Summer Infant, Inc. (NASDAQ:SUMR) major shareholder Wynnefield Partners Small Cap bought 238,364 shares of Summer Infant stock in a transaction on Monday, May 7th. The stock was purchased at an average price of $0.80 per share, with a total value of $190,691.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.
Summer Infant stock traded up $0.92 during trading hours on Thursday, reaching $0.92. The company has a current ratio of 1.81, a quick ratio of 0.95 and a debt-to-equity ratio of 3.55. The firm has a market capitalization of $17.28 million, a PE ratio of 30.83 and a beta of -0.37.
Summer Infant (NASDAQ:SUMR) last posted its quarterly earnings data on Thursday, May 3rd. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.03) by $0.01. Summer Infant had a negative net margin of 2.78% and a positive return on equity of 4.01%. The firm had revenue of $42.06 million for the quarter, compared to the consensus estimate of $40.24 million. sell-side analysts anticipate that Summer Infant, Inc. will post 0.1 earnings per share for the current year.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Quantum Capital Management increased its holdings in shares of Summer Infant by 18.6% during the first quarter. Quantum Capital Management now owns 337,936 shares of the company’s stock valued at $389,000 after acquiring an additional 52,942 shares in the last quarter. Municipal Employees Retirement System of Michigan acquired a new position in shares of Summer Infant during the fourth quarter valued at about $333,000. Renaissance Technologies LLC increased its holdings in shares of Summer Infant by 15.2% during the fourth quarter. Renaissance Technologies LLC now owns 340,800 shares of the company’s stock valued at $511,000 after acquiring an additional 45,000 shares in the last quarter. Finally, Kennedy Capital Management Inc. increased its holdings in shares of Summer Infant by 76.1% during the fourth quarter. Kennedy Capital Management Inc. now owns 514,142 shares of the company’s stock valued at $771,000 after acquiring an additional 222,217 shares in the last quarter. Hedge funds and other institutional investors own 51.63% of the company’s stock.
SUMR has been the subject of a number of recent research reports. ValuEngine downgraded shares of Summer Infant from a “buy” rating to a “hold” rating in a report on Tuesday, February 27th. Zacks Investment Research downgraded shares of Summer Infant from a “hold” rating to a “sell” rating in a report on Friday, January 12th. Finally, Roth Capital reiterated a “buy” rating on shares of Summer Infant in a report on Thursday, February 22nd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $2.50.
Summer Infant Company Profile
Summer Infant, Inc, together with its subsidiaries, designs, markets, and distributes branded juvenile health, safety, and wellness products primarily in North America. The company markets approximately 1,100 products in various product categories, such as monitoring, safety, nursery, baby gear, and feeding products under the Summer Infant, SwaddleMe, and Born Free brand names.
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