Short Interest in Smith & Wesson Brands, Inc. (NASDAQ:SWBI) Drops By 22.5%

Smith & Wesson Brands, Inc. (NASDAQ:SWBI) was the recipient of a large decrease in short interest during the month of February. As of February 28th, there was short interest totalling 1,550,000 shares, a decrease of 22.5% from the February 13th total of 2,000,000 shares. Based on an average daily volume of 647,900 shares, the days-to-cover ratio is presently 2.4 days. Currently, 3.6% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Craig Hallum lowered shares of Smith & Wesson Brands from a “buy” rating to a “hold” rating and reduced their price target for the company from $18.00 to $13.00 in a research report on Friday, December 6th. Lake Street Capital reduced their price target on shares of Smith & Wesson Brands from $13.00 to $12.50 and set a “buy” rating for the company in a research report on Friday, March 7th.

Smith & Wesson Brands Stock Performance

Shares of NASDAQ:SWBI traded down $0.03 during mid-day trading on Tuesday, reaching $9.83. 153,354 shares of the company traded hands, compared to its average volume of 455,941. The company’s 50 day moving average price is $10.47 and its 200-day moving average price is $11.84. The firm has a market cap of $432.33 million, a PE ratio of 12.59 and a beta of 1.09. 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 has a 52 week low of $9.17 and a 52 week high of $18.05.

Smith & Wesson Brands (NASDAQ:SWBI) last announced its quarterly earnings data on Thursday, March 6th. The company reported $0.02 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.02. The company had revenue of $115.89 million during the quarter, compared to the consensus estimate of $119.46 million. Smith & Wesson Brands had a return on equity of 8.78% and a net margin of 7.00%. On average, equities analysts expect that Smith & Wesson Brands will post 0.47 EPS for the current fiscal year.

Smith & Wesson Brands Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Thursday, March 20th will be paid a dividend of $0.13 per share. The ex-dividend date of this dividend is Thursday, March 20th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.29%. Smith & Wesson Brands’s dividend payout ratio (DPR) is presently 80.00%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. GSA Capital Partners LLP boosted its stake in Smith & Wesson Brands by 380.9% in the 3rd quarter. GSA Capital Partners LLP now owns 62,197 shares of the company’s stock worth $807,000 after purchasing an additional 49,264 shares during the period. Empowered Funds LLC boosted its stake in Smith & Wesson Brands by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 73,923 shares of the company’s stock worth $960,000 after purchasing an additional 3,752 shares during the period. Aviance Capital Partners LLC boosted its stake in Smith & Wesson Brands by 18.5% in the 3rd quarter. Aviance Capital Partners LLC now owns 88,408 shares of the company’s stock worth $1,148,000 after purchasing an additional 13,830 shares during the period. Intech Investment Management LLC bought a new position in Smith & Wesson Brands in the 3rd quarter worth approximately $163,000. Finally, Verition Fund Management LLC bought a new position in Smith & Wesson Brands in the 3rd quarter worth approximately $369,000. 59.33% of the stock is currently owned by institutional investors.

Smith & Wesson Brands Company Profile

Smith & Wesson Brands, Inc is a holding company, which engages in the manufacture, design, and provision of firearms. Its portfolio includes handguns, long guns, handcuffs, suppressor, and other firearm-related products. The firm’s brands are Smith & Wesson, M&P, Thompson/Center Arms, and Gemtech.