Sportsman’s Warehouse (NASDAQ:SPWH) Issues Earnings Results, Misses Expectations By $0.01 EPS

Sportsman’s Warehouse (NASDAQ:SPWH) posted its earnings results on Thursday. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.01), FiscalAI reports. The firm had revenue of $331.32 million for the quarter, compared to analysts’ expectations of $331.11 million. Sportsman’s Warehouse had a negative return on equity of 7.65% and a negative net margin of 3.10%.

Sportsman’s Warehouse Price Performance

Shares of NASDAQ SPWH traded up $0.04 during midday trading on Thursday, reaching $2.45. The stock had a trading volume of 1,160,414 shares, compared to its average volume of 1,071,198. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.06 and a current ratio of 1.19. Sportsman’s Warehouse has a 12-month low of $0.92 and a 12-month high of $4.33. The stock has a 50-day moving average of $2.47 and a 200-day moving average of $2.89. The company has a market capitalization of $94.15 million, a price-to-earnings ratio of -2.50 and a beta of 0.60.

Insider Buying and Selling

In related news, Director Michael D. Tucci acquired 50,000 shares of Sportsman’s Warehouse stock in a transaction dated Friday, October 3rd. The shares were purchased at an average price 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 represents a 216.33% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Paul Stone bought 59,979 shares of the stock in a transaction dated Friday, October 3rd. The stock was bought at an average cost of $2.80 per share, for a total transaction of $167,941.20. Following the acquisition, the chief executive officer directly 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 position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders acquired 143,279 shares of company stock worth $390,609. 2.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Sportsman’s Warehouse

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Prudential Financial Inc. bought a new stake in Sportsman’s Warehouse in the second quarter worth $56,000. Centiva Capital LP purchased a new position in shares of Sportsman’s Warehouse in the 3rd quarter worth $63,000. XTX Topco Ltd bought a new stake in shares of Sportsman’s Warehouse in the 2nd quarter worth about $189,000. BNP Paribas Financial Markets raised its position in shares of Sportsman’s Warehouse by 165.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 57,167 shares of the company’s stock valued at $197,000 after buying an additional 35,621 shares in the last quarter. Finally, Jane Street Group LLC lifted its holdings in shares of Sportsman’s Warehouse by 37.9% in the 2nd quarter. Jane Street Group LLC now owns 102,328 shares of the company’s stock valued at $353,000 after acquiring an additional 28,100 shares during the last quarter. 83.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SPWH. Lake Street Capital boosted their price objective on shares of Sportsman’s Warehouse from $3.00 to $3.50 and gave the stock a “buy” rating in a report on Friday, September 5th. Weiss Ratings restated a “sell (e+)” rating on shares of Sportsman’s Warehouse in a research note on Monday. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $3.45.

About Sportsman’s Warehouse

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.