Smith & Wesson Brands, Inc. (NASDAQ:SWBI - Get Free Report) was the recipient of a large decrease in short interest during the month of December. As of December 31st, there was short interest totalling 1,420,000 shares, a decrease of 35.5% from the December 15th total of 2,200,000 shares. Approximately 3.3% of the company's shares are sold short. Based on an average trading volume of 619,100 shares, the days-to-cover ratio is presently 2.3 days.
Institutional Investors Weigh In On Smith & Wesson Brands
A number of hedge funds have recently bought and sold shares of the stock. Millennium Management LLC purchased a new stake in shares of Smith & Wesson Brands during the second quarter worth approximately $4,354,000. Marshall Wace LLP purchased a new stake in shares of Smith & Wesson Brands in the 2nd quarter valued at approximately $4,129,000. American Century Companies Inc. raised its holdings in shares of Smith & Wesson Brands by 28.3% in the 2nd quarter. American Century Companies Inc. now owns 1,046,287 shares of the company's stock valued at $15,004,000 after purchasing an additional 230,532 shares in the last quarter. Cubist Systematic Strategies LLC lifted its position in shares of Smith & Wesson Brands by 1,023.1% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 134,086 shares of the company's stock worth $1,923,000 after purchasing an additional 122,147 shares during the last quarter. Finally, Renaissance Technologies LLC grew its stake in shares of Smith & Wesson Brands by 2.7% during the second quarter. Renaissance Technologies LLC now owns 2,798,009 shares of the company's stock worth $40,123,000 after purchasing an additional 72,500 shares in the last quarter. Institutional investors and hedge funds own 59.33% of the company's stock.
Smith & Wesson Brands Trading Down 0.2 %
NASDAQ:SWBI traded down $0.02 on Tuesday, reaching $10.10. 346,450 shares of the company's stock were exchanged, compared to its average volume of 430,828. The business has a fifty day moving average of $11.68 and a 200-day moving average of $13.23. The company has a quick ratio of 1.43, a current ratio of 3.97 and a debt-to-equity ratio of 0.36. Smith & Wesson Brands has a 52-week low of $9.68 and a 52-week high of $18.05. The firm has a market capitalization of $444.43 million, a price-to-earnings ratio of 12.95 and a beta of 1.02.
Smith & Wesson Brands (NASDAQ:SWBI - Get Free Report) last released its earnings results on Thursday, December 5th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.17 by ($0.06). The business had revenue of $129.70 million for the quarter, compared to analyst estimates of $133.53 million. Smith & Wesson Brands had a return on equity of 8.78% and a net margin of 7.00%. Smith & Wesson Brands's quarterly revenue was up 3.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.14 earnings per share. As a group, analysts expect that Smith & Wesson Brands will post 0.47 earnings per share for the current year.
Smith & Wesson Brands Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Thursday, December 19th were paid a dividend of $0.13 per share. The ex-dividend date of this dividend was Thursday, December 19th. This represents a $0.52 annualized dividend and a yield of 5.15%. Smith & Wesson Brands's payout ratio is 66.67%.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on the stock. Craig Hallum downgraded shares of Smith & Wesson Brands from a "buy" rating to a "hold" rating and dropped their target price for the company from $18.00 to $13.00 in a report on Friday, December 6th. Lake Street Capital lowered Smith & Wesson Brands from a "buy" rating to a "hold" rating and lowered their price target for the stock from $18.00 to $13.00 in a research report on Friday, December 6th.
Read Our Latest Report on Smith & Wesson Brands
Smith & Wesson Brands Company Profile
(
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Smith & Wesson Brands, Inc designs, manufactures, and sells firearms worldwide. The company offers handguns, including revolvers and pistols; long guns, such as modern sporting rifles, bolt action rifles; handcuffs; suppressors; and other firearm-related products under the Smith & Wesson, M&P, and Gemtech brands.
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