Investors Purchase Large Volume of Call Options on Sportsman’s Warehouse (NASDAQ:SPWH)

Sportsman’s Warehouse Holdings, Inc. (NASDAQ:SPWH) was the recipient of some unusual options trading on Wednesday. Investors bought 6,054 call options on the company. This is an increase of 3,379% compared to the average volume of 174 call options.

Hedge Funds Weigh In On Sportsman’s Warehouse

Institutional investors and hedge funds have recently made changes to their positions in the stock. Portolan Capital Management LLC raised its stake in Sportsman’s Warehouse by 146.7% during the 4th quarter. Portolan Capital Management LLC now owns 2,334,248 shares of the company’s stock worth $6,232,000 after buying an additional 1,387,935 shares during the period. Marshall Wace LLP increased its holdings in shares of Sportsman’s Warehouse by 365.9% during the fourth quarter. Marshall Wace LLP now owns 1,203,805 shares of the company’s stock valued at $3,214,000 after acquiring an additional 945,438 shares in the last quarter. Walleye Capital LLC acquired a new position in shares of Sportsman’s Warehouse during the fourth quarter worth approximately $948,000. Renaissance Technologies LLC bought a new position in shares of Sportsman’s Warehouse in the 4th quarter worth $857,000. Finally, Raymond James Financial Inc. acquired a new stake in Sportsman’s Warehouse in the 4th quarter valued at $806,000. Institutional investors own 83.04% of the company’s stock.

Sportsman’s Warehouse Trading Up 99.6 %

NASDAQ SPWH traded up $0.96 during trading hours on Wednesday, hitting $1.93. 69,832,793 shares of the company’s stock were exchanged, compared to its average volume of 849,821. The firm has a market cap of $73.11 million, a price-to-earnings ratio of -2.22 and a beta of 0.75. Sportsman’s Warehouse has a 1-year low of $0.92 and a 1-year high of $4.44. The stock has a 50-day simple moving average of $1.53 and a 200 day simple moving average of $2.17. The company has a current ratio of 1.20, a quick ratio of 0.06 and a debt-to-equity ratio of 0.10.

Sportsman’s Warehouse (NASDAQ:SPWH) last released its earnings results on Tuesday, April 1st. The company reported $0.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.12. The company had revenue of $340.40 million for the quarter, compared to the consensus estimate of $328.67 million. Sportsman’s Warehouse had a negative net margin of 2.69% and a negative return on equity of 11.72%. On average, equities analysts forecast that Sportsman’s Warehouse will post -0.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Craig Hallum upgraded shares of Sportsman’s Warehouse from a “hold” rating to a “buy” rating and set a $3.00 price target for the company in a research report on Wednesday. B. Riley upgraded Sportsman’s Warehouse from a “neutral” rating to a “buy” rating and increased their price objective for the company from $2.00 to $4.00 in a report on Wednesday, December 11th. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Sportsman’s Warehouse presently has an average rating of “Moderate Buy” and a consensus price target of $3.20.

Sportsman’s Warehouse Company Profile

Sportsman’s Warehouse Holdings, Inc engages in the retail of sporting and athletic goods. Its products include hunting and shooting, archery, fishing, camping, boating accessories, optics and electronics, knives and tools, and footwear. The company was founded in 1986 and is headquartered in West Jordan, UT.