Smith & Wesson Brands, Inc. (NASDAQ:SWBI) Short Interest Update

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

Smith & Wesson Brands Stock Performance

Shares of NASDAQ:SWBI traded up $0.15 during mid-day trading on Thursday, reaching $10.31. 335,841 shares of the company traded hands, compared to its average volume of 414,064. The company’s 50 day moving average price is $11.62 and its 200-day moving average price is $13.21. The firm has a market cap of $453.64 million, a PE ratio of 13.22 and a beta of 1.02. Smith & Wesson Brands has a 52 week low of $9.68 and a 52 week high of $18.05. The company has a debt-to-equity ratio of 0.36, a current ratio of 3.97 and a quick ratio of 1.43.

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

Smith & Wesson Brands Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Smith & Wesson Brands

Several large investors have recently made changes to their positions in SWBI. Renaissance Technologies LLC grew 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 worth $40,123,000 after purchasing an additional 72,500 shares in the last quarter. Geode Capital Management LLC grew its holdings in Smith & Wesson Brands by 0.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,067,955 shares of the company’s stock valued at $13,865,000 after buying an additional 7,260 shares in the last quarter. American Century Companies Inc. grew its holdings in Smith & Wesson Brands by 28.3% during the 2nd quarter. American Century Companies Inc. now owns 1,046,287 shares of the company’s stock valued at $15,004,000 after buying an additional 230,532 shares in the last quarter. Millennium Management LLC bought a new stake in shares of Smith & Wesson Brands during the second quarter valued at approximately $4,354,000. Finally, Marshall Wace LLP purchased a new position in shares of Smith & Wesson Brands in the second quarter worth $4,129,000. 59.33% of the stock is currently owned by hedge funds and other institutional investors.

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.