Here is What Hedge Funds Think About Stein Mart, Inc. (NASDAQ:SMRT)

Page 1 of 2

Is Stein Mart, Inc. (NASDAQ:SMRT) a worthy investment now? The smart money is taking a bearish view. The number of bullish hedge fund bets stayed the same which is a slightly negative development in our experience

At the moment, there are tons of indicators investors can use to analyze publicly traded companies. A couple of the best are hedge fund and insider trading interest. At Insider Monkey, our research analyses have shown that, historically, those who follow the best picks of the best hedge fund managers can trounce the broader indices by a superb amount (see just how much).

Stein Mart, Inc. (NASDAQ:SMRT)

Just as beneficial, positive insider trading activity is a second way to break down the financial markets. Obviously, there are lots of stimuli for an upper level exec to get rid of shares of his or her company, but only one, very simple reason why they would initiate a purchase. Various empirical studies have demonstrated the impressive potential of this strategy if investors understand where to look (learn more here).

With these “truths” under our belt, let’s take a gander at the recent action surrounding Stein Mart, Inc. (NASDAQ:SMRT).

How are hedge funds trading Stein Mart, Inc. (NASDAQ:SMRT)?

At the end of the first quarter, a total of 5 of the hedge funds we track were long in this stock, a change of 0% from the first quarter. With the smart money’s sentiment swirling, there exists a few key hedge fund managers who were increasing their holdings considerably.

Stein Mart Inc. (SMRT)According to our comprehensive database, Royce & Associates, managed by Chuck Royce, holds the largest position in Stein Mart, Inc. (NASDAQ:SMRT). Royce & Associates has a $31 million position in the stock, comprising 0.1% of its 13F portfolio. On Royce & Associates’s heels is Driehaus Capital, managed by Richard Driehaus, which held a $1.3 million position; 0.1% of its 13F portfolio is allocated to the stock. Other peers that are bullish include D. E. Shaw’s D E Shaw, Ken Griffin’s Citadel Investment Group and John Overdeck and David Siegel’s Two Sigma Advisors.

Because Stein Mart, Inc. (NASDAQ:SMRT) has witnessed falling interest from the smart money, we can see that there exists a select few funds that decided to sell off their entire stakes at the end of the first quarter. Intriguingly, Steven Cohen’s SAC Capital Advisors dropped the largest investment of the 450+ funds we key on, comprising about $0.1 million in stock. These moves are intriguing to say the least, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).

Insider trading activity in Stein Mart, Inc. (NASDAQ:SMRT)

Insider purchases made by high-level executives is most useful when the company in question has experienced transactions within the past six months. Over the latest 180-day time frame, Stein Mart, Inc. (NASDAQ:SMRT) has seen zero unique insiders purchasing, and zero insider sales (see the details of insider trades here).

Let’s check out hedge fund and insider activity in other stocks similar to Stein Mart, Inc. (NASDAQ:SMRT). These stocks are The Wet Seal, Inc. (NASDAQ:WTSL), Destination Maternity Corp (NASDAQ:DEST), Shoe Carnival, Inc. (NASDAQ:SCVL), bebe stores, inc. (NASDAQ:BEBE), and Tilly’s Inc (NYSE:TLYS). This group of stocks belong to the apparel stores industry and their market caps are closest to SMRT’s market cap.

Page 1 of 2

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The World’s Most Famous Circuses

Best Hair Stylists

Most Popular NASCAR Drivers

The Best Romance Movies of all Time

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

Best Travel Destinations in Australia

World’s Most Expensive Musical Instruments

World’s Most Famous Animals

Most Expensive Cakes in the World

Most Expensive Kosher Champagne in the World

Most Expensive Kosher Wine in the World

The Most Surprisingly Dark Fairy Tales

Most Popular Travel Destinations in Asia

The 10 Most Expensive Dresses Ever Worn to the Oscars

World’s Most Visited Art Museums

Best Countries for Photographers to Work in

Best Paid Jobs in the Film Industry

The Most Renowned Recovered Paintings Ever

Child Stars That Turned out Just Fine

Books That Were Banned in the Past Century

World’s Richest Dancers

Best Remedies against Bad Breath

Foods That Improve Your Skin Texture

Best-Selling Children’s Books of all Time

Foods That Boost Your Libido

Best-Selling Books of all Time

The Most Expensive Academy Awards Jewelry in History

Most Expensive Japanese Restaurant In New York City

The Best B-Boy Movies

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!