Short Interest in Academy Sports and Outdoors, Inc. (NASDAQ:ASO) Declines By 22.5%

Academy Sports and Outdoors, Inc. (NASDAQ:ASO) was the recipient of a significant decline in short interest in the month of August. As of August 31st, there was short interest totalling 9,670,000 shares, a decline of 22.5% from the August 15th total of 12,470,000 shares. Based on an average trading volume of 2,210,000 shares, the short-interest ratio is presently 4.4 days. Currently, 15.1% of the shares of the company are sold short.

In related news, CFO Michael P. Mullican sold 50,000 shares of the business’s stock in a transaction dated Friday, June 25th. The stock was sold at an average price of $42.52, for a total transaction of $2,126,000.00. Following the transaction, the chief financial officer now directly owns 102,001 shares in the company, valued at $4,337,082.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP William S. Ennis sold 51,929 shares of the company’s stock in a transaction that occurred on Friday, June 25th. The shares were sold at an average price of $42.35, for a total value of $2,199,193.15. Following the completion of the sale, the senior vice president now owns 31,746 shares in the company, valued at $1,344,443.10. The disclosure for this sale can be found here. Insiders have sold 10,209,158 shares of company stock worth $391,488,161 over the last 90 days. Corporate insiders own 1.83% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in ASO. Benjamin F. Edwards & Company Inc. increased its position in shares of Academy Sports and Outdoors by 57.1% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 1,100 shares of the company’s stock valued at $30,000 after buying an additional 400 shares in the last quarter. The PNC Financial Services Group Inc. bought a new stake in shares of Academy Sports and Outdoors in the 1st quarter valued at $38,000. Paragon Wealth Strategies LLC bought a new stake in shares of Academy Sports and Outdoors in the 2nd quarter valued at $41,000. Steward Partners Investment Advisory LLC bought a new position in Academy Sports and Outdoors during the 2nd quarter worth about $49,000. Finally, Banque Cantonale Vaudoise bought a new position in Academy Sports and Outdoors during the 2nd quarter worth about $81,000. Institutional investors and hedge funds own 98.04% of the company’s stock.

NASDAQ:ASO opened at $43.07 on Tuesday. The stock’s fifty day moving average price is $39.55 and its two-hundred day moving average price is $35.59. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.51 and a current ratio of 1.46. The company has a market cap of $4.03 billion and a price-to-earnings ratio of 7.77. Academy Sports and Outdoors has a 52-week low of $12.05 and a 52-week high of $47.65.

Academy Sports and Outdoors (NASDAQ:ASO) last posted its quarterly earnings results on Wednesday, September 8th. The company reported $2.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.42 by $0.92. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.67 billion. Academy Sports and Outdoors had a return on equity of 48.08% and a net margin of 8.22%. The business’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, equities analysts predict that Academy Sports and Outdoors will post 5.49 EPS for the current fiscal year.

ASO has been the topic of a number of research analyst reports. Credit Suisse Group increased their price target on Academy Sports and Outdoors from $44.00 to $53.00 and gave the stock an “outperform” rating in a research report on Friday, September 10th. Loop Capital increased their price target on Academy Sports and Outdoors from $45.00 to $58.00 and gave the stock a “buy” rating in a research report on Friday, September 10th. Stephens increased their price target on Academy Sports and Outdoors from $44.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 9th. Zacks Investment Research upgraded Academy Sports and Outdoors from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a research report on Thursday, September 9th. Finally, Guggenheim increased their price target on Academy Sports and Outdoors from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, September 10th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $51.67.

Academy Sports and Outdoors Company Profile

Academy Sports and Outdoors, Inc, through its subsidiaries, operates as a sporting goods and outdoor recreational products retailer in the United States. The company sells coolers and drinkware, camping accessories, camping equipment, sunglasses, backpacks, and sports bags; marine equipment and fishing rods, reels, baits, and equipment; firearms, ammunition, archery and archery equipment, camouflage apparel, waders, shooting accessories, optics, airguns, and hunting equipment; baseball, football, basketball, soccer, golf, racket sports, volleyball, fitness equipment, fitness accessories, and nutrition; and patio equipment, outdoor cooking, wheeled goods, trampolines, play sets, watersports, pet equipment, electronics, and watches.

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