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

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

Insider Buying and Selling at Academy Sports and Outdoors

In related news, Director Jeffrey C. Tweedy sold 1,200 shares of the firm’s stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $60.00, for a total transaction of $72,000.00. Following the sale, the director now owns 7,870 shares in the company, valued at $472,200. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.19% of the stock is owned by insiders.

Hedge Funds Weigh In On Academy Sports and Outdoors

Institutional investors have recently added to or reduced their stakes in the company. Jones Financial Companies Lllp acquired a new position in shares of Academy Sports and Outdoors in the 4th quarter valued at approximately $26,000. Future Financial Wealth Managment LLC acquired a new stake in Academy Sports and Outdoors in the first quarter valued at $68,000. EverSource Wealth Advisors LLC boosted its stake in Academy Sports and Outdoors by 517.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,050 shares of the company’s stock valued at $69,000 after acquiring an additional 880 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in Academy Sports and Outdoors during the 4th quarter worth $73,000. Finally, GAMMA Investing LLC acquired a new position in Academy Sports and Outdoors during the 4th quarter worth $83,000.

Analyst Ratings Changes

ASO has been the topic of several recent analyst reports. Morgan Stanley cut their price objective on shares of Academy Sports and Outdoors from $70.00 to $65.00 and set an “equal weight” rating on the stock in a report on Friday, March 22nd. TD Cowen cut their price target on shares of 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. Evercore ISI lowered their price objective on shares of Academy Sports and Outdoors from $75.00 to $70.00 and set an “outperform” rating for the company in a research note on Tuesday, April 16th. Jefferies Financial Group assumed coverage on Academy Sports and Outdoors in a research report on Friday, April 12th. They issued a “buy” rating and a $85.00 target price on the stock. Finally, Telsey Advisory Group reduced their target price on Academy Sports and Outdoors from $83.00 to $75.00 and set an “outperform” rating on the stock in a report on Thursday, March 21st. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Academy Sports and Outdoors currently has an average rating of “Moderate Buy” and a consensus target price of $73.82.

Academy Sports and Outdoors Stock Down 4.3 %

NASDAQ ASO traded down $2.61 on Tuesday, reaching $58.15. The company had a trading volume of 523,245 shares, compared to its average volume of 1,337,397. The firm has a market capitalization of $4.29 billion, a PE ratio of 9.04, a P/E/G ratio of 0.89 and a beta of 1.35. The firm has a 50-day moving average of $66.03 and a 200-day moving average of $60.22. Academy Sports and Outdoors has a 1 year low of $42.83 and a 1 year high of $75.73. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.87 and a quick ratio of 0.51.

Academy Sports and Outdoors Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Investors of record on Tuesday, March 26th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 0.76%. This is a positive change from Academy Sports and Outdoors’s previous quarterly dividend of $0.09. The ex-dividend date was Monday, March 25th. Academy Sports and Outdoors’s dividend payout ratio (DPR) is presently 6.55%.

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.