Academy Sports and Outdoors, Inc. (NASDAQ:ASO) Sees Large Drop in Short Interest

Academy Sports and Outdoors, Inc. (NASDAQ:ASO) was the target of a large decrease in short interest in the month of April. As of April 15th, there was short interest totalling 4,350,000 shares, a decrease of 7.2% from the March 31st total of 4,690,000 shares. Approximately 6.0% of the shares of the company are short sold. Based on an average daily trading volume, of 1,390,000 shares, the short-interest ratio is presently 3.1 days.

Analysts Set New Price Targets

Several brokerages have weighed in on ASO. B. Riley reaffirmed a “buy” rating and set a $72.00 price objective (up from $65.00) on shares of Academy Sports and Outdoors in a research note on Monday, March 25th. TD Cowen decreased their price target on Academy Sports and Outdoors from $86.00 to $82.00 and set an “outperform” rating on the stock in a research report on Friday, March 22nd. JPMorgan Chase & Co. boosted their price objective on Academy Sports and Outdoors from $55.00 to $87.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. Telsey Advisory Group decreased their target price on Academy Sports and Outdoors from $83.00 to $75.00 and set an “outperform” rating on the stock in a report on Thursday, March 21st. Finally, Morgan Stanley cut their price target on Academy Sports and Outdoors from $70.00 to $65.00 and set an “equal weight” rating for the company in a report on Friday, March 22nd. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $73.82.

Insider Buying and Selling

In related news, Director Jeffrey C. Tweedy sold 1,200 shares of the business’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $60.00, for a total value of $72,000.00. Following the sale, the director now owns 7,870 shares of the company’s stock, valued at approximately $472,200. The sale was disclosed in a legal filing with the SEC, which is available through this link. 2.19% of the stock is owned by insiders.

Hedge Funds Weigh In On Academy Sports and Outdoors

Hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp acquired a new stake in Academy Sports and Outdoors in the fourth quarter worth $26,000. Future Financial Wealth Managment LLC bought a new stake in shares of Academy Sports and Outdoors in the 1st quarter valued at $68,000. EverSource Wealth Advisors LLC raised its stake in Academy Sports and Outdoors by 517.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,050 shares of the company’s stock worth $69,000 after buying an additional 880 shares during the period. Kapitalo Investimentos Ltda bought a new position in Academy Sports and Outdoors during the fourth quarter worth about $73,000. Finally, GAMMA Investing LLC acquired a new position in Academy Sports and Outdoors in the fourth quarter valued at about $83,000.

Academy Sports and Outdoors Trading Down 4.3 %

ASO traded down $2.61 during trading on Tuesday, reaching $58.15. 523,245 shares of the company’s stock were exchanged, compared to its average volume of 1,337,397. The company’s fifty day moving average price is $66.03 and its 200-day moving average price is $60.22. The firm has a market capitalization of $4.29 billion, a PE ratio of 9.04, a P/E/G ratio of 0.89 and a beta of 1.35. Academy Sports and Outdoors has a fifty-two week low of $42.83 and a fifty-two week high of $75.73. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.51 and a current ratio of 1.87.

Academy Sports and Outdoors Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, March 26th were paid a dividend of $0.11 per share. The ex-dividend date was Monday, March 25th. This is a boost from Academy Sports and Outdoors’s previous quarterly dividend of $0.09. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.76%. Academy Sports and Outdoors’s payout ratio is 6.55%.

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.