Boothbay Fund Management LLC Invests $192,000 in Smith & Wesson Brands, Inc. (NASDAQ:SWBI)

Posted by Defense World Staff on Mar 6th, 2023

Boothbay Fund Management LLC purchased a new position in shares of Smith & Wesson Brands, Inc. (NASDAQ:SWBI – Get Rating) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 18,509 shares of the company’s stock, valued at approximately $192,000.

A number of other hedge funds and other institutional investors have also modified their holdings of SWBI. SeaCrest Wealth Management LLC acquired a new stake in shares of Smith & Wesson Brands in the second quarter worth approximately $28,000. US Bancorp DE boosted its position in shares of Smith & Wesson Brands by 117.0% in the first quarter. US Bancorp DE now owns 2,448 shares of the company’s stock worth $37,000 after acquiring an additional 1,320 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in shares of Smith & Wesson Brands by 281.2% in the third quarter. Rockefeller Capital Management L.P. now owns 3,812 shares of the company’s stock worth $39,000 after acquiring an additional 2,812 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Smith & Wesson Brands in the third quarter worth approximately $110,000. Finally, EMC Capital Management boosted its position in shares of Smith & Wesson Brands by 50.4% in the second quarter. EMC Capital Management now owns 9,288 shares of the company’s stock worth $122,000 after acquiring an additional 3,113 shares during the last quarter. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Smith & Wesson Brands

In other news, Director Robert L. Scott sold 4,000 shares of the business’s stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $10.22, for a total transaction of $40,880.00. Following the transaction, the director now directly owns 79,073 shares of the company’s stock, valued at $808,126.06. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.63% of the company’s stock.

Smith & Wesson Brands Trading Up 3.3 %

Shares of SWBI stock opened at $11.11 on Monday. The stock has a market cap of $509.95 million, a price-to-earnings ratio of 6.46 and a beta of 1.15. The company has a quick ratio of 1.14, a current ratio of 3.24 and a debt-to-equity ratio of 0.10. Smith & Wesson Brands, Inc. has a fifty-two week low of $8.20 and a fifty-two week high of $16.97. The firm’s 50 day moving average price is $10.30 and its two-hundred day moving average price is $10.94.

Smith & Wesson Brands (NASDAQ:SWBI – Get Rating) last announced its quarterly earnings results on Tuesday, December 6th. The company reported $0.26 earnings per share for the quarter. The firm had revenue of $121.04 million for the quarter. Smith & Wesson Brands had a net margin of 14.11% and a return on equity of 24.79%.

Smith & Wesson Brands Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Tuesday, December 20th were given a dividend of $0.10 per share. The ex-dividend date was Monday, December 19th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 3.60%. Smith & Wesson Brands’s payout ratio is currently 23.26%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SWBI shares. Lake Street Capital decreased their target price on shares of Smith & Wesson Brands from $22.00 to $13.50 and set a “buy” rating on the stock in a research report on Wednesday, December 7th. Craig Hallum decreased their target price on shares of Smith & Wesson Brands from $17.00 to $12.00 in a research report on Wednesday, December 7th.

Smith & Wesson Brands Profile

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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. The company was founded by Horace Smith and Daniel Baird Wesson in 1852 and is headquartered in Springfield, MA.