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

Denali Advisors LLC trimmed its position in Smith & Wesson Brands, Inc. (NASDAQ:SWBI) by 12.5% during the 2nd quarter, HoldingsChannel reports. The firm owned 143,520 shares of the company’s stock after selling 20,596 shares during the period. Denali Advisors LLC’s holdings in Smith & Wesson Brands were worth $2,058,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Fund 1 Investments LLC purchased a new position in shares of Smith & Wesson Brands during the 4th quarter valued at about $4,790,000. Quadrature Capital Ltd purchased a new position in Smith & Wesson Brands in the 1st quarter worth approximately $563,000. Charles Schwab Investment Management Inc. lifted its holdings in Smith & Wesson Brands by 2.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 990,925 shares of the company’s stock worth $13,437,000 after purchasing an additional 19,018 shares in the last quarter. Jump Financial LLC purchased a new position in Smith & Wesson Brands in the 4th quarter worth approximately $176,000. Finally, UBS Group AG lifted its holdings in Smith & Wesson Brands by 10.2% in the 4th quarter. UBS Group AG now owns 2,067,462 shares of the company’s stock worth $28,035,000 after purchasing an additional 191,813 shares in the last quarter. 59.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Smith & Wesson Brands Stock Up 1.1 %

NASDAQ SWBI opened at $13.24 on Tuesday. The stock’s 50 day moving average is $14.74 and its 200 day moving average is $15.75. The company has a current ratio of 3.54, a quick ratio of 1.19 and a debt-to-equity ratio of 0.28. Smith & Wesson Brands, Inc. has a 12 month low of $11.32 and a 12 month high of $18.05. The stock has a market cap of $593.81 million, a PE ratio of 15.40 and a beta of 1.01.

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

Smith & Wesson Brands Announces Dividend

The company 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 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend is Thursday, September 19th. Smith & Wesson Brands’s payout ratio is 60.47%.

Insiders Place Their Bets

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

About Smith & Wesson Brands

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.