Stein Mart, Inc. (NASDAQ:SMRT) was the target of a large increase in short interest in the month of May. As of May 31st, there was short interest totalling 10,433,990 shares, an increase of 68.7% from the May 15th total of 6,185,388 shares. Currently, 34.8% of the company’s shares are sold short. Based on an average daily trading volume, of 2,214,562 shares, the short-interest ratio is presently 4.7 days.

Shares of Stein Mart (SMRT) opened at 1.63 on Friday. Stein Mart has a 52-week low of $1.00 and a 52-week high of $9.23. The firm’s market capitalization is $76.91 million. The company’s 50-day moving average is $1.87 and its 200 day moving average is $3.40.

Stein Mart (NASDAQ:SMRT) last issued its quarterly earnings results on Wednesday, May 17th. The company reported $0.10 EPS for the quarter, missing analysts’ consensus estimates of $0.15 by $0.05. Stein Mart had a net margin of 0.84% and a return on equity of 16.09%. The business had revenue of $337.30 million for the quarter, compared to the consensus estimate of $362.21 million. During the same quarter in the previous year, the business earned $0.30 earnings per share. The firm’s revenue was down 5.2% on a year-over-year basis. Analysts expect that Stein Mart will post ($0.20) EPS for the current fiscal year.

Separately, TheStreet downgraded shares of Stein Mart from a “c” rating to a “d+” rating in a research 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 stock. Stein Mart has an average rating of “Hold” and a consensus price target of $7.50.

In other Stein Mart news, Chairman Jay Stein bought 900,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 24th. The shares were acquired at an average cost of $1.50 per share, for a total transaction of $1,350,000.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Richard L. Sisisky bought 50,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were acquired at an average price of $1.51 per share, for a total transaction of $75,500.00. Following the completion of the transaction, the director now owns 135,351 shares in the company, valued at $204,380.01. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 1,003,500 shares of company stock worth $1,505,595. 34.50% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of SMRT. Teachers Retirement System of The State of Kentucky boosted its position in shares of Stein Mart by 19.6% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 19,500 shares of the company’s stock worth $107,000 after buying an additional 3,200 shares during the last quarter. Teza Capital Management LLC purchased a new position in shares of Stein Mart during the fourth quarter valued at about $111,000. Trexquant Investment LP purchased a new position in shares of Stein Mart during the fourth quarter valued at about $158,000. Cigna Investments Inc. New purchased a new position in shares of Stein Mart during the fourth quarter valued at about $179,000. Finally, Comerica Bank boosted its position in shares of Stein Mart by 5.8% in the fourth quarter. Comerica Bank now owns 32,910 shares of the company’s stock valued at $131,000 after buying an additional 1,795 shares in the last quarter. Institutional investors and hedge funds own 51.14% of the company’s stock.

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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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