Short Interest in Sportsman’s Warehouse Holdings, Inc. (NASDAQ:SPWH) Declines By 33.6%

Sportsman’s Warehouse Holdings, Inc. (NASDAQ:SPWH) was the target of a significant decline in short interest in September. As of September 30th, there was short interest totaling 817,200 shares, a decline of 33.6% from the September 15th total of 1,230,000 shares. Based on an average daily volume of 468,900 shares, the short-interest ratio is currently 1.7 days. Approximately 2.3% of the shares of the stock are sold short. Approximately 2.3% of the shares of the stock are sold short. Based on an average daily volume of 468,900 shares, the short-interest ratio is currently 1.7 days.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SPWH. Lake Street Capital boosted their target price on shares of Sportsman’s Warehouse from $3.00 to $3.50 and gave the stock a “buy” rating in a research note on Friday, September 5th. Roth Capital boosted their target price on shares of Sportsman’s Warehouse from $3.00 to $4.25 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Sportsman’s Warehouse in a research note on Wednesday, October 8th. Five investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Sportsman’s Warehouse currently has a consensus rating of “Moderate Buy” and a consensus price target of $3.45.

Insider Buying and Selling at Sportsman’s Warehouse

In other news, Director Michael D. Tucci acquired 50,000 shares of the stock in a transaction on Friday, October 3rd. The stock was acquired at an average cost of $2.81 per share, for a total transaction of $140,500.00. Following the completion of the transaction, the director directly owned 73,113 shares in the company, valued at approximately $205,447.53. This trade represents a 216.33% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Paul Stone acquired 59,979 shares of the stock in a transaction on Friday, October 3rd. The shares were purchased at an average price of $2.80 per share, with a total value of $167,941.20. Following the completion of the transaction, the chief executive officer owned 1,110,602 shares of the company’s stock, valued at approximately $3,109,685.60. This represents a 5.71% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 143,279 shares of company stock worth $390,609 over the last three months. Corporate insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Sportsman’s Warehouse

Several institutional investors have recently made changes to their positions in the stock. Manatuck Hill Partners LLC acquired a new position in shares of Sportsman’s Warehouse during the second quarter valued at about $1,229,000. BNP Paribas Financial Markets raised its holdings in shares of Sportsman’s Warehouse by 165.3% during the second quarter. BNP Paribas Financial Markets now owns 57,167 shares of the company’s stock valued at $197,000 after purchasing an additional 35,621 shares during the period. Bank of America Corp DE raised its holdings in shares of Sportsman’s Warehouse by 70.6% during the second quarter. Bank of America Corp DE now owns 286,712 shares of the company’s stock valued at $989,000 after purchasing an additional 118,666 shares during the period. Jane Street Group LLC raised its holdings in shares of Sportsman’s Warehouse by 37.9% during the second quarter. Jane Street Group LLC now owns 102,328 shares of the company’s stock valued at $353,000 after purchasing an additional 28,100 shares during the period. Finally, Raymond James Financial Inc. raised its holdings in shares of Sportsman’s Warehouse by 89.5% during the second quarter. Raymond James Financial Inc. now owns 567,386 shares of the company’s stock valued at $1,957,000 after purchasing an additional 267,995 shares during the period. Institutional investors and hedge funds own 83.04% of the company’s stock.

Sportsman’s Warehouse Price Performance

SPWH stock opened at $2.75 on Wednesday. The firm has a market cap of $105.69 million, a price-to-earnings ratio of -2.81 and a beta of 0.63. The company has a quick ratio of 0.06, a current ratio of 1.19 and a debt-to-equity ratio of 0.21. Sportsman’s Warehouse has a 12-month low of $0.92 and a 12-month high of $4.33. The company’s fifty day simple moving average is $2.90 and its 200 day simple moving average is $2.75.

Sportsman’s Warehouse (NASDAQ:SPWH) last released its earnings results on Thursday, September 4th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.12). The business had revenue of $293.90 million for the quarter, compared to analyst estimates of $291.56 million. Sportsman’s Warehouse had a negative net margin of 3.10% and a negative return on equity of 7.65%. Sportsman’s Warehouse has set its FY 2025 guidance at EPS. On average, analysts expect that Sportsman’s Warehouse will post -0.65 earnings per share for the current year.

Sportsman’s Warehouse Company Profile

Sportsman’s Warehouse Holdings, Inc engages in the retail of sporting and athletic goods. Its products include hunting and shooting, archery, fishing, camping, boating accessories, optics and electronics, knives and tools, and footwear. The company was founded in 1986 and is headquartered in West Jordan, UT.