PDT Partners LLC Makes New $1.98 Million Investment in Smith & Wesson Brands, Inc. $SWBI

Key Points

• PDT Partners LLC acquired 131,689 shares of Smith & Wesson Brands during the second quarter, worth approximately $1.98 million and representing a 0.29% stake.
• Institutional ownership remains significant, with hedge funds and other institutions holding 59.33% of SWBI after several investors initiated positions.
• Analysts maintain a generally cautious outlook: SWBI has an average “Hold” rating and a $16.50 price target, despite the company beating quarterly earnings and revenue expectations.

PDT Partners LLC acquired a new stake in Smith & Wesson Brands, Inc. (NASDAQ:SWBI - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 131,689 shares of the company's stock, valued at approximately $1,981,000. PDT Partners LLC owned 0.29% of Smith & Wesson Brands at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Legal & General Group Plc purchased a new position in Smith & Wesson Brands during the 2nd quarter valued at about $65,000. The Manufacturers Life Insurance Company purchased a new position in shares of Smith & Wesson Brands during the second quarter valued at approximately $174,000. Algert Global LLC bought a new position in shares of Smith & Wesson Brands during the second quarter valued at approximately $330,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Smith & Wesson Brands during the second quarter valued at approximately $2,266,000. Finally, Quantbot Technologies LP purchased a new stake in Smith & Wesson Brands in the second quarter worth $65,000. 59.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Lake Street Capital boosted their price objective on shares of Smith & Wesson Brands from $14.00 to $16.50 and gave the company a "buy" rating in a research report on Thursday, June 18th. Weiss Ratings lowered shares of Smith & Wesson Brands from a "hold (c+)" rating to a "hold (c)" rating in a research note on Wednesday, July 29th. Finally, Zacks Research upgraded shares of Smith & Wesson Brands to a "hold" rating in a research report on Tuesday, June 23rd. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Smith & Wesson Brands currently has an average rating of "Hold" and an average price target of $16.50.

Smith & Wesson Brands Price Performance

SWBI stock opened at $13.37 on Thursday. The firm has a 50 day moving average price of $14.88 and a 200-day moving average price of $14.38. Smith & Wesson Brands, Inc. has a 52-week low of $8.01 and a 52-week high of $17.56. The firm has a market capitalization of $599.51 million, a price-to-earnings ratio of 33.43 and a beta of 0.88. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.13 and a current ratio of 3.20.

Smith & Wesson Brands (NASDAQ:SWBI - Get Free Report) last posted its quarterly earnings results on Wednesday, June 17th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.13. The company had revenue of $178.39 million for the quarter, compared to the consensus estimate of $155.27 million. Smith & Wesson Brands had a return on equity of 5.01% and a net margin of 3.53%.The firm's quarterly revenue was up 26.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.20 EPS. Equities research analysts forecast that Smith & Wesson Brands, Inc. will post 0.55 EPS for the current fiscal year.

Smith & Wesson Brands Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Wednesday, July 1st were issued a dividend of $0.13 per share. The ex-dividend date was Wednesday, July 1st. This represents a $0.52 annualized dividend and a dividend yield of 3.9%. Smith & Wesson Brands's dividend payout ratio (DPR) is presently 130.00%.

Smith & Wesson Brands Profile

Smith & Wesson Brands, Inc is a leading American manufacturer of firearms and related products, designing, producing and marketing a broad array of handguns, long guns and shooting accessories. The company’s portfolio includes revolvers, semi-automatic pistols and rifles under well-known brands such as M&P® (Military & Police) and Performance Center®, which are used by military, law enforcement, commercial and private customers. In addition to complete firearms, Smith & Wesson offers suppressors, optics mounts, holsters and other shooting accessories to support a full spectrum of professional and recreational shooting activities.

Founded in 1852 by Horace Smith and Daniel B.

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