Sportsman’s Warehouse Holdings, Inc. (NASDAQ:SPWH) Short Interest Down 29.2% in September

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

Sportsman’s Warehouse Stock Performance

Shares of NASDAQ SPWH traded down $0.12 during trading hours on Friday, reaching $2.85. The stock had a trading volume of 217,674 shares, compared to its average volume of 463,121. Sportsman’s Warehouse has a twelve month low of $1.81 and a twelve month high of $5.55. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.22 and a quick ratio of 0.07. The business’s fifty day moving average is $2.40 and its two-hundred day moving average is $2.80. The company has a market cap of $107.87 million, a price-to-earnings ratio of -3.39 and a beta of 0.67.

Insider Activity at Sportsman’s Warehouse

In other Sportsman’s Warehouse news, CEO Paul Stone bought 39,920 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was bought at an average cost 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 approximately $2,296,558.78. The purchase was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Paul Stone purchased 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, for a total transaction of $101,396.80. Following the purchase, the chief executive officer now owns 904,157 shares in the company, valued at approximately $2,296,558.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Richard D. Mcbee acquired 20,000 shares of the stock in a transaction dated Tuesday, September 10th. The shares were bought at an average cost of $2.55 per share, for a total transaction of $51,000.00. Following the acquisition, the director now owns 205,608 shares in the company, valued at approximately $524,300.40. The disclosure for this purchase can be found here. Insiders own 1.80% of the company’s stock.

Hedge Funds Weigh In On Sportsman’s Warehouse

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Sportsman’s Warehouse by 1.8% in the first quarter. Vanguard Group Inc. now owns 1,926,372 shares of the company’s stock valued at $5,991,000 after acquiring an additional 33,976 shares during the period. Gabelli Funds LLC grew its holdings in shares of Sportsman’s Warehouse by 2.5% in the 1st quarter. Gabelli Funds LLC now owns 1,257,829 shares of the company’s stock worth $3,912,000 after purchasing an additional 31,000 shares during the last quarter. GABELLI & Co INVESTMENT ADVISERS INC. increased its position in shares of Sportsman’s Warehouse by 19.5% during the 1st quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 744,738 shares of the company’s stock worth $2,316,000 after purchasing an additional 121,731 shares in the last quarter. GSA Capital Partners LLP bought a new position in Sportsman’s Warehouse during the 4th quarter valued at about $2,488,000. Finally, Gamco Investors INC. ET AL boosted its position in Sportsman’s Warehouse by 3.0% in the first quarter. Gamco Investors INC. ET AL now owns 517,325 shares of the company’s stock valued at $1,609,000 after buying an additional 15,200 shares in the last quarter. 83.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Robert W. Baird decreased their price objective on shares of Sportsman’s Warehouse from $4.00 to $2.50 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Roth Mkm lowered their price target on Sportsman’s Warehouse from $5.00 to $3.50 and set a “buy” rating on the stock in a research report on Tuesday, September 10th. Roth Capital raised Sportsman’s Warehouse to a “strong-buy” rating in a research report on Monday, June 3rd. Lake Street Capital decreased their target price on Sportsman’s Warehouse from $5.00 to $3.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Finally, Craig Hallum dropped their price target on Sportsman’s Warehouse from $4.00 to $3.00 and set a “hold” rating on the stock in a research report on Wednesday, September 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Sportsman’s Warehouse currently has an average rating of “Hold” and an average price target of $2.80.

About Sportsman’s Warehouse

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.