Short Interest in Escalade, Incorporated (NASDAQ:ESCA) Grows By 21.9%

Escalade, Incorporated (NASDAQ:ESCA) was the target of a significant increase in short interest in December. As of December 31st, there was short interest totaling 124,984 shares, an increase of 21.9% from the December 15th total of 102,568 shares. Currently, 1.3% of the shares of the stock are sold short. Based on an average daily volume of 21,042 shares, the short-interest ratio is presently 5.9 days. Based on an average daily volume of 21,042 shares, the short-interest ratio is presently 5.9 days. Currently, 1.3% of the shares of the stock are sold short.

Analysts Set New Price Targets

Several research firms have recently weighed in on ESCA. Wall Street Zen upgraded Escalade from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Zacks Research raised Escalade from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 29th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Escalade in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Escalade presently has a consensus rating of “Buy”.

Insider Activity

In related news, CFO Stephen Wawrin sold 2,000 shares of the firm’s stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $13.00, for a total value of $26,000.00. Following the transaction, the chief financial officer directly owned 41,000 shares of the company’s stock, valued at approximately $533,000. This trade represents a 4.65% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Richard Fenton Baalmann, Jr. sold 5,490 shares of Escalade stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $13.00, for a total value of $71,370.00. Following the completion of the sale, the director owned 100,394 shares in the company, valued at approximately $1,305,122. The trade was a 5.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 12,000 shares of company stock worth $156,100. Company insiders own 28.75% of the company’s stock.

Institutional Investors Weigh In On Escalade

Several hedge funds and other institutional investors have recently bought and sold shares of ESCA. Geode Capital Management LLC lifted its stake in shares of Escalade by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 221,456 shares of the company’s stock valued at $3,096,000 after purchasing an additional 4,455 shares during the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new stake in Escalade in the 2nd quarter valued at about $32,000. Raymond James Financial Inc. acquired a new position in Escalade in the second quarter valued at about $29,000. Tower Research Capital LLC TRC lifted its position in Escalade by 439.0% in the second quarter. Tower Research Capital LLC TRC now owns 3,622 shares of the company’s stock valued at $51,000 after buying an additional 2,950 shares during the last quarter. Finally, Certior Financial Group LLC purchased a new position in Escalade during the third quarter worth about $141,000. 65.22% of the stock is currently owned by institutional investors and hedge funds.

Escalade Price Performance

Shares of Escalade stock traded up $0.08 on Monday, hitting $14.06. 15,115 shares of the company were exchanged, compared to its average volume of 21,300. The company has a quick ratio of 1.41, a current ratio of 3.30 and a debt-to-equity ratio of 0.08. The company has a 50-day moving average price of $13.15 and a 200 day moving average price of $12.75. The stock has a market capitalization of $194.03 million, a price-to-earnings ratio of 15.45 and a beta of 0.69. Escalade has a 1-year low of $11.41 and a 1-year high of $16.99.

Escalade (NASDAQ:ESCA) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.40 EPS for the quarter, beating the consensus estimate of $0.31 by $0.09. The firm had revenue of $67.79 million during the quarter, compared to analysts’ expectations of $58.83 million. Escalade had a return on equity of 7.49% and a net margin of 5.26%. As a group, sell-side analysts predict that Escalade will post 0.93 earnings per share for the current fiscal year.

Escalade Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, January 12th. Stockholders of record on Monday, January 5th were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, January 5th. This represents a $0.60 annualized dividend and a dividend yield of 4.3%. Escalade’s payout ratio is presently 65.93%.

About Escalade

Escalade, Inc is a U.S.-based manufacturer and distributor of recreational equipment and specialty products for both consumer and commercial markets. Headquartered in Evansville, Indiana, the company operates through two principal business segments: Sporting Goods and Commercial Products. The Sporting Goods segment encompasses a diverse range of products such as hockey and lacrosse goal assemblies, fitness accessories, archery and hunting gear, and table tennis equipment. The Commercial Products segment focuses on seating solutions for restaurants, hospitality venues and other public spaces under the Top Seat brand, as well as storage, display products and industrial carts.

Within Sporting Goods, Escalade markets its products under proprietary brands including Bear® Archery, Gene St.