Bank of America Corp DE Lowers Position in Smith & Wesson Brands, Inc. (NASDAQ:SWBI)

Bank of America Corp DE lessened its stake in Smith & Wesson Brands, Inc. (NASDAQ:SWBI - Free Report) by 90.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,666 shares of the company's stock after selling 231,444 shares during the period. Bank of America Corp DE owned about 0.06% of Smith & Wesson Brands worth $249,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Peapack Gladstone Financial Corp lifted its position in Smith & Wesson Brands by 8.9% in the fourth quarter. Peapack Gladstone Financial Corp now owns 12,515 shares of the company's stock valued at $126,000 after purchasing an additional 1,018 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in shares of Smith & Wesson Brands by 5.0% during the fourth quarter. MetLife Investment Management LLC now owns 27,408 shares of the company's stock worth $277,000 after purchasing an additional 1,315 shares during the period. LPL Financial LLC boosted its holdings in shares of Smith & Wesson Brands by 3.1% during the fourth quarter. LPL Financial LLC now owns 49,661 shares of the company's stock worth $502,000 after purchasing an additional 1,482 shares during the period. Headlands Technologies LLC boosted its holdings in shares of Smith & Wesson Brands by 45.5% during the fourth quarter. Headlands Technologies LLC now owns 5,971 shares of the company's stock worth $60,000 after purchasing an additional 1,867 shares during the period. Finally, Larson Financial Group LLC boosted its holdings in shares of Smith & Wesson Brands by 19.5% during the fourth quarter. Larson Financial Group LLC now owns 12,161 shares of the company's stock worth $123,000 after purchasing an additional 1,983 shares during the period. 59.33% of the stock is currently owned by hedge funds and other institutional investors.

Smith & Wesson Brands Trading Up 3.7%

Shares of Smith & Wesson Brands stock traded up $0.39 during trading on Wednesday, reaching $10.88. 1,805,224 shares of the stock were exchanged, compared to its average volume of 507,686. The company has a quick ratio of 1.56, a current ratio of 4.67 and a debt-to-equity ratio of 0.39. The stock's fifty day moving average is $9.64 and its 200 day moving average is $10.11. The firm has a market cap of $478.72 million, a price-to-earnings ratio of 16.74 and a beta of 1.01. Smith & Wesson Brands, Inc. has a 1 year low of $8.38 and a 1 year high of $16.85.

Smith & Wesson Brands (NASDAQ:SWBI - Get Free Report) last posted its earnings results on Wednesday, June 18th. The company reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $0.23 by ($0.03). Smith & Wesson Brands had a return on equity of 6.80% and a net margin of 6.04%. During the same quarter in the previous year, the business earned $0.45 EPS. The firm's quarterly revenue was down 11.6% on a year-over-year basis. As a group, equities research analysts expect that Smith & Wesson Brands, Inc. will post 0.47 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Lake Street Capital dropped their target price on shares of Smith & Wesson Brands from $13.00 to $12.50 and set a "buy" rating for the company in a report on Friday, March 7th.

About Smith & Wesson Brands

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.