Empyrean Capital Partners LP Reduces Position in Smart (SFS)
Empyrean Capital Partners LP decreased its holdings in shares of Smart (NYSE:SFS) by 12.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 720,283 shares of the company’s stock after selling 98,817 shares during the quarter. Empyrean Capital Partners LP owned approximately 0.97% of Smart worth $6,555,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Aperio Group LLC acquired a new stake in Smart during the second quarter worth about $125,000. American International Group Inc. raised its stake in Smart by 7.1% during the first quarter. American International Group Inc. now owns 14,236 shares of the company’s stock worth $172,000 after acquiring an additional 940 shares during the period. Trexquant Investment LP acquired a new stake in Smart during the second quarter worth about $157,000. California Public Employees Retirement System acquired a new stake in Smart during the second quarter worth about $165,000. Finally, Ameriprise Financial Inc. acquired a new stake in Smart during the second quarter worth about $223,000.
SFS has been the topic of several research reports. Morgan Stanley reiterated an “underweight” rating and set a $8.00 price objective (down previously from $11.00) on shares of Smart in a research note on Monday, June 19th. Zacks Investment Research lowered shares of Smart from a “buy” rating to a “hold” rating in a research note on Friday, August 11th. Deutsche Bank AG reiterated a “buy” rating and set a $12.00 price objective (down previously from $14.00) on shares of Smart in a research note on Wednesday, July 26th. TheStreet lowered shares of Smart from a “c-” rating to a “d+” rating in a research note on Tuesday, July 18th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $19.00 price objective on shares of Smart in a research note on Friday, July 21st. Two analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $19.47.
In other Smart news, SVP Michael A. Mortensen sold 19,304 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $7.59, for a total value of $146,517.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joseph S. Tesoriero purchased 5,000 shares of Smart stock in a transaction on Tuesday, September 12th. The stock was purchased at an average price of $6.95 per share, for a total transaction of $34,750.00. Following the completion of the transaction, the director now owns 20,140 shares of the company’s stock, valued at $139,973. The disclosure for this purchase can be found here. 8.47% of the stock is owned by insiders.
Shares of Smart (SFS) traded down 3.18% during midday trading on Friday, hitting $7.60. 56,705 shares of the company’s stock traded hands. The firm has a market capitalization of $562.55 million, a price-to-earnings ratio of 63.33 and a beta of 0.36. Smart has a 1-year low of $6.60 and a 1-year high of $15.45. The company has a 50 day moving average price of $7.34 and a 200 day moving average price of $9.90.
Smart (NYSE:SFS) last released its quarterly earnings results on Tuesday, July 25th. The company reported $0.12 EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.04). The firm had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.08 billion. Smart had a net margin of 0.21% and a return on equity of 4.14%. Smart’s quarterly revenue was up 3.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.20 earnings per share. Equities analysts anticipate that Smart will post $0.49 earnings per share for the current year.
Smart & Final Stores, Inc is a food retailer. The Company is engaged in the business of selling fresh perishables and everyday grocery items, together with foodservice, packaging and janitorial products. The Company operates through two segments: Smart & Final, and Cash and Carry. The Smart & Final segment focuses on both household and business customers.
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