Academy Sports and Outdoors, Inc. (NASDAQ:ASO) Short Interest Update

Academy Sports and Outdoors, Inc. (NASDAQ:ASO) was the recipient of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 4,910,000 shares, a decline of 23.2% from the October 15th total of 6,390,000 shares. Based on an average daily volume of 1,330,000 shares, the short-interest ratio is currently 3.7 days. Approximately 7.1% of the company’s shares are short sold.

Academy Sports and Outdoors Stock Performance

NASDAQ ASO traded down $1.49 during trading on Friday, reaching $47.80. 1,074,007 shares of the company’s stock were exchanged, compared to its average volume of 1,423,311. The business has a 50 day moving average price of $55.05 and a 200-day moving average price of $54.42. The stock has a market capitalization of $3.36 billion, a P/E ratio of 7.59, a PEG ratio of 0.95 and a beta of 1.37. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.66 and a quick ratio of 0.41. Academy Sports and Outdoors has a fifty-two week low of $45.47 and a fifty-two week high of $75.73.

Academy Sports and Outdoors (NASDAQ:ASO) last announced its quarterly earnings results on Tuesday, September 10th. The company reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.96 by $0.07. Academy Sports and Outdoors had a return on equity of 25.56% and a net margin of 7.98%. The business had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter last year, the firm posted $2.01 EPS. The company’s quarterly revenue was down 2.2% on a year-over-year basis. Sell-side analysts forecast that Academy Sports and Outdoors will post 6.02 earnings per share for the current fiscal year.

Academy Sports and Outdoors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Thursday, September 19th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Thursday, September 19th. Academy Sports and Outdoors’s dividend payout ratio is presently 6.79%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Loop Capital restated a “buy” rating and set a $77.00 price objective on shares of Academy Sports and Outdoors in a report on Wednesday, September 11th. TD Cowen raised their price objective on Academy Sports and Outdoors from $54.00 to $56.00 and gave the stock a “hold” rating in a research note on Wednesday, September 11th. Wedbush reissued an “outperform” rating and issued a $65.00 target price on shares of Academy Sports and Outdoors in a research note on Wednesday, September 11th. Telsey Advisory Group reissued an “outperform” rating and set a $65.00 price objective on shares of Academy Sports and Outdoors in a research report on Thursday, September 5th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $60.00 target price on shares of Academy Sports and Outdoors in a research note on Wednesday, September 11th. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.50.

Insider Buying and Selling

In related news, Director Jeffrey C. Tweedy sold 1,200 shares of Academy Sports and Outdoors stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $62.00, for a total transaction of $74,400.00. Following the completion of the sale, the director now directly owns 8,906 shares of the company’s stock, valued at $552,172. The trade was a 11.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.19% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Academy Sports and Outdoors

A number of large investors have recently made changes to their positions in ASO. Harbor Capital Advisors Inc. bought a new position in shares of Academy Sports and Outdoors during the third quarter worth approximately $28,000. Headlands Technologies LLC bought a new position in Academy Sports and Outdoors during the 1st quarter worth $35,000. V Square Quantitative Management LLC acquired a new position in Academy Sports and Outdoors in the 3rd quarter valued at $40,000. Farther Finance Advisors LLC lifted its position in shares of Academy Sports and Outdoors by 98.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 738 shares of the company’s stock valued at $43,000 after acquiring an additional 366 shares during the period. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Academy Sports and Outdoors during the 3rd quarter worth $58,000.

About Academy Sports and Outdoors

Academy Sports and Outdoors, Inc, through its subsidiaries, operates as a sporting goods and outdoor recreational retailer in the United States. The company outdoor division comprises camping products, such as coolers and drinkware, and camping accessories and equipment,; fishing products, including marine equipment and fishing rods, reels, and baits and equipment; and hunting products, which includes firearms, ammunition, archery and archery equipment, camouflage apparel, waders, shooting accessories, gun safes, optics, airguns, and hunting equipment.