Point72 Hong Kong Ltd Takes $208,000 Position in Smith & Wesson Brands, Inc. (NASDAQ:SWBI)

Point72 Hong Kong Ltd acquired a new stake in Smith & Wesson Brands, Inc. (NASDAQ:SWBI) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 14,536 shares of the company’s stock, valued at approximately $208,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of SWBI. Fund 1 Investments LLC bought a new position in shares of Smith & Wesson Brands in the 4th quarter valued at about $4,790,000. Marshall Wace LLP bought a new position in shares of Smith & Wesson Brands in the 2nd quarter valued at about $4,129,000. American Century Companies Inc. grew its position in shares of Smith & Wesson Brands by 28.3% in the 2nd quarter. American Century Companies Inc. now owns 1,046,287 shares of the company’s stock valued at $15,004,000 after acquiring an additional 230,532 shares during the period. Cubist Systematic Strategies LLC grew its position in shares of Smith & Wesson Brands by 1,023.1% in the 2nd quarter. Cubist Systematic Strategies LLC now owns 134,086 shares of the company’s stock valued at $1,923,000 after acquiring an additional 122,147 shares during the period. Finally, Renaissance Technologies LLC grew its position in shares of Smith & Wesson Brands by 2.7% in the 2nd quarter. Renaissance Technologies LLC now owns 2,798,009 shares of the company’s stock valued at $40,123,000 after acquiring an additional 72,500 shares during the period. Institutional investors own 59.33% of the company’s stock.

Smith & Wesson Brands Stock Performance

NASDAQ SWBI opened at $12.97 on Friday. The firm has a 50-day moving average of $14.53 and a 200-day moving average of $15.70. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.19 and a current ratio of 3.54. The stock has a market cap of $581.70 million, a PE ratio of 15.08 and a beta of 1.01. Smith & Wesson Brands, Inc. has a 52-week low of $11.96 and a 52-week high of $18.05.

Smith & Wesson Brands (NASDAQ:SWBI) last posted its earnings results on Thursday, September 5th. The company reported ($0.02) earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of ($0.02). The company had revenue of $88.33 million during the quarter, compared to analysts’ expectations of $102.52 million. Smith & Wesson Brands had a net margin of 6.74% and a return on equity of 9.20%. Smith & Wesson Brands’s quarterly revenue was down 22.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.13 EPS.

Smith & Wesson Brands Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Shareholders of record on Thursday, September 19th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 4.01%. The ex-dividend date of this dividend is Thursday, September 19th. Smith & Wesson Brands’s dividend payout ratio (DPR) is 60.47%.

Insiders Place Their Bets

In related news, Director Robert L. Scott sold 2,000 shares of Smith & Wesson Brands stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $16.07, for a total transaction of $32,140.00. Following the sale, the director now directly owns 67,569 shares of the company’s stock, valued at approximately $1,085,833.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.99% of the company’s stock.

Analyst Ratings Changes

Separately, Lake Street Capital raised their target price on shares of Smith & Wesson Brands from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, June 21st.

Smith & Wesson Brands Company Profile

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.