Short Interest in Vista Outdoor Inc (NYSE:VSTO) Declines By 15.7%

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Vista Outdoor Inc (NYSE:VSTO) was the recipient of a large decline in short interest in September. As of September 30th, there was short interest totalling 3,280,000 shares, a decline of 15.7% from the August 30th total of 3,890,000 shares. Approximately 5.8% of the company’s stock are short sold. Based on an average trading volume of 746,900 shares, the short-interest ratio is currently 4.4 days.

Several equities analysts recently commented on VSTO shares. B. Riley set a $11.00 price target on Vista Outdoor and gave the stock a “buy” rating in a research report on Monday, September 30th. ValuEngine raised Vista Outdoor from a “hold” rating to a “buy” rating in a research report on Friday. Cowen restated a “hold” rating and set a $5.00 price objective on shares of Vista Outdoor in a report on Monday, September 30th. DA Davidson started coverage on Vista Outdoor in a report on Friday. They set a “neutral” rating and a $6.50 price objective on the stock. Finally, Lake Street Capital started coverage on Vista Outdoor in a report on Tuesday, July 9th. They set a “buy” rating and a $11.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the company’s stock. Vista Outdoor currently has an average rating of “Hold” and an average target price of $10.42.

VSTO stock traded up $0.01 during midday trading on Tuesday, hitting $6.39. 31,874 shares of the company’s stock were exchanged, compared to its average volume of 640,841. The company has a current ratio of 2.96, a quick ratio of 1.82 and a debt-to-equity ratio of 1.37. Vista Outdoor has a 12-month low of $4.30 and a 12-month high of $16.00. The firm has a 50 day moving average price of $5.95 and a 200-day moving average price of $7.49. The stock has a market capitalization of $364.43 million, a price-to-earnings ratio of 45.29 and a beta of 0.44.

Vista Outdoor (NYSE:VSTO) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.11). Vista Outdoor had a positive return on equity of 0.48% and a negative net margin of 30.80%. The business had revenue of $459.77 million for the quarter, compared to analysts’ expectations of $471.41 million. The business’s revenue was down 13.1% on a year-over-year basis. On average, sell-side analysts forecast that Vista Outdoor will post 0.13 EPS for the current fiscal year.

In related news, CFO Miguel A. Lopez purchased 10,000 shares of Vista Outdoor stock in a transaction that occurred on Tuesday, August 20th. The shares were purchased at an average cost of $4.81 per share, with a total value of $48,100.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Christopher T. Metz purchased 33,730 shares of Vista Outdoor stock in a transaction that occurred on Friday, August 16th. The shares were bought at an average cost of $4.46 per share, for a total transaction of $150,435.80. The disclosure for this purchase can be found here. Insiders own 0.72% of the company’s stock.

A number of hedge funds have recently bought and sold shares of VSTO. NumerixS Investment Technologies Inc purchased a new stake in Vista Outdoor during the 2nd quarter worth approximately $40,000. Bank of Montreal Can increased its holdings in shares of Vista Outdoor by 509.1% in the 2nd quarter. Bank of Montreal Can now owns 5,263 shares of the company’s stock valued at $47,000 after acquiring an additional 4,399 shares during the last quarter. Quantamental Technologies LLC bought a new stake in shares of Vista Outdoor in the 2nd quarter valued at approximately $65,000. Point72 Hong Kong Ltd bought a new stake in shares of Vista Outdoor in the 2nd quarter valued at approximately $69,000. Finally, Magnus Financial Group LLC bought a new stake in shares of Vista Outdoor in the 2nd quarter valued at approximately $103,000. Institutional investors own 94.74% of the company’s stock.

Vista Outdoor Company Profile

Vista Outdoor Inc designs, manufactures, and markets consumer products for outdoor sports and recreation markets in the United States and internationally. The company operates through Outdoor Products and Shooting Sports segments. The Outdoor Products segment offer sports products for action sports, including helmets, goggles, and accessories for cycling, snow, action, and power sports; archery/hunting accessories, such as hunting arrows, game calls, hunting blinds, game cameras, and waterfowl decoys; outdoor cooking solutions for camping; eyewear and sport protection products, including safety and protective eyewear, and fashion and sports eyewear; golf products, such as laser rangefinders; hydration products comprising hydration packs and water bottles; optical products, such as binoculars, riflescopes, and telescopes; shooting accessories, including reloading equipment, clay targets, and premium gun care products; tactical products, such as holsters, duty gear, bags, and packs; and water sports products, including stand up paddle boards.

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