Bank of New York Mellon Corp cut its stake in Stage Stores, Inc. (NYSE:SSI) by 58.3% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 591,217 shares of the company’s stock after selling 827,889 shares during the period. Bank of New York Mellon Corp owned about 2.18% of Stage Stores worth $1,532,000 as of its most recent filing with the SEC.
Separately, Norges Bank purchased a new position in shares of Stage Stores during the fourth quarter valued at approximately $993,000. Institutional investors and hedge funds own 68.60% of the company’s stock.
Shares of Stage Stores, Inc. (NYSE SSI) traded down 4.74% during trading on Friday, reaching $1.81. 899,485 shares of the company traded hands. The stock’s market cap is $49.84 million. Stage Stores, Inc. has a 12 month low of $1.45 and a 12 month high of $6.32. The stock’s 50 day moving average price is $1.86 and its 200-day moving average price is $2.28.
Stage Stores (NYSE:SSI) last released its quarterly earnings results on Thursday, August 17th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by $0.11. Stage Stores had a negative return on equity of 7.78% and a negative net margin of 3.27%. The firm had revenue of $377.10 million for the quarter, compared to analyst estimates of $374.78 million. During the same period last year, the company earned $0.03 EPS. The company’s revenue was up 11.4% compared to the same quarter last year. On average, equities research analysts expect that Stage Stores, Inc. will post ($1.01) EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 13th. Shareholders of record on Tuesday, August 29th will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 11.05%. The ex-dividend date is Friday, August 25th. Stage Stores’s dividend payout ratio (DPR) is currently -11.36%.
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Several analysts recently commented on SSI shares. Zacks Investment Research upgraded shares of Stage Stores from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. B. Riley restated a “sell” rating and set a $1.00 price target on shares of Stage Stores in a report on Wednesday, May 24th. ValuEngine cut shares of Stage Stores from a “sell” rating to a “strong sell” rating in a report on Saturday, May 20th. Finally, Johnson Rice cut shares of Stage Stores from an “accumulate” rating to a “hold” rating in a report on Friday, May 12th. Two equities research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $3.50.
In related news, CEO Michael L. Glazer acquired 25,000 shares of the business’s stock in a transaction dated Friday, July 7th. The stock was bought at an average price of $1.95 per share, with a total value of $48,750.00. Following the acquisition, the chief executive officer now owns 1,087,938 shares in the company, valued at approximately $2,121,479.10. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael L. Glazer acquired 20,000 shares of the business’s stock in a transaction dated Wednesday, June 28th. The stock was bought at an average cost of $2.14 per share, with a total value of $42,800.00. Following the acquisition, the chief executive officer now owns 1,062,938 shares in the company, valued at approximately $2,274,687.32. The disclosure for this purchase can be found here. Corporate insiders own 7.40% of the company’s stock.
Stage Stores Company Profile
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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