Sportsman’s Warehouse (NASDAQ:SPWH) Announces Quarterly Earnings Results

Sportsman’s Warehouse (NASDAQ:SPWH) released its quarterly earnings data on Wednesday. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.30) by $0.10, Briefing.com reports. Sportsman’s Warehouse had a negative return on equity of 8.79% and a negative net margin of 2.25%. The firm had revenue of $370.39 million during the quarter, compared to analyst estimates of $373.61 million. During the same period in the prior year, the company posted $0.33 earnings per share. The business’s revenue for the quarter was down 2.3% compared to the same quarter last year. Sportsman’s Warehouse updated its FY 2024 guidance to EPS.

Sportsman’s Warehouse Stock Performance

Shares of NASDAQ:SPWH opened at $3.79 on Friday. The business has a fifty day moving average of $3.51 and a 200-day moving average of $4.18. Sportsman’s Warehouse has a twelve month low of $2.74 and a twelve month high of $8.85.

Institutional Trading of Sportsman’s Warehouse

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC increased its position in Sportsman’s Warehouse by 5.5% in the fourth quarter. Nuveen Asset Management LLC now owns 111,384 shares of the company’s stock worth $474,000 after purchasing an additional 5,768 shares during the period. Occudo Quantitative Strategies LP acquired a new stake in Sportsman’s Warehouse in the fourth quarter worth about $173,000. Gamco Investors INC. ET AL increased its position in Sportsman’s Warehouse by 4.8% in the fourth quarter. Gamco Investors INC. ET AL now owns 502,125 shares of the company’s stock worth $2,139,000 after purchasing an additional 22,880 shares during the period. Bridgeway Capital Management LLC increased its position in Sportsman’s Warehouse by 8.4% in the fourth quarter. Bridgeway Capital Management LLC now owns 333,794 shares of the company’s stock worth $1,422,000 after purchasing an additional 25,732 shares during the period. Finally, Royal Bank of Canada increased its position in Sportsman’s Warehouse by 10.3% in the fourth quarter. Royal Bank of Canada now owns 50,349 shares of the company’s stock worth $214,000 after purchasing an additional 4,700 shares during the period. 83.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Robert W. Baird dropped their price objective on Sportsman’s Warehouse from $5.00 to $4.00 and set a “neutral” rating for the company in a research note on Thursday. B. Riley lowered their target price on Sportsman’s Warehouse from $4.50 to $4.00 and set a “neutral” rating for the company in a research note on Thursday. Finally, StockNews.com upgraded Sportsman’s Warehouse to a “sell” rating in a research note on Thursday, January 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $7.25.

Sportsman’s Warehouse Company Profile

Sportsman's Warehouse Holdings, Inc, together with its subsidiaries, operates as an outdoor sporting goods retailer in the United States. It offers camping products, such as backpacks, camp essentials, canoes and kayaks, coolers, outdoor cooking equipment, sleeping bags, tents, and tools; and apparel products, including camouflage, jackets, hats, outerwear, sportswear, technical gear, and work wear.