Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 26,349 Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 26,349 shares of the company’s stock, valued at approximately $1,538,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Banque Cantonale Vaudoise bought a new position in Academy Sports and Outdoors in the 3rd quarter valued at about $255,000. Aviance Capital Partners LLC boosted its holdings in shares of Academy Sports and Outdoors by 39.4% in the third quarter. Aviance Capital Partners LLC now owns 74,859 shares of the company’s stock valued at $4,369,000 after acquiring an additional 21,160 shares in the last quarter. Islay Capital Management LLC acquired a new position in shares of Academy Sports and Outdoors during the third quarter valued at approximately $1,299,000. Prudent Man Advisors LLC bought a new stake in Academy Sports and Outdoors during the third quarter worth approximately $205,000. Finally, Empowered Funds LLC acquired a new stake in Academy Sports and Outdoors in the third quarter worth approximately $7,895,000.

Academy Sports and Outdoors Stock Down 2.9 %

NASDAQ:ASO opened at $48.01 on Wednesday. The business’s fifty day moving average price is $53.52 and its 200 day moving average price is $53.77. The firm has a market capitalization of $3.38 billion, a price-to-earnings ratio of 7.41, a PEG ratio of 0.90 and a beta of 1.37. The company has a current ratio of 1.66, a quick ratio of 0.41 and a debt-to-equity ratio of 0.25. Academy Sports and Outdoors, Inc. has a 1-year low of $44.73 and a 1-year high of $75.73.

Academy Sports and Outdoors (NASDAQ:ASO) last issued its earnings results on Tuesday, September 10th. The company reported $2.03 earnings per share for the quarter, beating analysts’ consensus estimates of $1.96 by $0.07. Academy Sports and Outdoors had a return on equity of 25.56% and a net margin of 7.98%. The company had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same quarter in the prior year, the company earned $2.01 EPS. The firm’s quarterly revenue was down 2.2% on a year-over-year basis. On average, sell-side analysts forecast that Academy Sports and Outdoors, Inc. will post 6.01 earnings per share for the current fiscal year.

Academy Sports and Outdoors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, September 19th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $0.44 annualized dividend and a dividend yield of 0.92%. Academy Sports and Outdoors’s dividend payout ratio is 6.79%.

Insider Activity at Academy Sports and Outdoors

In related news, Director Jeffrey C. Tweedy sold 1,200 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $62.00, for a total transaction of $74,400.00. Following the transaction, the director now owns 8,906 shares of the company’s stock, valued at approximately $552,172. This trade represents a 11.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Wedbush reissued an “outperform” rating and issued a $65.00 price objective on shares of Academy Sports and Outdoors in a research note on Wednesday, September 11th. TD Cowen upped their price target on shares of Academy Sports and Outdoors from $54.00 to $56.00 and gave the company a “hold” rating in a report on Wednesday, September 11th. Truist Financial cut shares of Academy Sports and Outdoors from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $63.00 to $50.00 in a research note on Tuesday, November 19th. Jefferies Financial Group cut their target price on shares of Academy Sports and Outdoors from $68.00 to $64.00 and set a “buy” rating for the company in a research note on Wednesday, September 11th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $65.00 price target on shares of Academy Sports and Outdoors in a research report on Thursday, September 5th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $61.57.

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.