Short Interest in Academy Sports and Outdoors, Inc. (NASDAQ:ASO) Drops By 27.0%

Academy Sports and Outdoors, Inc. (NASDAQ:ASO) was the recipient of a significant decline in short interest during the month of February. As of February 27th, there was short interest totaling 6,039,004 shares, a decline of 27.0% from the February 12th total of 8,270,902 shares. Based on an average daily volume of 1,251,787 shares, the days-to-cover ratio is presently 4.8 days. Approximately 9.4% of the shares of the stock are sold short. Approximately 9.4% of the shares of the stock are sold short. Based on an average daily volume of 1,251,787 shares, the days-to-cover ratio is presently 4.8 days.

Insider Activity at Academy Sports and Outdoors

In related news, Director Brian T. Marley sold 3,500 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $55.01, for a total value of $192,535.00. Following the sale, the director directly owned 39,107 shares in the company, valued at approximately $2,151,276.07. The trade was a 8.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 3.62% of the company’s stock.

Hedge Funds Weigh In On Academy Sports and Outdoors

Hedge funds have recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in shares of Academy Sports and Outdoors by 8.5% during the first quarter. Royal Bank of Canada now owns 59,775 shares of the company’s stock valued at $2,726,000 after buying an additional 4,665 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Academy Sports and Outdoors by 3.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,472 shares of the company’s stock worth $1,846,000 after acquiring an additional 1,257 shares during the last quarter. United Services Automobile Association purchased a new position in Academy Sports and Outdoors during the 1st quarter valued at $223,000. Strs Ohio purchased a new position in Academy Sports and Outdoors during the 1st quarter valued at $128,000. Finally, Los Angeles Capital Management LLC grew its position in Academy Sports and Outdoors by 8.0% in the 2nd quarter. Los Angeles Capital Management LLC now owns 6,082 shares of the company’s stock valued at $273,000 after acquiring an additional 450 shares during the last quarter.

Academy Sports and Outdoors Trading Up 1.5%

Shares of NASDAQ ASO traded up $0.84 during trading hours on Friday, hitting $56.34. 1,292,839 shares of the company traded hands, compared to its average volume of 1,326,852. The company’s 50 day moving average price is $57.98 and its 200 day moving average price is $52.52. Academy Sports and Outdoors has a 12 month low of $33.34 and a 12 month high of $62.44. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of 10.30, a price-to-earnings-growth ratio of 0.97 and a beta of 1.23. The company has a current ratio of 1.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.22.

Academy Sports and Outdoors (NASDAQ:ASO) last issued its quarterly earnings results on Tuesday, December 9th. The company reported $1.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.08. Academy Sports and Outdoors had a return on equity of 18.24% and a net margin of 6.27%.The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.41 billion. During the same period last year, the company earned $0.98 earnings per share. Academy Sports and Outdoors’s revenue was up 3.0% on a year-over-year basis. On average, equities research analysts anticipate that Academy Sports and Outdoors will post 5.59 earnings per share for the current fiscal year.

Academy Sports and Outdoors Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Friday, March 20th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, March 20th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.1%. This is a boost from Academy Sports and Outdoors’s previous quarterly dividend of $0.13. Academy Sports and Outdoors’s dividend payout ratio is presently 9.51%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Truist Financial set a $59.00 price objective on Academy Sports and Outdoors in a report on Wednesday, January 14th. Weiss Ratings restated a “hold (c-)” rating on shares of Academy Sports and Outdoors in a research report on Monday, December 29th. Morgan Stanley upped their price target on shares of Academy Sports and Outdoors from $52.00 to $55.00 and gave the company an “equal weight” rating in a research note on Thursday, January 15th. Barclays increased their price objective on shares of Academy Sports and Outdoors from $51.00 to $59.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 10th. Finally, UBS Group lifted their price objective on shares of Academy Sports and Outdoors from $54.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday. Ten equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $60.22.

Academy Sports and Outdoors Company Profile

Academy Sports and Outdoors is a leading specialty retailer of sporting goods and outdoor gear, operating more than 260 stores across the United States. Headquartered in Katy, Texas, the company offers a broad assortment of merchandise spanning athletic footwear and apparel, team sports equipment, camping and outdoor recreation products, hunting and fishing supplies, and fitness accessories. In addition to its brick-and-mortar footprint, Academy serves customers through its e-commerce platform, offering online ordering, in-store pickup, and home delivery options.

The company’s product portfolio includes seasonal and year-round categories designed to meet the needs of both casual enthusiasts and serious athletes.