ProShare Advisors LLC Cuts Holdings in Vista Outdoor Inc. (NYSE:VSTO)

ProShare Advisors LLC cut its position in shares of Vista Outdoor Inc. (NYSE:VSTO) by 23.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,905 shares of the company’s stock after selling 2,753 shares during the quarter. ProShare Advisors LLC’s holdings in Vista Outdoor were worth $335,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in VSTO. Blue Trust Inc. purchased a new position in Vista Outdoor during the second quarter worth about $36,000. Innealta Capital LLC purchased a new position in Vista Outdoor during the second quarter worth about $76,000. Headlands Technologies LLC purchased a new position in Vista Outdoor during the second quarter worth about $91,000. Priebe Wealth Holdings LLC purchased a new position in Vista Outdoor during the first quarter worth about $203,000. Finally, Purus Wealth Management LLC purchased a new position in Vista Outdoor in the first quarter valued at about $204,000. 90.51% of the stock is currently owned by hedge funds and other institutional investors.

Vista Outdoor Stock Performance

NYSE VSTO opened at $38.98 on Thursday. The company’s 50 day moving average is $39.18 and its 200-day moving average is $36.39. Vista Outdoor Inc. has a 12-month low of $23.33 and a 12-month high of $41.11. The company has a quick ratio of 1.19, a current ratio of 2.80 and a debt-to-equity ratio of 0.53. The firm has a market cap of $2.27 billion, a P/E ratio of -354.36 and a beta of 0.81.

Vista Outdoor (NYSE:VSTO) last posted its quarterly earnings results on Monday, August 5th. The company reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.04. Vista Outdoor had a negative net margin of 0.24% and a positive return on equity of 19.18%. The company had revenue of $644.18 million for the quarter, compared to analyst estimates of $664.05 million. During the same quarter in the previous year, the firm posted $1.12 earnings per share. The company’s quarterly revenue was down 7.1% compared to the same quarter last year. Sell-side analysts predict that Vista Outdoor Inc. will post 3.98 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Lake Street Capital boosted their target price on shares of Vista Outdoor from $37.00 to $40.00 and gave the company a “hold” rating in a research note on Monday, July 15th. B. Riley cut shares of Vista Outdoor from a “buy” rating to a “neutral” rating and set a $43.00 target price on the stock. in a research note on Wednesday, August 7th. Roth Mkm cut shares of Vista Outdoor from a “buy” rating to a “neutral” rating and set a $42.00 target price on the stock. in a research note on Thursday, September 19th. Aegis upgraded shares of Vista Outdoor from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 14th. Finally, Roth Capital cut shares of Vista Outdoor from a “strong-buy” rating to a “hold” rating in a research note on Thursday, September 19th. Four investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $41.20.

Vista Outdoor Company Profile

Vista Outdoor Inc designs, manufactures, and markets outdoor recreation and shooting sports products. in the United States and internationally. The Kinetic Group segment designs, develops, distributes, and manufactures ammunition, primers, and components for hunters, recreational shooters, federal and local law enforcement agencies, and the military.