The stock of Stein Mart, Inc. (NASDAQ:SMRT) hit a new 52-week low and has $4.46 target or 12.00% below today’s $5.07 share price. The 5 months bearish chart indicates high risk for the $238.49M company. The 1-year low was reported on Nov, 21 by Barchart.com. If the $4.46 price target is reached, the company will be worth $28.62M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 437,668 shares traded hands or 132.12% up from the average. Stein Mart, Inc. (NASDAQ:SMRT) has declined 28.61% since April 19, 2016 and is downtrending. It has underperformed by 32.47% the S&P500.
Stein Mart, Inc. (NASDAQ:SMRT) Ratings Coverage
Out of 4 analysts covering Stein Mart (NASDAQ:SMRT), 2 rate it a “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. Stein Mart has been the topic of 4 analyst reports since July 29, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating given on Wednesday, July 29 by Northcoast. On Monday, May 9 the stock rating was downgraded by Northland Capital to “Neutral”. On Thursday, September 29 the stock rating was downgraded by Sidoti to “Neutral”. Johnson Rice downgraded Stein Mart, Inc. (NASDAQ:SMRT) on Friday, November 20 to “Accumulate” rating.
According to Zacks Investment Research, “Stein Mart, Inc. operates retail store chain offering fashionable, current-season, primarily branded merchandise comparable in quality and presentation to that of traditional department and fine specialty stores at prices typically 25% to 60% below those regularly charged by such stores. The company is focused on assorting merchandise that features moderate to designer brand-name apparel for women, men and children, as well as accessories, gifts, linens, shoes and fragrances.”
Insitutional Activity: The institutional sentiment increased to 1.5 in Q2 2016. Its up 0.21, from 1.29 in 2016Q1. The ratio is positive, as 8 funds sold all Stein Mart, Inc. shares owned while 34 reduced positions. 13 funds bought stakes while 41 increased positions. They now own 27.57 million shares or 18.94% more from 23.18 million shares in 2016Q1.
Principal Financial Group Inc accumulated 208,854 shares or 0% of the stock. Ubs Asset Mngmt Americas Inc last reported 0% of its portfolio in the stock. Pinebridge Investments L P accumulated 0% or 3,436 shares. Moreover, Northern Trust Corporation has 0% invested in Stein Mart, Inc. (NASDAQ:SMRT) for 417,979 shares. Manufacturers Life Insurance The holds 0% of its portfolio in Stein Mart, Inc. (NASDAQ:SMRT) for 25,052 shares. Teacher Retirement System Of Texas has 0% invested in the company for 4,140 shares. D E Shaw & has 204,501 shares for 0% of their US portfolio. Shell Asset Mgmt holds 0.01% of its portfolio in Stein Mart, Inc. (NASDAQ:SMRT) for 43,629 shares. Ameriprise Finance Inc last reported 0% of its portfolio in the stock. Ancora Advisors Ltd Llc holds 10,000 shares or 0.01% of its portfolio. The Pennsylvania-based Pnc Financial Service Group has invested 0% in Stein Mart, Inc. (NASDAQ:SMRT). State Board Of Administration Of Florida Retirement reported 35,449 shares or 0% of all its holdings. Gsa Cap Prns Llp owns 266,976 shares or 0.11% of their US portfolio. Citadel Advsrs Limited Com last reported 34,282 shares in the company. California State Teachers Retirement System has invested 0% of its portfolio in Stein Mart, Inc. (NASDAQ:SMRT).
Insider Transactions: Since June 10, 2016, the stock had 0 buys, and 2 selling transactions for $86,731 net activity. HAWKINS D HUNT had sold 10,000 shares worth $72,280 on Friday, June 10. Kleffner Gregory W had sold 1,700 shares worth $14,451 on Wednesday, August 24.
More notable recent Stein Mart, Inc. (NASDAQ:SMRT) news were published by: Fool.com which released: “Why Stein Mart, Inc. Stock Plunged Today” on November 17, 2016, also Fool.com with their article: “Why Stein Mart Inc. Shares Dropped 13% in November” published on December 06, 2015, Foxbusiness.com published: “Stein Mart CEO Resigned; Sales Running Below Plan” on September 29, 2016. More interesting news about Stein Mart, Inc. (NASDAQ:SMRT) were released by: Globenewswire.com and their article: “Stein Mart, Inc. Reports Second Quarter Fiscal 2016 Results” published on August 19, 2016 as well as Globenewswire.com‘s news article titled: “Stein Mart Announces Eight New Stores Opening This Fall” with publication date: August 03, 2016.
SMRT Company Profile
Stein Mart, Inc., incorporated on October 14, 1983, is a national retailer offering the fashion merchandise, service and presentation of a department or specialty store. The Firm offers apparel for women and men, as well as accessories, shoes and home fashions. The Company’s target clients are women over 45 years old. The Firm operates approximately 280 stores in over 30 states and an Internet store. The Company’s stores are located in the Northeast, Midwest, Southeast, Texas and the Southwest. It is concentrated in the Southeast and Texas where over 180 of its stores are located.
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