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

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

Insider Activity at Sportsman’s Warehouse

In other news, Director Steven W. Sansom purchased 10,000 shares of the company’s stock in a transaction on Wednesday, June 12th. The shares were acquired at an average price of $2.91 per share, for a total transaction of $29,100.00. Following the purchase, the director now owns 90,000 shares in the company, valued at $261,900. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 1.80% of the stock is owned by insiders.

Institutional Investors Weigh In On Sportsman’s Warehouse

Hedge funds and other institutional investors have recently bought and sold shares of the company. State Board of Administration of Florida Retirement System purchased a new stake in shares of Sportsman’s Warehouse during the 1st quarter valued at approximately $38,000. Abacus Planning Group Inc. purchased a new stake in shares of Sportsman’s Warehouse in the 4th quarter valued at approximately $81,000. Virtu Financial LLC acquired a new stake in Sportsman’s Warehouse in the 1st quarter valued at approximately $85,000. Quadrature Capital Ltd purchased a new position in shares of Sportsman’s Warehouse during the fourth quarter worth $88,000. Finally, Kennedy Capital Management LLC acquired a new stake in shares of Sportsman’s Warehouse in the first quarter valued at $187,000. 83.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. 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. Roth Capital upgraded shares of Sportsman’s Warehouse to a “strong-buy” rating in a research note on Monday, June 3rd. Roth Mkm began coverage on shares of Sportsman’s Warehouse in a research report on Monday, June 3rd. They set a “buy” rating and a $5.00 price target on the stock. Craig Hallum decreased their price objective on shares of Sportsman’s Warehouse from $5.00 to $4.00 and set a “hold” rating for the company in a research report on Wednesday, June 5th. Finally, Robert W. Baird cut their price target on Sportsman’s Warehouse from $5.00 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, April 4th. 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 company’s stock. According to MarketBeat.com, Sportsman’s Warehouse has a consensus rating of “Hold” and an average target price of $4.40.

Sportsman’s Warehouse Stock Performance

Shares of SPWH traded down $0.04 during trading hours on Friday, hitting $2.62. 194,367 shares of the stock were exchanged, compared to its average volume of 603,553. The stock’s 50-day moving average price is $2.74 and its two-hundred day moving average price is $3.25. Sportsman’s Warehouse has a 12-month low of $2.00 and a 12-month high of $6.34. The company has a market cap of $98.90 million, a price-to-earnings ratio of -3.12 and a beta of 0.69.

Sportsman’s Warehouse (NASDAQ:SPWH) last posted 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 company had revenue of $244.24 million during the quarter, compared to analysts’ expectations of $248.36 million. Sportsman’s Warehouse had a negative net margin of 2.48% and a negative return on equity of 10.25%. Sportsman’s Warehouse’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same quarter last year, the company earned ($0.39) earnings per share. On average, research analysts expect that Sportsman’s Warehouse will post -0.24 earnings per share 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.