State Street Corp Buys Shares of 1,001,698 Smith & Wesson Brands (NASDAQ:SWBI)

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State Street Corp bought a new stake in Smith & Wesson Brands (NASDAQ:SWBI) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 1,001,698 shares of the company’s stock, valued at approximately $8,314,000. State Street Corp owned approximately 1.82% of Smith & Wesson Brands at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. UBS Group AG raised its holdings in Smith & Wesson Brands by 122.8% in the 4th quarter. UBS Group AG now owns 102,291 shares of the company’s stock valued at $949,000 after acquiring an additional 56,388 shares in the last quarter. Bank of New York Mellon Corp grew its position in Smith & Wesson Brands by 0.5% during the 4th quarter. Bank of New York Mellon Corp now owns 259,505 shares of the company’s stock worth $2,408,000 after acquiring an additional 1,163 shares during the last quarter. UBS Asset Management Americas Inc. grew its position in Smith & Wesson Brands by 6.7% during the 4th quarter. UBS Asset Management Americas Inc. now owns 55,433 shares of the company’s stock worth $514,000 after acquiring an additional 3,466 shares during the last quarter. Cubist Systematic Strategies LLC grew its position in Smith & Wesson Brands by 2,512.5% during the 4th quarter. Cubist Systematic Strategies LLC now owns 5,225 shares of the company’s stock worth $48,000 after acquiring an additional 5,025 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Smith & Wesson Brands by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 749,759 shares of the company’s stock worth $6,957,000 after acquiring an additional 10,870 shares during the last quarter. Hedge funds and other institutional investors own 66.70% of the company’s stock.

A number of equities research analysts recently commented on the company. ValuEngine lowered Smith & Wesson Brands from a “hold” rating to a “sell” rating in a research report on Thursday, July 2nd. Wedbush increased their price target on Smith & Wesson Brands from $8.50 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, June 11th. Craig Hallum increased their price objective on Smith & Wesson Brands from $14.00 to $21.00 and gave the company a “buy” rating in a research report on Thursday, June 4th. Zacks Investment Research upgraded Smith & Wesson Brands from a “hold” rating to a “strong-buy” rating and set a $19.00 price objective on the stock in a research report on Tuesday, June 16th. Finally, Lake Street Capital raised their price target on Smith & Wesson Brands from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $19.20.

In related news, Director John B. Furman sold 20,000 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $10.75, for a total transaction of $215,000.00. Following the sale, the director now owns 52,790 shares of the company’s stock, valued at approximately $567,492.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Susan Jean Cupero sold 1,385 shares of the firm’s stock in a transaction on Wednesday, June 24th. The stock was sold at an average price of $18.28, for a total value of $25,317.80. Following the sale, the insider now directly owns 15,866 shares in the company, valued at approximately $290,030.48. The disclosure for this sale can be found here. Insiders have sold a total of 29,299 shares of company stock worth $358,959 in the last ninety days. 2.68% of the stock is currently owned by company insiders.

NASDAQ:SWBI opened at $23.89 on Friday. Smith & Wesson Brands has a 12-month low of $5.41 and a 12-month high of $25.17. The company has a quick ratio of 1.78, a current ratio of 3.05 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $1.33 billion, a P/E ratio of -21.33 and a beta of 0.80. The stock’s fifty day simple moving average is $22.33 and its 200-day simple moving average is $14.59.

Smith & Wesson Brands (NASDAQ:SWBI) last issued its quarterly earnings data on Thursday, June 18th. The company reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.17. The business had revenue of $233.64 million for the quarter, compared to the consensus estimate of $207.91 million. Smith & Wesson Brands had a positive return on equity of 10.61% and a negative net margin of 9.03%. The firm’s revenue was up 32.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.26 EPS. As a group, equities research analysts expect that Smith & Wesson Brands will post 1.85 earnings per share for the current year.

About Smith & Wesson Brands

Smith & Wesson Brands, Inc designs, manufactures, and sells firearms worldwide. The company offers firearms products, such as revolvers and pistols; modern sporting rifles, bolt action rifles, and muzzleloaders; handcuffs; suppressors; and other firearm-related products under the Smith & Wesson, M&P, Performance Center, Thompson/Center Arms, and Gemtech brands.

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Want to see what other hedge funds are holding SWBI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Smith & Wesson Brands (NASDAQ:SWBI).

Institutional Ownership by Quarter for Smith & Wesson Brands (NASDAQ:SWBI)

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