TIAA CREF Investment Management LLC grew its stake in shares of Stage Stores, Inc. (NYSE:SSI) by 9.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 84,264 shares of the company’s stock after buying an additional 6,936 shares during the quarter. TIAA CREF Investment Management LLC owned approximately 0.31% of Stage Stores worth $218,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dynamic Technology Lab Private Ltd bought a new stake in shares of Stage Stores during the first quarter worth $246,000. Parametric Portfolio Associates LLC grew its stake in shares of Stage Stores by 16.8% during the first quarter. Parametric Portfolio Associates LLC now owns 258,830 shares of the company’s stock worth $670,000 after buying an additional 37,308 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Stage Stores during the fourth quarter worth $993,000. 62.50% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Stage Stores, Inc. (SSI) opened at 1.88 on Friday. Stage Stores, Inc. has a 52 week low of $1.45 and a 52 week high of $5.88. The company’s market cap is $51.74 million. The company has a 50 day moving average of $1.81 and a 200 day moving average of $2.19.
Stage Stores (NYSE:SSI) last announced its quarterly earnings results on Thursday, August 17th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.11). The firm had revenue of $377.10 million during the quarter, compared to the consensus estimate of $374.78 million. Stage Stores had a negative return on equity of 7.78% and a negative net margin of 3.27%. Stage Stores’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the business earned $0.03 EPS. On average, analysts expect that Stage Stores, Inc. will post ($0.90) EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, September 13th. Shareholders of record on Tuesday, August 29th were issued a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 10.67%. The ex-dividend date of this dividend was Friday, August 25th. Stage Stores’s dividend payout ratio (DPR) is presently -11.36%.
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In related news, CEO Michael L. Glazer bought 20,000 shares of the business’s stock in a transaction dated Wednesday, June 28th. The shares were purchased at an average price of $2.14 per share, with a total value of $42,800.00. Following the purchase, the chief executive officer now owns 1,062,938 shares of the company’s stock, valued at approximately $2,274,687.32. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael L. Glazer bought 25,000 shares of the business’s stock in a transaction dated Friday, July 7th. The shares were bought at an average cost of $1.95 per share, for a total transaction of $48,750.00. Following the purchase, the chief executive officer now directly owns 1,087,938 shares in the company, valued at approximately $2,121,479.10. The disclosure for this purchase can be found here. In the last three months, insiders acquired 55,000 shares of company stock worth $109,050. Insiders own 7.40% of the company’s stock.
SSI has been the topic of a number of research reports. B. Riley reaffirmed a “sell” rating and set a $1.00 target price on shares of Stage Stores in a research note on Wednesday, August 23rd. ValuEngine cut shares of Stage Stores from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 20th. Finally, Zacks Investment Research raised shares of Stage Stores from a “sell” rating to a “hold” rating in a research note on Thursday, July 20th. Two analysts have rated the stock with a sell rating and three have given a hold rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $2.00.
About Stage Stores
Stage Stores, Inc operates specialty department stores mainly in small and mid-sized towns and communities. The Company’s department stores offer a range of brand name and private label apparel, accessories, cosmetics, footwear and home goods. The Company operates approximately 830 specialty department stores in over 40 states under the BEALLS, GOODY’S, PALAIS ROYAL, PEEBLES and STAGE nameplates and a direct-to-consumer business.
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