Sportsman’s Warehouse Holdings, Inc. (NASDAQ:SPWH) Sees Large Decrease in Short Interest

Sportsman’s Warehouse Holdings, Inc. (NASDAQ:SPWH) saw a large decline in short interest in July. As of July 15th, there was short interest totalling 2,490,000 shares, a decline of 27.4% from the June 30th total of 3,430,000 shares. Based on an average trading volume of 518,500 shares, the days-to-cover ratio is currently 4.8 days. Currently, 7.0% of the company’s stock are short sold.

Insider Buying and Selling at Sportsman’s Warehouse

In related news, Director Steven W. Sansom purchased 10,000 shares of the stock in a transaction on Wednesday, June 12th. The shares were purchased at an average cost of $2.91 per share, for a total transaction of $29,100.00. Following the completion of the transaction, the director now directly owns 90,000 shares of the company’s stock, valued at approximately $261,900. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Sportsman’s Warehouse

Several institutional investors and hedge funds have recently modified their holdings of SPWH. Skylands Capital LLC raised its stake in shares of Sportsman’s Warehouse by 44.6% in the second quarter. Skylands Capital LLC now owns 194,000 shares of the company’s stock valued at $468,000 after acquiring an additional 59,800 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Sportsman’s Warehouse during the 1st quarter worth $85,000. Kennedy Capital Management LLC bought a new position in shares of Sportsman’s Warehouse during the first quarter worth about $187,000. GABELLI & Co INVESTMENT ADVISERS INC. increased its stake in shares of Sportsman’s Warehouse by 19.5% in the first quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 744,738 shares of the company’s stock valued at $2,316,000 after purchasing an additional 121,731 shares during the period. Finally, Gabelli Funds LLC boosted its stake in Sportsman’s Warehouse by 2.5% in the 1st quarter. Gabelli Funds LLC now owns 1,257,829 shares of the company’s stock worth $3,912,000 after purchasing an additional 31,000 shares during the period. Institutional investors and hedge funds own 83.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on SPWH. Roth Capital raised shares of Sportsman’s Warehouse to a “strong-buy” rating in a research report on Monday, June 3rd. Roth Mkm assumed coverage on shares of Sportsman’s Warehouse in a research note on Monday, June 3rd. They issued a “buy” rating and a $5.00 price target on the stock. Robert W. Baird dropped their price objective on shares of Sportsman’s Warehouse from $5.00 to $4.00 and set a “neutral” rating for the company in a report on Thursday, April 4th. Lake Street Capital lowered their price objective on shares of Sportsman’s Warehouse from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Wednesday, June 5th. Finally, B. Riley reduced their price target on shares of Sportsman’s Warehouse from $4.50 to $4.00 and set a “neutral” rating for the company in a research report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $4.40.

Sportsman’s Warehouse Price Performance

NASDAQ SPWH remained flat at $2.62 on Monday. The company had a trading volume of 277,373 shares, compared to its average volume of 475,888. The business has a 50-day simple moving average of $2.74 and a 200 day simple moving average of $3.24. Sportsman’s Warehouse has a 12 month low of $2.00 and a 12 month high of $6.34. The firm has a market cap of $98.91 million, a P/E ratio of -3.11 and a beta of 0.69.

Sportsman’s Warehouse (NASDAQ:SPWH) last issued its quarterly earnings results on Tuesday, June 4th. The company reported ($0.47) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.33) by ($0.14). The business had revenue of $244.24 million for the quarter, compared to the consensus estimate of $248.36 million. Sportsman’s Warehouse had a negative return on equity of 10.25% and a negative net margin of 2.48%. Sportsman’s Warehouse’s revenue was down 8.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.39) earnings per share. As a group, analysts anticipate that Sportsman’s Warehouse will post -0.24 EPS for the current year.

Sportsman’s Warehouse Company Profile

Sportsman's Warehouse Holdings, Inc, together with its subsidiaries, operates as an outdoor sporting goods retailer in the United States. It offers camping products, such as backpacks, camp essentials, canoes and kayaks, coolers, outdoor cooking equipment, sleeping bags, tents, and tools; and apparel products, including camouflage, jackets, hats, outerwear, sportswear, technical gear, and work wear.