Short Interest in Adidas AG (OTCMKTS:ADDYY) Declines By 75.5%

Adidas AG (OTCMKTS:ADDYY) saw a large drop in short interest in May. As of May 29th, there was short interest totaling 17,747 shares, a drop of 75.5% from the May 14th total of 72,481 shares. Based on an average daily trading volume, of 110,983 shares, the short-interest ratio is currently 0.2 days. Approximately 0.0% of the company’s stock are sold short.

Hedge Funds Weigh In On Adidas

An institutional investor recently raised its position in Adidas stock. Madison Asset Management LLC boosted its stake in shares of Adidas AG (OTCMKTS:ADDYY) by 7.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 24,125 shares of the company’s stock after purchasing an additional 1,582 shares during the period. Madison Asset Management LLC’s holdings in Adidas were worth $1,935,000 at the end of the most recent quarter.

Adidas Stock Performance

Shares of ADDYY opened at $101.77 on Friday. The business’s fifty day simple moving average is $86.84 and its two-hundred day simple moving average is $89.13. The company has a current ratio of 1.32, a quick ratio of 0.68 and a debt-to-equity ratio of 0.33. Adidas has a 12 month low of $75.19 and a 12 month high of $125.69. The company has a market cap of $36.37 billion, a price-to-earnings ratio of 22.42, a P/E/G ratio of 1.35 and a beta of 1.26.

Adidas (OTCMKTS:ADDYY) last released its quarterly earnings results on Wednesday, April 29th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.53 by $0.05. The firm had revenue of $7.71 billion for the quarter, compared to the consensus estimate of $7.36 billion. Adidas had a return on equity of 23.53% and a net margin of 5.52%. Research analysts anticipate that Adidas will post 5.49 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Royal Bank Of Canada raised Adidas from a “sector perform” rating to an “outperform” rating in a research report on Wednesday. Zacks Research raised Adidas from a “strong sell” rating to a “hold” rating in a research report on Monday, May 4th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $146.02.

Adidas Company Profile

Adidas AG is a global designer, manufacturer and marketer of athletic footwear, apparel and accessories, headquartered in Herzogenaurach, Germany. Founded by Adolf “Adi” Dassler in 1949, the company has grown into one of the world’s leading sportswear brands, offering products for running, soccer, basketball and a wide range of other sports as well as lifestyle and fashion markets.

Adidas’s product portfolio includes performance footwear, sports apparel, team uniforms, equipment and accessories sold under the Adidas brand and through various collaborations.