BlackRock Inc. Cuts Holdings in American Outdoor Brands Corp (NASDAQ:AOBC)

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BlackRock Inc. decreased its position in American Outdoor Brands Corp (NASDAQ:AOBC) by 21.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,443,979 shares of the company’s stock after selling 1,185,438 shares during the period. BlackRock Inc. owned about 8.11% of American Outdoor Brands worth $40,041,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in AOBC. Private Advisors LLC purchased a new position in American Outdoor Brands in the first quarter valued at $370,000. Commerzbank Aktiengesellschaft FI purchased a new position in American Outdoor Brands in the second quarter valued at $114,000. Ibex Investors LLC increased its holdings in American Outdoor Brands by 2.6% in the second quarter. Ibex Investors LLC now owns 81,517 shares of the company’s stock valued at $734,000 after buying an additional 2,052 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. purchased a new position in American Outdoor Brands in the second quarter valued at $166,000. Finally, Advisor Group Inc. increased its holdings in American Outdoor Brands by 4.3% in the second quarter. Advisor Group Inc. now owns 36,850 shares of the company’s stock valued at $332,000 after buying an additional 1,527 shares in the last quarter. 70.12% of the stock is owned by institutional investors.

In related news, Director John B. Furman sold 10,000 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $6.95, for a total transaction of $69,500.00. Following the completion of the sale, the director now owns 38,335 shares of the company’s stock, valued at approximately $266,428.25. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.68% of the stock is currently owned by corporate insiders.

A number of research firms have recently commented on AOBC. BidaskClub raised shares of American Outdoor Brands from a “sell” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research cut shares of American Outdoor Brands from a “hold” rating to a “sell” rating in a research note on Wednesday, September 4th. Craig Hallum raised shares of American Outdoor Brands from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research note on Wednesday. They noted that the move was a valuation call. Lake Street Capital reissued a “buy” rating and set a $14.00 target price (down previously from $17.00) on shares of American Outdoor Brands in a research note on Friday, August 30th. Finally, Cowen set a $10.00 target price on shares of American Outdoor Brands and gave the stock a “hold” rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $10.30.

AOBC stock opened at $6.89 on Friday. American Outdoor Brands Corp has a 52 week low of $5.41 and a 52 week high of $15.32. The stock has a market capitalization of $329.48 million, a P/E ratio of 8.30 and a beta of 0.24. The company has a quick ratio of 0.68, a current ratio of 1.87 and a debt-to-equity ratio of 0.32. The firm has a 50-day simple moving average of $6.34 and a 200-day simple moving average of $8.42.

American Outdoor Brands (NASDAQ:AOBC) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.05). American Outdoor Brands had a net margin of 1.39% and a return on equity of 8.19%. The business had revenue of $123.67 million for the quarter, compared to analysts’ expectations of $126.58 million. During the same period in the prior year, the company posted $0.21 EPS. The firm’s revenue was down 10.9% on a year-over-year basis. On average, analysts expect that American Outdoor Brands Corp will post 0.74 earnings per share for the current year.

American Outdoor Brands Profile

American Outdoor Brands Corporation designs, manufactures, and sells firearms worldwide. The company's Firearms segment offers handguns, long guns, handcuffs, suppressors, and other firearm-related products under the Smith & Wesson, M&P, Performance Center, Gemtech, and Thompson/Center Arms brands.

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Institutional Ownership by Quarter for American Outdoor Brands (NASDAQ:AOBC)

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