50-day moving average of $1.26 and a 200-day moving average of $1.50. Stein Mart, Inc. has a one year low of $1.00 and a one year high of $6.93.
Stein Mart (NASDAQ:SMRT) last issued its quarterly earnings results on Wednesday, August 16th. The company reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.08). The company had revenue of $311.03 million during the quarter, compared to analyst estimates of $303.97 million. Stein Mart had a negative return on equity of 34.59% and a negative net margin of 1.89%. The company’s revenue was down 2.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.06 earnings per share. On average, equities research analysts forecast that Stein Mart, Inc. will post ($0.22) earnings per share for the current year.
Stein Mart Company Profile
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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