Sportsman’s Warehouse Holdings, Inc. (NASDAQ:SPWH) Sees Significant Decline in Short Interest

Sportsman’s Warehouse Holdings, Inc. (NASDAQ:SPWH) was the recipient of a large drop in short interest in the month of September. As of September 15th, there was short interest totalling 1,140,000 shares, a drop of 29.2% from the August 31st total of 1,610,000 shares. Based on an average trading volume of 495,600 shares, the days-to-cover ratio is presently 2.3 days. Currently, 3.2% of the shares of the company are sold short.

Insider Activity at Sportsman’s Warehouse

In other Sportsman’s Warehouse news, CEO Paul Stone bought 39,920 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were purchased at an average cost of $2.54 per share, for a total transaction of $101,396.80. Following the transaction, the chief executive officer now directly owns 904,157 shares in the company, valued at $2,296,558.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Sportsman’s Warehouse news, CEO Paul Stone bought 39,920 shares of the stock in a transaction that occurred on Monday, September 9th. The shares were purchased at an average cost of $2.54 per share, for a total transaction of $101,396.80. Following the transaction, the chief executive officer now directly owns 904,157 shares in the company, valued at $2,296,558.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Richard D. Mcbee bought 20,000 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was acquired at an average price of $2.55 per share, for a total transaction of $51,000.00. Following the completion of the transaction, the director now owns 205,608 shares in the company, valued at $524,300.40. The disclosure for this purchase can be found here. 1.80% of the stock is owned by insiders.

Institutional Trading of Sportsman’s Warehouse

Several hedge funds and other institutional investors have recently modified their holdings of the company. Teton Advisors Inc. raised its holdings in shares of Sportsman’s Warehouse by 11.7% during the first quarter. Teton Advisors Inc. now owns 67,000 shares of the company’s stock worth $208,000 after acquiring an additional 7,000 shares in the last quarter. Empowered Funds LLC raised its holdings in Sportsman’s Warehouse by 8.2% during the first quarter. Empowered Funds LLC now owns 106,328 shares of the company’s stock valued at $331,000 after buying an additional 8,034 shares in the last quarter. Steel Grove Capital Advisors LLC raised its holdings in Sportsman’s Warehouse by 11.1% during the second quarter. Steel Grove Capital Advisors LLC now owns 100,000 shares of the company’s stock valued at $241,000 after buying an additional 10,000 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in shares of Sportsman’s Warehouse in the first quarter valued at about $38,000. Finally, Gamco Investors INC. ET AL grew its position in shares of Sportsman’s Warehouse by 3.0% in the first quarter. Gamco Investors INC. ET AL now owns 517,325 shares of the company’s stock valued at $1,609,000 after purchasing an additional 15,200 shares during the last quarter. 83.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SPWH shares. Roth Mkm decreased their price target on Sportsman’s Warehouse from $5.00 to $3.50 and set a “buy” rating for the company in a research note on Tuesday, September 10th. Craig Hallum decreased their price target on Sportsman’s Warehouse from $4.00 to $3.00 and set a “hold” rating for the company in a research note on Wednesday, September 4th. Robert W. Baird decreased their price target on Sportsman’s Warehouse from $4.00 to $2.50 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Lake Street Capital decreased their price target on Sportsman’s Warehouse from $5.00 to $3.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Finally, Roth Capital raised Sportsman’s Warehouse to a “strong-buy” rating in a research note on Monday, June 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Sportsman’s Warehouse presently has a consensus rating of “Hold” and an average target price of $2.80.

Sportsman’s Warehouse Stock Performance

Shares of Sportsman’s Warehouse stock opened at $2.85 on Friday. The stock has a market cap of $107.87 million, a PE ratio of -3.39 and a beta of 0.67. The business has a fifty day simple moving average of $2.40 and a 200-day simple moving average of $2.80. The company has a quick ratio of 0.07, a current ratio of 1.22 and a debt-to-equity ratio of 0.10. Sportsman’s Warehouse has a 12 month low of $1.81 and a 12 month high of $5.55.

Sportsman’s Warehouse (NASDAQ:SPWH) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.09) by ($0.05). Sportsman’s Warehouse had a negative return on equity of 12.00% and a negative net margin of 2.74%. The firm had revenue of $288.73 million for the quarter, compared to analysts’ expectations of $284.00 million. On average, sell-side analysts anticipate that Sportsman’s Warehouse will post -0.74 EPS for the current fiscal 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.