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

Sportsman’s Warehouse Holdings, Inc. (NASDAQ:SPWH) saw a large decrease in short interest in September. As of September 15th, there was short interest totaling 351,823 shares, a decrease of 48.2% from the August 31st total of 679,124 shares. Approximately 0.9% of the company’s stock are sold short. Based on an average daily trading volume, of 1,013,618 shares, the days-to-cover ratio is currently 0.3 days.

Hedge Funds Weigh In On Sportsman’s Warehouse

Several hedge funds have recently made changes to their positions in SPWH. Squarepoint Ops LLC acquired a new stake in shares of Sportsman’s Warehouse during the second quarter worth about $28,000. Two Sigma Securities LLC acquired a new position in Sportsman’s Warehouse during the second quarter worth approximately $25,000. JB Capital Partners LP purchased a new stake in Sportsman’s Warehouse in the second quarter valued at approximately $2,275,356. Empowered Funds LLC boosted its holdings in shares of Sportsman’s Warehouse by 5.6% in the first quarter. Empowered Funds LLC now owns 203,195 shares of the company’s stock valued at $287,000 after acquiring an additional 10,837 shares during the period. Finally, NewEdge Advisors LLC purchased a new position in shares of Sportsman’s Warehouse during the first quarter worth approximately $170,000. Hedge funds and other institutional investors own 83.04% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on SPWH shares. Weiss Ratings lowered Sportsman’s Warehouse from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Friday, September 25th. Zacks Research lowered Sportsman’s Warehouse from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 6th. Finally, Wall Street Zen raised Sportsman’s Warehouse from a “sell” rating to a “hold” rating in a research report on Saturday, June 6th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $2.12.

Sportsman’s Warehouse Stock Performance

NASDAQ:SPWH opened at $1.13 on Thursday. Sportsman’s Warehouse has a 1 year low of $1.08 and a 1 year high of $3.35. The stock has a market cap of $44.23 million, a P/E ratio of -0.92 and a beta of 0.42. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.07 and a current ratio of 1.17. The stock has a 50-day simple moving average of $1.18 and a 200-day simple moving average of $1.28.

Sportsman’s Warehouse (NASDAQ:SPWH) last posted its earnings results on Tuesday, September 1st. The company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.12) by $0.04. The firm had revenue of $295.58 million during the quarter, compared to analysts’ expectations of $295.05 million. Sportsman’s Warehouse had a negative return on equity of 10.50% and a negative net margin of 3.94%. As a group, analysts anticipate that Sportsman’s Warehouse will post -0.31 earnings per share for the current fiscal year.

Sportsman’s Warehouse Company Profile

Sportsman’s Warehouse Holdings, Inc operates specialty sporting-goods stores and an e-commerce platform serving outdoor enthusiasts in the United States. The company focuses on products for hunting, shooting, fishing, camping, hiking and other outdoor activities.

Its merchandise includes firearms, ammunition, archery equipment, fishing tackle, camping gear, outdoor footwear and apparel, optics, knives, footwear, and related accessories. Sportsman’s Warehouse also provides services such as firearm transfers, gunsmithing, hunting and fishing licenses, and equipment-related support at select locations.

Founded in 1986, the company is headquartered in Utah and has historically maintained a store presence concentrated in the western United States, including Alaska, while its online business allows it to serve customers more broadly.