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

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

Analyst Ratings Changes

Several equities research analysts have commented on ASO shares. Morgan Stanley cut their target price on Academy Sports and Outdoors from $70.00 to $65.00 and set an “equal weight” rating on the stock in a research note on Friday, March 22nd. Wedbush reiterated an “outperform” rating and set a $80.00 price objective on shares of Academy Sports and Outdoors in a research note on Monday, April 1st. Telsey Advisory Group dropped their price objective on Academy Sports and Outdoors from $83.00 to $75.00 and set an “outperform” rating on the stock in a research note on Thursday, March 21st. Truist Financial reiterated a “buy” rating and set a $77.00 price objective on shares of Academy Sports and Outdoors in a research note on Tuesday, March 19th. Finally, TD Cowen dropped their price objective on Academy Sports and Outdoors from $86.00 to $82.00 and set an “outperform” rating on the stock in a research note on Friday, March 22nd. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $73.82.

Academy Sports and Outdoors Stock Performance

ASO opened at $60.72 on Monday. The firm has a market cap of $4.48 billion, a P/E ratio of 9.04, a price-to-earnings-growth ratio of 0.89 and a beta of 1.35. Academy Sports and Outdoors has a 52-week low of $42.83 and a 52-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. The business’s fifty day moving average is $66.19 and its 200-day moving average is $60.10.

Academy Sports and Outdoors Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, March 26th were given a dividend of $0.11 per share. This is an increase from Academy Sports and Outdoors’s previous quarterly dividend of $0.09. This represents a $0.44 annualized dividend and a dividend yield of 0.72%. The ex-dividend date of this dividend was Monday, March 25th. Academy Sports and Outdoors’s dividend payout ratio is currently 6.55%.

Insider Transactions at Academy Sports and Outdoors

In other news, Director Jeffrey C. Tweedy sold 1,200 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $60.00, for a total transaction of $72,000.00. Following the completion of the transaction, the director now directly owns 7,870 shares in the company, valued at approximately $472,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.56% of the company’s stock.

Institutional Trading of Academy Sports and Outdoors

Several institutional investors and hedge funds have recently modified their holdings of the business. Peregrine Capital Management LLC raised its position in Academy Sports and Outdoors by 1.6% in the first quarter. Peregrine Capital Management LLC now owns 161,523 shares of the company’s stock valued at $10,909,000 after purchasing an additional 2,543 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Academy Sports and Outdoors during the first quarter worth about $3,736,000. Hunter Perkins Capital Management LLC raised its position in shares of Academy Sports and Outdoors by 21.7% during the first quarter. Hunter Perkins Capital Management LLC now owns 13,600 shares of the company’s stock worth $919,000 after acquiring an additional 2,425 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its position in shares of Academy Sports and Outdoors by 139.8% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 34,408 shares of the company’s stock worth $2,324,000 after acquiring an additional 20,061 shares during the last quarter. Finally, Altfest L J & Co. Inc. bought a new position in shares of Academy Sports and Outdoors during the first quarter worth about $282,000.

Academy Sports and Outdoors Company Profile

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.