Investors Buy High Volume of Put Options on Academy Sports and Outdoors (NASDAQ:ASO)

Academy Sports and Outdoors, Inc. (NASDAQ:ASO) was the recipient of unusually large options trading activity on Wednesday. Traders bought 8,017 put options on the stock. This is an increase of 142% compared to the typical volume of 3,317 put options.

Academy Sports and Outdoors Stock Performance

Shares of ASO stock traded down $1.47 during trading hours on Friday, reaching $53.21. The company had a trading volume of 554,974 shares, compared to its average volume of 1,453,575. The business has a fifty day moving average price of $54.29 and a 200-day moving average price of $54.05. Academy Sports and Outdoors has a one year low of $44.73 and a one year high of $75.73. The firm has a market cap of $3.69 billion, a PE ratio of 8.75, a price-to-earnings-growth ratio of 1.21 and a beta of 1.25. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.32 and a current ratio of 1.57.

Academy Sports and Outdoors (NASDAQ:ASO) last announced its quarterly earnings results on Tuesday, December 10th. The company reported $0.98 EPS for the quarter, missing analysts’ consensus estimates of $1.28 by ($0.30). Academy Sports and Outdoors had a return on equity of 23.32% and a net margin of 7.49%. The company had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.39 billion. During the same quarter in the prior year, the firm earned $1.38 earnings per share. The business’s revenue was down 3.9% compared to the same quarter last year. Sell-side analysts predict that Academy Sports and Outdoors will post 5.59 earnings per share for the current fiscal year.

Academy Sports and Outdoors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Wednesday, December 18th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date was Wednesday, December 18th. Academy Sports and Outdoors’s payout ratio is 7.22%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ASO shares. Telsey Advisory Group dropped their target price on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, December 5th. Wedbush reiterated an “outperform” rating and issued a $65.00 price target on shares of Academy Sports and Outdoors in a research note on Wednesday, December 11th. Citigroup started coverage on shares of Academy Sports and Outdoors in a research note on Wednesday, December 18th. They issued a “buy” rating and a $65.00 price target for the company. Truist Financial increased their price target on shares of Academy Sports and Outdoors from $50.00 to $51.00 and gave the stock a “hold” rating in a research note on Wednesday, December 11th. Finally, TD Cowen increased their price target on shares of Academy Sports and Outdoors from $54.00 to $61.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $61.67.

Hedge Funds Weigh In On Academy Sports and Outdoors

Institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC lifted its holdings in Academy Sports and Outdoors by 15.3% during the third quarter. FMR LLC now owns 10,739,463 shares of the company’s stock valued at $626,755,000 after purchasing an additional 1,422,971 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in Academy Sports and Outdoors by 8.1% during the fourth quarter. Pacer Advisors Inc. now owns 2,649,276 shares of the company’s stock valued at $152,413,000 after purchasing an additional 197,384 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Academy Sports and Outdoors by 2.6% during the third quarter. Geode Capital Management LLC now owns 2,023,192 shares of the company’s stock valued at $118,092,000 after purchasing an additional 50,715 shares in the last quarter. Stephens Investment Management Group LLC lifted its holdings in Academy Sports and Outdoors by 331.4% during the fourth quarter. Stephens Investment Management Group LLC now owns 959,680 shares of the company’s stock valued at $55,210,000 after purchasing an additional 737,212 shares in the last quarter. Finally, Royce & Associates LP lifted its holdings in Academy Sports and Outdoors by 62.5% during the third quarter. Royce & Associates LP now owns 951,256 shares of the company’s stock valued at $55,515,000 after purchasing an additional 365,929 shares in the last quarter.

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.