Stage Stores, Inc. (NYSE:SSI) Upgraded to “Sell” at ValuEngine

Stage Stores, Inc. (NYSE:SSI) was upgraded by ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued to investors on Friday, September 1st.

SSI has been the subject of several other reports. Zacks Investment Research upgraded shares of Stage Stores from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Johnson Rice cut shares of Stage Stores from an “accumulate” rating to a “hold” rating in a report on Friday, May 12th. Finally, B. Riley reissued a “sell” rating and set a $1.00 target price on shares of Stage Stores in a research note on Wednesday, May 24th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. Stage Stores currently has an average rating of “Hold” and an average target price of $2.00.

Stage Stores (NYSE SSI) opened at 1.90 on Friday. The stock has a 50 day moving average price of $1.81 and a 200-day moving average price of $2.18. Stage Stores has a one year low of $1.45 and a one year high of $5.88. The stock’s market cap is $52.43 million.

Stage Stores (NYSE:SSI) last released its quarterly earnings data on Thursday, August 17th. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $377.10 million for the quarter, compared to analyst estimates of $374.78 million. During the same quarter last year, the company earned $0.03 EPS. Stage Stores’s revenue was up 11.4% compared to the same quarter last year. Equities research analysts expect that Stage Stores will post ($0.90) earnings per share for the current fiscal year.

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In other news, CEO Michael L. Glazer bought 20,000 shares of the stock in a transaction that occurred on Wednesday, June 28th. The shares were acquired at an average cost of $2.14 per share, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael L. Glazer bought 25,000 shares of the company’s stock in a transaction on Friday, July 7th. The stock was bought at an average cost of $1.95 per share, with a total value of $48,750.00. Following the completion of the purchase, the chief executive officer now owns 1,087,938 shares of the company’s stock, valued at approximately $2,121,479.10. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 55,000 shares of company stock worth $109,050. 7.40% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Teachers Retirement System of The State of Kentucky grew its holdings in Stage Stores by 44.7% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 5,100 shares of the company’s stock valued at $251,000 after purchasing an additional 1,575 shares during the period. Crescent Grove Advisors LLC bought a new stake in Stage Stores during the second quarter worth $105,000. TIAA CREF Investment Management LLC raised its position in Stage Stores by 9.0% during the first quarter. TIAA CREF Investment Management LLC now owns 84,264 shares of the company’s stock worth $218,000 after acquiring an additional 6,936 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Stage Stores during the first quarter worth $246,000. Finally, LMR Partners LLP acquired a new position in shares of Stage Stores in the second quarter valued at $203,000. Hedge funds and other institutional investors own 62.50% of the company’s stock.

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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