Stein Mart, Inc. (NASDAQ:SMRT) traded up 19% during trading on Wednesday . The stock traded as high as $0.95 and last traded at $0.94, 531,231 shares changed hands during 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 current ratio of 1.18, a quick ratio of 0.19 and a debt-to-equity ratio of 10.68. The company’s fifty day simple moving average is $0.81 and its 200 day simple moving average is $0.94.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC purchased a new stake in shares of Stein Mart in the first quarter worth about $29,000. Augustine Asset Management Inc. purchased a new stake in shares of Stein Mart in the second quarter worth about $62,000. D. E. Shaw & Co. Inc. purchased a new stake in shares of Stein Mart in the second quarter worth about $70,000. Finally, Vanguard Group Inc. lifted its holdings 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 worth $840,000 after buying an additional 300,507 shares in the last quarter. 7.18% of the stock is currently owned by institutional investors and hedge funds.
Stein Mart Company Profile (NASDAQ:SMRT)
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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