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

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

Sportsman’s Warehouse Trading Down 4.0 %

Shares of NASDAQ SPWH opened at $2.85 on Friday. The stock’s 50 day moving average price is $2.40 and its two-hundred day moving average price is $2.80. Sportsman’s Warehouse has a 52-week low of $1.81 and a 52-week high of $5.55. The stock has a market capitalization of $107.87 million, a P/E ratio of -3.39 and a beta of 0.67. 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 (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 net margin of 2.74% and a negative return on equity of 12.00%. The firm had revenue of $288.73 million for the quarter, compared to analyst estimates of $284.00 million. On average, analysts anticipate that Sportsman’s Warehouse will post -0.74 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Institutional Trading of Sportsman’s Warehouse

Several institutional investors and hedge funds have recently bought and sold shares of SPWH. CastleKnight Management LP acquired a new stake in Sportsman’s Warehouse during the fourth quarter valued at approximately $384,000. Fund 1 Investments LLC acquired a new stake in shares of Sportsman’s Warehouse during the 4th quarter worth approximately $375,000. GSA Capital Partners LLP acquired a new stake in shares of Sportsman’s Warehouse during the 4th quarter worth approximately $2,488,000. Quadrature Capital Ltd acquired a new stake in shares of Sportsman’s Warehouse during the 4th quarter worth approximately $88,000. Finally, Empowered Funds LLC raised its position in shares of Sportsman’s Warehouse by 8.2% during the 1st quarter. Empowered Funds LLC now owns 106,328 shares of the company’s stock worth $331,000 after purchasing an additional 8,034 shares during the period. Institutional investors and hedge funds own 83.04% of the company’s stock.

Analyst Ratings Changes

SPWH has been the subject of several analyst reports. Craig Hallum decreased their target price on Sportsman’s Warehouse from $4.00 to $3.00 and set a “hold” rating for the company in a research report on Wednesday, September 4th. Lake Street Capital reduced their price target on Sportsman’s Warehouse from $5.00 to $3.00 and set a “buy” rating for the company in a report on Wednesday, September 4th. B. Riley reduced their price target on Sportsman’s Warehouse from $4.00 to $2.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Robert W. Baird reduced their price target on Sportsman’s Warehouse from $4.00 to $2.50 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Finally, Roth Mkm reduced their price target on Sportsman’s Warehouse from $5.00 to $3.50 and set a “buy” rating for the company in a report on Tuesday, September 10th. 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 stock. According to MarketBeat.com, Sportsman’s Warehouse currently has a consensus rating of “Hold” and a consensus price target of $2.80.

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.