Armistice Capital LLC Decreases Position in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Armistice Capital LLC reduced its stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 19.7% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 95,627 shares of the company’s stock after selling 23,421 shares during the period. Armistice Capital LLC’s holdings in Academy Sports and Outdoors were worth $5,092,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Verition Fund Management LLC lifted its holdings in shares of Academy Sports and Outdoors by 1,014.0% in the 4th quarter. Verition Fund Management LLC now owns 213,542 shares of the company’s stock valued at $14,094,000 after purchasing an additional 194,373 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Academy Sports and Outdoors by 20.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,010,989 shares of the company’s stock valued at $66,725,000 after buying an additional 172,783 shares during the last quarter. UniSuper Management Pty Ltd acquired a new stake in shares of Academy Sports and Outdoors in the first quarter valued at approximately $1,021,000. Point72 Asset Management L.P. grew its position in shares of Academy Sports and Outdoors by 36.6% during the fourth quarter. Point72 Asset Management L.P. now owns 2,089,067 shares of the company’s stock worth $137,878,000 after acquiring an additional 559,414 shares during the last quarter. Finally, Russell Investments Group Ltd. increased 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 acquiring an additional 16,970 shares during the period.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ASO shares. Evercore ISI raised their price objective on shares of Academy Sports and Outdoors from $60.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 11th. Loop Capital reissued a “buy” rating and set a $77.00 price target on shares of Academy Sports and Outdoors in a report on Wednesday, September 11th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $65.00 price objective on shares of Academy Sports and Outdoors in a research note on Thursday, September 5th. Wells Fargo & Company lifted their target price on Academy Sports and Outdoors from $46.00 to $51.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 11th. Finally, Jefferies Financial Group dropped their target price on Academy Sports and Outdoors from $68.00 to $64.00 and set a “buy” rating on the stock in a report on Wednesday, September 11th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $62.86.

Academy Sports and Outdoors Price Performance

Academy Sports and Outdoors stock opened at $59.52 on Friday. The company has a market cap of $4.18 billion, a P/E ratio of 9.10, a price-to-earnings-growth ratio of 1.16 and a beta of 1.34. Academy Sports and Outdoors, Inc. has a one year low of $42.83 and a one year high of $75.73. The business has a fifty day moving average of $54.77 and a two-hundred day moving average of $56.90. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.41 and a current ratio of 1.66.

Academy Sports and Outdoors (NASDAQ:ASO) last announced its quarterly earnings data on Tuesday, September 10th. The company reported $2.03 EPS for the quarter, beating the consensus estimate of $1.96 by $0.07. Academy Sports and Outdoors had a net margin of 7.98% and a return on equity of 25.56%. The firm had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter last year, the business earned $2.01 earnings per share. The business’s revenue for the quarter was down 2.2% compared to the same quarter last year. As a group, analysts predict that Academy Sports and Outdoors, Inc. will post 6.03 earnings per share for the current fiscal year.

Academy Sports and Outdoors Dividend Announcement

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

Insider Buying and Selling

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