ProShare Advisors LLC Lowers Holdings in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

ProShare Advisors LLC lowered its position in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 23.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,167 shares of the company’s stock after selling 3,459 shares during the period. ProShare Advisors LLC’s holdings in Academy Sports and Outdoors were worth $595,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in ASO. Verition Fund Management LLC lifted its holdings in Academy Sports and Outdoors by 1,014.0% during the fourth quarter. Verition Fund Management LLC now owns 213,542 shares of the company’s stock worth $14,094,000 after buying an additional 194,373 shares during the period. Goldman Sachs Group Inc. boosted its position in Academy Sports and Outdoors by 20.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,010,989 shares of the company’s stock valued at $66,725,000 after purchasing an additional 172,783 shares in the last quarter. UniSuper Management Pty Ltd purchased a new position in Academy Sports and Outdoors in the first quarter valued at about $1,021,000. Point72 Asset Management L.P. raised its holdings in Academy Sports and Outdoors by 36.6% in the fourth quarter. Point72 Asset Management L.P. now owns 2,089,067 shares of the company’s stock worth $137,878,000 after purchasing an additional 559,414 shares in the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Academy Sports and Outdoors by 75.0% in the 1st quarter. Russell Investments Group Ltd. now owns 39,589 shares of the company’s stock valued at $2,674,000 after buying an additional 16,970 shares in the last quarter.

Academy Sports and Outdoors Price Performance

Shares of NASDAQ ASO opened at $59.19 on Monday. The company has a quick ratio of 0.41, a current ratio of 1.66 and a debt-to-equity ratio of 0.25. Academy Sports and Outdoors, Inc. has a 52 week low of $42.83 and a 52 week high of $75.73. The business’s 50 day moving average price is $54.88 and its 200 day moving average price is $56.67. The firm has a market cap of $4.27 billion, a P/E ratio of 9.05, a P/E/G ratio of 1.16 and a beta of 1.34.

Academy Sports and Outdoors (NASDAQ:ASO) last posted its earnings results on Tuesday, September 10th. The company reported $2.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.96 by $0.07. The company had revenue of $1.55 billion during the quarter, compared to the consensus estimate of $1.57 billion. Academy Sports and Outdoors had a net margin of 7.98% and a return on equity of 25.56%. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.01 earnings per share. On average, sell-side analysts expect that Academy Sports and Outdoors, Inc. will post 6.03 earnings per share for the current year.

Academy Sports and Outdoors Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 17th. Investors of record on Thursday, September 19th will be issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend is Thursday, September 19th. Academy Sports and Outdoors’s dividend payout ratio (DPR) is 6.73%.

Wall Street Analyst Weigh In

Several research firms recently commented on ASO. TD Cowen boosted their price objective on shares of Academy Sports and Outdoors from $54.00 to $56.00 and gave the stock a “hold” rating in a research note on Wednesday, September 11th. UBS Group lowered Academy Sports and Outdoors from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $81.00 to $58.00 in a report on Wednesday, June 12th. Morgan Stanley restated an “equal weight” rating and set a $60.00 target price on shares of Academy Sports and Outdoors in a research note on Wednesday, September 11th. 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, September 11th. Finally, Truist Financial upped their price objective on shares of Academy Sports and Outdoors from $60.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $62.86.

Insider Activity at Academy Sports and Outdoors

In other news, Director Jeffrey C. Tweedy sold 625 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $54.25, for a total transaction of $33,906.25. Following the sale, the director now owns 10,106 shares of the company’s stock, valued at approximately $548,250.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Jeffrey C. Tweedy sold 1,200 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $62.00, for a total value of $74,400.00. Following the completion of the transaction, the director now owns 8,906 shares of the company’s stock, valued at approximately $552,172. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Jeffrey C. Tweedy sold 625 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $54.25, for a total value of $33,906.25. Following the transaction, the director now owns 10,106 shares in the company, valued at approximately $548,250.50. The disclosure for this sale can be found here. 2.19% of the stock is owned by company insiders.

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.