Short Interest in Smith & Wesson Brands, Inc. (NASDAQ:SWBI) Declines By 35.5%

Smith & Wesson Brands, Inc. (NASDAQ:SWBI) saw a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 1,420,000 shares, a decline of 35.5% from the December 15th total of 2,200,000 shares. Approximately 3.3% of the company’s shares are short sold. Based on an average trading volume of 619,100 shares, the short-interest ratio is currently 2.3 days.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in SWBI. Millennium Management LLC purchased a new position in shares of Smith & Wesson Brands during the second quarter valued at about $4,354,000. Marshall Wace LLP purchased a new position in shares of Smith & Wesson Brands during the 2nd quarter worth approximately $4,129,000. American Century Companies Inc. raised its position 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 worth $15,004,000 after acquiring an additional 230,532 shares in the last quarter. Cubist Systematic Strategies LLC lifted its stake in shares of Smith & Wesson Brands by 1,023.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 134,086 shares of the company’s stock valued at $1,923,000 after purchasing an additional 122,147 shares during the period. Finally, Renaissance Technologies LLC boosted its position 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 valued at $40,123,000 after purchasing an additional 72,500 shares in the last quarter. 59.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Lake Street Capital lowered Smith & Wesson Brands from a “buy” rating to a “hold” rating and reduced their price target for the stock from $18.00 to $13.00 in a research report on Friday, December 6th. Craig Hallum downgraded shares of Smith & Wesson Brands from a “buy” rating to a “hold” rating and decreased their target price for the stock from $18.00 to $13.00 in a research note on Friday, December 6th.

Smith & Wesson Brands Trading Up 1.5 %

Shares of NASDAQ SWBI traded up $0.15 during trading hours on Thursday, hitting $10.31. The company’s stock had a trading volume of 335,841 shares, compared to its average volume of 414,064. Smith & Wesson Brands has a 12 month low of $9.68 and a 12 month high of $18.05. The stock has a market cap of $453.64 million, a price-to-earnings ratio of 13.22 and a beta of 1.02. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.43 and a current ratio of 3.97. The business has a 50-day simple moving average of $11.62 and a 200-day simple moving average of $13.21.

Smith & Wesson Brands (NASDAQ:SWBI) last released its quarterly earnings data on Thursday, December 5th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.06). Smith & Wesson Brands had a return on equity of 8.78% and a net margin of 7.00%. The business had revenue of $129.70 million during the quarter, compared to analysts’ expectations of $133.53 million. During the same quarter last year, the business posted $0.14 EPS. The company’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, analysts anticipate that Smith & Wesson Brands will post 0.47 earnings per share for the current fiscal year.

Smith & Wesson Brands Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Thursday, December 19th were given a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 5.04%. The ex-dividend date was Thursday, December 19th. Smith & Wesson Brands’s payout ratio is currently 66.67%.

About Smith & Wesson Brands

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.