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

Sportsman’s Warehouse Holdings, Inc. (NASDAQ:SPWH) saw a significant decrease in short interest during 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. Based on an average daily volume of 518,500 shares, the short-interest ratio is presently 4.8 days. Approximately 7.0% of the shares of the stock are short sold.

Insider Buying and Selling

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

Hedge Funds Weigh In On Sportsman’s Warehouse

Institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP purchased a new position in Sportsman’s Warehouse during the 4th quarter valued at about $2,488,000. GABELLI & Co INVESTMENT ADVISERS INC. grew its stake in shares of Sportsman’s Warehouse by 19.5% in the first quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 744,738 shares of the company’s stock worth $2,316,000 after acquiring an additional 121,731 shares during the last quarter. CastleKnight Management LP bought a new position in shares of Sportsman’s Warehouse during the fourth quarter valued at $384,000. Fund 1 Investments LLC purchased a new position in shares of Sportsman’s Warehouse in the 4th quarter worth about $375,000. Finally, Kennedy Capital Management LLC purchased a new stake in Sportsman’s Warehouse during the 1st quarter valued at about $187,000. Institutional investors own 83.04% of the company’s stock.

Sportsman’s Warehouse Price Performance

NASDAQ:SPWH traded down $0.04 during trading hours on Friday, hitting $2.62. The company had a trading volume of 194,367 shares, compared to its average volume of 603,553. Sportsman’s Warehouse has a 52 week low of $2.00 and a 52 week high of $6.34. The company has a market capitalization of $98.90 million, a PE ratio of -3.12 and a beta of 0.69. The stock has a 50-day moving average price of $2.74 and a 200 day moving average price of $3.25.

Sportsman’s Warehouse (NASDAQ:SPWH) last issued its quarterly earnings data on Tuesday, June 4th. The company reported ($0.47) EPS for the quarter, missing the consensus estimate of ($0.33) by ($0.14). Sportsman’s Warehouse had a negative return on equity of 10.25% and a negative net margin of 2.48%. The company had revenue of $244.24 million during the quarter, compared to analysts’ expectations of $248.36 million. During the same quarter last year, the business earned ($0.39) earnings per share. The business’s quarterly revenue was down 8.7% on a year-over-year basis. Analysts anticipate that Sportsman’s Warehouse will post -0.24 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Roth Capital raised Sportsman’s Warehouse to a “strong-buy” rating in a research note on Monday, June 3rd. B. Riley lowered their price target on shares of Sportsman’s Warehouse from $4.50 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, April 4th. Lake Street Capital reduced their price objective on Sportsman’s Warehouse from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Wednesday, June 5th. Robert W. Baird lowered their target price 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. Finally, Roth Mkm assumed coverage on 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $4.40.

About Sportsman’s Warehouse

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.