Tocqueville Asset Management L.P. Continues to Hold Position in Summer Infant, Inc. (SUMR)
Tocqueville Asset Management L.P. maintained its stake in shares of Summer Infant, Inc. (NASDAQ:SUMR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 185,008 shares of the company’s stock at the end of the second quarter. Tocqueville Asset Management L.P. owned about 1.00% of Summer Infant worth $327,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Wynnefield Capital Inc. raised its stake in Summer Infant by 1.9% in the first quarter. Wynnefield Capital Inc. now owns 5,789,794 shares of the company’s stock valued at $11,000,000 after buying an additional 110,000 shares in the last quarter. Renaissance Technologies LLC raised its stake in Summer Infant by 4.4% in the first quarter. Renaissance Technologies LLC now owns 220,100 shares of the company’s stock valued at $418,000 after buying an additional 9,300 shares in the last quarter. Finally, Tiemann Investment Advisors LLC bought a new stake in Summer Infant during the first quarter valued at approximately $331,000. Hedge funds and other institutional investors own 47.62% of the company’s stock.
Shares of Summer Infant, Inc. (SUMR) opened at 2.15 on Thursday. The firm has a 50-day moving average price of $1.80 and a 200 day moving average price of $1.84. Summer Infant, Inc. has a 52-week low of $1.65 and a 52-week high of $2.37. The stock’s market cap is $39.97 million.
Summer Infant (NASDAQ:SUMR) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.01. Summer Infant had a positive return on equity of 0.56% and a negative net margin of 1.82%. The company had revenue of $52.58 million for the quarter, compared to analysts’ expectations of $46.33 million. Analysts expect that Summer Infant, Inc. will post $0.14 earnings per share for the current year.
Several equities research analysts have commented on SUMR shares. Zacks Investment Research upgraded Summer Infant from a “strong sell” rating to a “hold” rating in a research report on Saturday, May 6th. Roth Capital set a $3.00 price objective on Summer Infant and gave the stock a “buy” rating in a research report on Tuesday, August 22nd. ValuEngine lowered Summer Infant from a “hold” rating to a “sell” rating in a research report on Friday, June 23rd. Finally, FBR & Co restated an “outperform” rating and issued a $2.50 price objective on shares of Summer Infant in a research report on Tuesday, July 11th.
In other news, major shareholder Wynnefield Partners Small Cap purchased 15,000 shares of the stock in a transaction dated Monday, August 7th. The shares were bought at an average cost of $1.86 per share, for a total transaction of $27,900.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.30% of the stock is currently owned by company insiders.
About Summer Infant
Summer Infant, Inc is an infant and juvenile products company. The Company is engaged in the juvenile industry, providing mothers and caregivers a range of products to care for babies and toddlers. As of December 31, 2016, it marketed over 1,100 products in several product categories, including monitoring, safety, nursery, baby gear and feeding products.
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