III Capital Management Sells 8,500 Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

III Capital Management cut its stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 23.6% in the fourth quarter, HoldingsChannel reports. The fund owned 27,527 shares of the company’s stock after selling 8,500 shares during the period. III Capital Management’s holdings in Academy Sports and Outdoors were worth $1,817,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Trust Investment Advisors raised its stake in shares of Academy Sports and Outdoors by 1.2% during the fourth quarter. Trust Investment Advisors now owns 14,792 shares of the company’s stock worth $976,000 after buying an additional 172 shares during the last quarter. Meritage Portfolio Management grew its holdings in Academy Sports and Outdoors by 2.1% during the fourth quarter. Meritage Portfolio Management now owns 8,337 shares of the company’s stock valued at $550,000 after purchasing an additional 174 shares during the period. SkyView Investment Advisors LLC grew its holdings in Academy Sports and Outdoors by 14.2% during the third quarter. SkyView Investment Advisors LLC now owns 1,975 shares of the company’s stock valued at $93,000 after purchasing an additional 245 shares during the period. Cullen Frost Bankers Inc. grew its holdings in Academy Sports and Outdoors by 4.6% during the fourth quarter. Cullen Frost Bankers Inc. now owns 5,980 shares of the company’s stock valued at $395,000 after purchasing an additional 265 shares during the period. Finally, Janney Montgomery Scott LLC grew its holdings in Academy Sports and Outdoors by 1.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 28,410 shares of the company’s stock valued at $1,875,000 after purchasing an additional 276 shares during the period.

Academy Sports and Outdoors Stock Down 3.2 %

NASDAQ ASO traded down $1.73 during mid-day trading on Tuesday, hitting $51.69. The company’s stock had a trading volume of 6,280,191 shares, compared to its average volume of 1,348,051. The company has a current ratio of 1.87, a quick ratio of 0.51 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $3.81 billion, a price-to-earnings ratio of 7.69, a PEG ratio of 0.84 and a beta of 1.37. The company’s 50 day simple moving average is $57.50 and its 200 day simple moving average is $62.19. Academy Sports and Outdoors, Inc. has a twelve month low of $42.83 and a twelve month high of $75.73.

Academy Sports and Outdoors (NASDAQ:ASO) last announced its quarterly earnings data on Thursday, March 21st. The company reported $2.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.28 by ($0.05). Academy Sports and Outdoors had a net margin of 8.43% and a return on equity of 28.99%. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.78 billion. Analysts anticipate that Academy Sports and Outdoors, Inc. will post 6.68 earnings per share for the current year.

Academy Sports and Outdoors Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Thursday, June 20th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Thursday, June 20th. Academy Sports and Outdoors’s payout ratio is 6.55%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Telsey Advisory Group restated an “outperform” rating and set a $75.00 price objective on shares of Academy Sports and Outdoors in a report on Tuesday. Wedbush reiterated an “outperform” rating and issued a $80.00 price target on shares of Academy Sports and Outdoors in a report on Wednesday, June 5th. Bank of America cut shares of Academy Sports and Outdoors from a “buy” rating to a “neutral” rating and reduced their price target for the company from $75.00 to $63.00 in a report on Tuesday. B. Riley reiterated a “buy” rating and issued a $72.00 price target (up previously from $65.00) on shares of Academy Sports and Outdoors in a report on Monday, March 25th. Finally, Jefferies Financial Group started coverage on shares of Academy Sports and Outdoors in a report on Friday, April 12th. They set a “buy” rating and a $85.00 target price for the company. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $73.40.

Insiders Place Their Bets

In other news, Director Jeffrey C. Tweedy sold 1,200 shares of the business’s stock in a transaction 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 approximately $472,200. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 2.19% of the company’s stock.

Academy Sports and Outdoors 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.