Escalade, Incorporated (NASDAQ:ESCA) Sees Significant Drop in Short Interest

Escalade, Incorporated (NASDAQ:ESCA) was the target of a large drop in short interest in the month of February. As of February 28th, there was short interest totalling 85,400 shares, a drop of 13.7% from the February 13th total of 98,900 shares. Based on an average daily volume of 20,800 shares, the days-to-cover ratio is presently 4.1 days. Currently, 0.8% of the company’s stock are short sold.

Escalade Stock Performance

NASDAQ ESCA opened at $14.84 on Friday. The company has a fifty day simple moving average of $15.09 and a 200 day simple moving average of $14.59. Escalade has a 12-month low of $12.34 and a 12-month high of $16.99. The company has a current ratio of 3.45, a quick ratio of 1.41 and a debt-to-equity ratio of 0.13. The company has a market cap of $202.89 million, a P/E ratio of 15.79 and a beta of 1.30.

Escalade (NASDAQ:ESCA) last posted its quarterly earnings data on Wednesday, February 26th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.20 by ($0.01). The firm had revenue of $251.51 million for the quarter, compared to analysts’ expectations of $62.20 million. Escalade had a return on equity of 7.17% and a net margin of 5.20%. Sell-side analysts predict that Escalade will post 0.93 earnings per share for the current fiscal year.

Escalade Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 14th. Investors of record on Monday, April 7th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date of this dividend is Monday, April 7th. Escalade’s dividend payout ratio (DPR) is currently 65.22%.

Hedge Funds Weigh In On Escalade

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its holdings in shares of Escalade by 250.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,288 shares of the company’s stock worth $33,000 after buying an additional 1,635 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of Escalade by 22.9% in the 4th quarter. Wells Fargo & Company MN now owns 6,870 shares of the company’s stock worth $98,000 after buying an additional 1,278 shares during the last quarter. Hohimer Wealth Management LLC purchased a new position in shares of Escalade in the 3rd quarter worth about $166,000. Renaissance Technologies LLC boosted its holdings in shares of Escalade by 6.9% in the 4th quarter. Renaissance Technologies LLC now owns 12,430 shares of the company’s stock worth $178,000 after buying an additional 800 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of Escalade by 251.3% in the 3rd quarter. Barclays PLC now owns 13,185 shares of the company’s stock worth $186,000 after buying an additional 9,432 shares during the last quarter. 65.22% of the stock is owned by hedge funds and other institutional investors.

Escalade Company Profile

Escalade, Incorporated, together with its subsidiaries, manufactures, distributes, imports, and sells sporting goods in North America, Europe, and internationally. The company provides various sporting goods brands in basketball goals, archery, indoor and outdoor game recreation, and fitness products.