Jane Street Group LLC Trims Stake in Smith & Wesson Brands, Inc. (NASDAQ:SWBI)

Jane Street Group LLC lessened its position in shares of Smith & Wesson Brands, Inc. (NASDAQ:SWBI) by 80.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 85,456 shares of the company’s stock after selling 343,701 shares during the quarter. Jane Street Group LLC owned about 0.19% of Smith & Wesson Brands worth $1,109,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Quarry LP increased its stake in Smith & Wesson Brands by 2,773.0% in the second quarter. Quarry LP now owns 2,126 shares of the company’s stock valued at $30,000 after purchasing an additional 2,052 shares during the period. International Assets Investment Management LLC raised its stake in Smith & Wesson Brands by 1,198.2% during the 3rd quarter. International Assets Investment Management LLC now owns 2,908 shares of the company’s stock valued at $38,000 after acquiring an additional 2,684 shares during the last quarter. NBC Securities Inc. grew its stake in shares of Smith & Wesson Brands by 823.8% in the 3rd quarter. NBC Securities Inc. now owns 4,000 shares of the company’s stock valued at $51,000 after purchasing an additional 3,567 shares during the last quarter. Copeland Capital Management LLC acquired a new position in shares of Smith & Wesson Brands in the third quarter valued at approximately $52,000. Finally, Point72 DIFC Ltd purchased a new stake in shares of Smith & Wesson Brands during the second quarter worth approximately $59,000. Institutional investors and hedge funds own 59.33% of the company’s stock.

Smith & Wesson Brands Trading Down 0.9 %

NASDAQ:SWBI opened at $9.94 on Monday. Smith & Wesson Brands, Inc. has a 1 year low of $9.78 and a 1 year high of $18.05. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.43 and a current ratio of 3.97. The stock has a fifty day moving average price of $12.45 and a two-hundred day moving average price of $13.68. The stock has a market capitalization of $437.39 million, a price-to-earnings ratio of 12.74 and a beta of 0.96.

Smith & Wesson Brands (NASDAQ:SWBI) last announced its quarterly earnings results on Thursday, December 5th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.06). Smith & Wesson Brands had a net margin of 7.00% and a return on equity of 8.78%. The company had revenue of $129.70 million during the quarter, compared to analysts’ expectations of $133.53 million. During the same quarter in the prior year, the business earned $0.14 EPS. The business’s revenue for the quarter was up 3.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Smith & Wesson Brands, Inc. will post 0.47 earnings per share for the current fiscal year.

Smith & Wesson Brands Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Thursday, December 19th will be given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 5.23%. The ex-dividend date of this dividend is Thursday, December 19th. Smith & Wesson Brands’s dividend payout ratio is currently 66.67%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Lake Street Capital downgraded shares of Smith & Wesson Brands from a “buy” rating to a “hold” rating and cut their price objective for the stock from $18.00 to $13.00 in a research report on Friday, December 6th. Craig Hallum cut shares of Smith & Wesson Brands from a “buy” rating to a “hold” rating and cut their price target for the stock from $18.00 to $13.00 in a report on Friday, December 6th.

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.