Ameriprise Financial Inc. Has $493,000 Stake in Stein Mart, Inc. (SMRT)

Ameriprise Financial Inc. increased its stake in Stein Mart, Inc. (NASDAQ:SMRT) by 5.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 163,606 shares of the company’s stock after buying an additional 7,980 shares during the period. Ameriprise Financial Inc. owned about 0.35% of Stein Mart worth $493,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of SMRT. Sunbelt Securities Inc. boosted its position in shares of Stein Mart by 238.2% in the first quarter. Sunbelt Securities Inc. now owns 130,718 shares of the company’s stock valued at $393,000 after buying an additional 92,071 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Stein Mart by 4.1% in the first quarter. Bank of New York Mellon Corp now owns 824,232 shares of the company’s stock valued at $2,480,000 after buying an additional 32,372 shares during the period. First Trust Advisors LP boosted its position in shares of Stein Mart by 433.3% in the first quarter. First Trust Advisors LP now owns 185,097 shares of the company’s stock valued at $557,000 after buying an additional 150,392 shares during the period. Wells Fargo & Company MN boosted its position in shares of 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 during the period. Finally, Cumberland Partners Ltd boosted its position in shares of Stein Mart by 333.3% in the first quarter. Cumberland Partners Ltd now owns 65,000 shares of the company’s stock valued at $196,000 after buying an additional 50,000 shares during the period. Institutional investors and hedge funds own 41.73% of the company’s stock.

Stein Mart, Inc. (NASDAQ SMRT) traded up 3.31% on Wednesday, reaching $1.25. 773,650 shares of the company’s stock were exchanged. The firm has a 50-day moving average price of $1.36 and a 200-day moving average price of $2.24. Stein Mart, Inc. has a 1-year low of $1.00 and a 1-year high of $9.01. The company’s market capitalization is $59.53 million.

Stein Mart (NASDAQ:SMRT) last announced its quarterly earnings results on Wednesday, May 17th. The company reported $0.10 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.15 by $0.05. The company had revenue of $337.30 million during the quarter, compared to analysts’ expectations of $362.21 million. Stein Mart had a negative net margin of 0.69% and a negative return on equity of 10.71%. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.30 EPS. Equities research analysts expect that Stein Mart, Inc. will post ($0.09) earnings per share for the current year.

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Separately, TheStreet cut shares of Stein Mart from a “c” rating to a “d+” rating in a report on Wednesday, May 17th. One research analyst has rated the stock with a sell rating and three have given a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $7.50.

In other Stein Mart news, Director Mitchell W. Legler bought 45,000 shares of the company’s stock in a transaction on Wednesday, May 24th. The stock was purchased at an average cost of $1.54 per share, for a total transaction of $69,300.00. Following the acquisition, the director now owns 274,108 shares of the company’s stock, valued at approximately $422,126.32. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard L. Sisisky bought 50,000 shares of the company’s stock in a transaction on Tuesday, May 23rd. The shares were acquired at an average price of $1.51 per share, with a total value of $75,500.00. Following the completion of the acquisition, the director now directly owns 135,351 shares in the company, valued at approximately $204,380.01. The disclosure for this purchase can be found here. Insiders bought a total of 1,003,500 shares of company stock valued at $1,505,595 in the last quarter. Insiders own 34.70% of the company’s stock.

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.