Wednesday, April 11, 2012

Stewart Enterprises Announces a Restructure

Stewart Enterprises (STEI) issued the following press release today (02012.04.11): Stewart Enterprises Announces Organizational Restructure, Workforce Reduction.

I consider this good news because I believe Stewart has the management team to execute a successful restructuring.

Stewart is planning on eliminating approximately 60 positions.

STEI closed yesterday (02012.04.10) at $5.97. 52-week range: $4.92 - $8.35. Although it has fallen, STEI still has a high SIR (Short Interest Ratio) of ~28.

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