Is Stein Mart, Inc. (SMRT) Going to Reward Investors?

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Now that we’ve mentioned the most bullish investors, let’s also take a look at some funds that got rid of their entire stakes in the stock during the third quarter. At the top of the heap, Neil Chriss’ Hutchin Hill Capital got rid of the largest position of all the investors followed by Insider Monkey, valued at about $0.3 million in stock, and Israel Englander’s Millennium Management was right behind this move, as the fund sold off about $0.2 million worth of shares.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Stein Mart, Inc. (NASDAQ:SMRT) but similarly valued. We will take a look at Glu Mobile Inc. (NASDAQ:GLUU), Consolidated-Tomoka Land Co. (NYSEAMEX:CTO), Heritage-Crystal Clean, Inc. (NASDAQ:HCCI), and Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP). This group of stocks’ market valuations resemble SMRT’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
GLUU 9 31180 0
CTO 8 121400 -1
HCCI 6 50196 2
CRBP 5 51279 -2

As you can see these stocks had an average of 7 hedge funds with bullish positions and the average amount invested in these stocks was $64 million. That figure was $36 million in SMRT’s case. Glu Mobile Inc. (NASDAQ:GLUU) is the most popular stock in this table. On the other hand Corbus Pharmaceuticals Holdings Inc (NASDAQ:CRBP) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks Stein Mart, Inc. (NASDAQ:SMRT) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None

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