Short Interest in Sportsman’s Warehouse Holdings, Inc. (NASDAQ:SPWH) Decreases By 27.4%

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

Insider Transactions at Sportsman’s Warehouse

In related news, Director Steven W. Sansom bought 10,000 shares of the business’s stock in a transaction on Wednesday, June 12th. The shares were bought at an average cost of $2.91 per share, for a total transaction of $29,100.00. Following the completion of the acquisition, the director now directly owns 90,000 shares in the company, valued at $261,900. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 1.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Sportsman’s Warehouse

A number of large investors have recently added to or reduced their stakes in the company. Teton Advisors Inc. boosted its position in shares of Sportsman’s Warehouse by 11.7% in the 1st quarter. Teton Advisors Inc. now owns 67,000 shares of the company’s stock worth $208,000 after purchasing an additional 7,000 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Sportsman’s Warehouse by 8.2% during the 1st quarter. Empowered Funds LLC now owns 106,328 shares of the company’s stock valued at $331,000 after purchasing an additional 8,034 shares during the last quarter. State Board of Administration of Florida Retirement System purchased a new position in shares of Sportsman’s Warehouse during the first quarter worth approximately $38,000. Gamco Investors INC. ET AL increased its position in shares of Sportsman’s Warehouse by 3.0% during the first quarter. Gamco Investors INC. ET AL now owns 517,325 shares of the company’s stock worth $1,609,000 after acquiring an additional 15,200 shares during the period. Finally, Abacus Planning Group Inc. purchased a new position in Sportsman’s Warehouse during the fourth quarter valued at approximately $81,000. Hedge funds and other institutional investors own 83.04% of the company’s stock.

Wall Street Analyst Weigh In

SPWH has been the topic of several analyst reports. Craig Hallum lowered their price objective on Sportsman’s Warehouse from $5.00 to $4.00 and set a “hold” rating on the stock in a research note on Wednesday, June 5th. Roth Mkm began coverage on 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. B. Riley decreased their target price on Sportsman’s Warehouse from $4.50 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, April 4th. Robert W. Baird lowered 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 research report on Thursday, April 4th. Finally, Lake Street Capital decreased their price objective on Sportsman’s Warehouse from $6.00 to $5.00 and set a “buy” rating for the company in a report on Wednesday, June 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $4.40.

Sportsman’s Warehouse Stock Performance

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

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

About Sportsman’s Warehouse

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.