Denali Advisors LLC Lowers Stock Position in Smith & Wesson Brands, Inc. (NASDAQ:SWBI)

Denali Advisors LLC lowered its position in shares of Smith & Wesson Brands, Inc. (NASDAQ:SWBI) by 12.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 143,520 shares of the company’s stock after selling 20,596 shares during the quarter. Denali Advisors LLC owned about 0.32% of Smith & Wesson Brands worth $2,058,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in Smith & Wesson Brands by 311.0% during the second quarter. Blue Trust Inc. now owns 2,133 shares of the company’s stock valued at $31,000 after buying an additional 1,614 shares during the period. nVerses Capital LLC purchased a new position in Smith & Wesson Brands during the second quarter valued at $130,000. Allspring Global Investments Holdings LLC lifted its position in Smith & Wesson Brands by 1,653.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 9,256 shares of the company’s stock valued at $161,000 after buying an additional 8,728 shares during the period. TrueMark Investments LLC purchased a new position in Smith & Wesson Brands during the second quarter valued at $149,000. Finally, Keynote Financial Services LLC purchased a new position in Smith & Wesson Brands during the first quarter valued at $199,000. Hedge funds and other institutional investors own 59.33% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Smith & Wesson Brands Price Performance

Shares of NASDAQ:SWBI opened at $13.24 on Tuesday. Smith & Wesson Brands, Inc. has a 1-year low of $11.32 and a 1-year high of $18.05. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.54 and a quick ratio of 1.19. The business has a fifty day moving average price of $14.74 and a 200-day moving average price of $15.75. The company has a market capitalization of $593.81 million, a PE ratio of 15.40 and a beta of 1.01.

Smith & Wesson Brands (NASDAQ:SWBI) last issued its quarterly earnings results on Thursday, September 5th. The company reported ($0.02) earnings per share for the quarter, meeting the consensus estimate of ($0.02). Smith & Wesson Brands had a return on equity of 9.20% and a net margin of 6.74%. The firm had revenue of $88.33 million during the quarter, compared to the consensus estimate of $102.52 million. During the same period last year, the company earned $0.13 earnings per share. The company’s revenue was down 22.7% on a year-over-year basis.

Smith & Wesson Brands Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 3rd. Investors of record on Thursday, September 19th will be issued a $0.13 dividend. The ex-dividend date is Thursday, September 19th. This represents a $0.52 annualized dividend and a yield of 3.93%. Smith & Wesson Brands’s payout ratio is 60.47%.

Insider Buying and Selling

In related news, Director Robert L. Scott sold 2,000 shares of Smith & Wesson Brands stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $16.07, for a total value of $32,140.00. Following the completion of the sale, the director now directly owns 67,569 shares in the company, valued at approximately $1,085,833.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.99% of the stock is owned by corporate insiders.

Smith & Wesson Brands 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.