Sturm Ruger & Company Inc (NYSE:RGR) Sees Large Growth in Short Interest

Sturm Ruger & Company Inc (NYSE:RGR) was the target of a large growth in short interest in June. As of June 30th, there was short interest totalling 1,500,000 shares, a growth of 45.6% from the June 15th total of 1,030,000 shares. Currently, 8.9% of the company’s stock are sold short. Based on an average daily volume of 350,200 shares, the short-interest ratio is currently 4.3 days.

RGR has been the topic of several recent analyst reports. TheStreet upgraded Sturm Ruger & Company Inc from a “c” rating to a “b-” rating in a report on Thursday, April 23rd. Lake Street Capital boosted their target price on Sturm Ruger & Company Inc from $68.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, June 2nd.

In other news, VP Kevin B. Sr Reid, Sr. sold 2,000 shares of Sturm Ruger & Company Inc stock in a transaction dated Monday, April 27th. The stock was sold at an average price of $55.25, for a total transaction of $110,500.00. Following the transaction, the vice president now owns 41,320 shares in the company, valued at approximately $2,282,930. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael O. Fifer sold 782 shares of Sturm Ruger & Company Inc stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $55.00, for a total value of $43,010.00. Following the transaction, the director now owns 47,045 shares in the company, valued at approximately $2,587,475. The disclosure for this sale can be found here. Insiders have sold a total of 61,169 shares of company stock worth $3,560,991 in the last quarter. 4.50% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. lifted its stake in Sturm Ruger & Company Inc by 39.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 883 shares of the company’s stock valued at $43,000 after acquiring an additional 252 shares in the last quarter. Quadrant Capital Group LLC raised its stake in shares of Sturm Ruger & Company Inc by 112.9% during the 4th quarter. Quadrant Capital Group LLC now owns 939 shares of the company’s stock worth $43,000 after purchasing an additional 498 shares in the last quarter. CWM LLC raised its stake in shares of Sturm Ruger & Company Inc by 308.3% during the 1st quarter. CWM LLC now owns 837 shares of the company’s stock worth $43,000 after purchasing an additional 632 shares in the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Sturm Ruger & Company Inc during the 1st quarter worth approximately $53,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Sturm Ruger & Company Inc by 49.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,472 shares of the company’s stock worth $75,000 after purchasing an additional 485 shares in the last quarter. Hedge funds and other institutional investors own 68.39% of the company’s stock.

NYSE RGR traded up $2.53 during trading on Friday, hitting $78.62. The stock had a trading volume of 372,050 shares, compared to its average volume of 331,008. The company has a market capitalization of $1.37 billion, a PE ratio of 40.32 and a beta of 0.37. The company’s 50-day moving average price is $67.00 and its two-hundred day moving average price is $54.33. The company has a debt-to-equity ratio of 0.01, a quick ratio of 3.94 and a current ratio of 4.23. Sturm Ruger & Company Inc has a 12 month low of $38.44 and a 12 month high of $79.26.

Sturm Ruger & Company Inc (NYSE:RGR) last released its earnings results on Wednesday, May 6th. The company reported $0.87 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.15. The firm had revenue of $123.60 million for the quarter, compared to analysts’ expectations of $116.05 million. Sturm Ruger & Company Inc had a return on equity of 12.17% and a net margin of 8.24%. The company’s revenue was up 8.4% compared to the same quarter last year.

Sturm Ruger & Company Inc Company Profile

Sturm, Ruger & Company, Inc designs, manufactures, and sells firearms under the Ruger name and trademark in the United States. It operates in two segments, Firearms and Castings. It offers single-shot, autoloading, bolt-action, and sporting rifles; rimfire and centerfire autoloading pistols; single-action and double-action revolvers; and firearms accessories and replacement parts.

Further Reading: What is Cost of Goods Sold (COGS)?

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