Renaissance Technologies LLC Takes Position in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Renaissance Technologies LLC acquired a new stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO) in the 2nd quarter, Holdings Channel reports. The firm acquired 63,491 shares of the company’s stock, valued at approximately $3,381,000.

Other hedge funds also recently modified their holdings of the company. Verition Fund Management LLC increased its stake in Academy Sports and Outdoors by 1,014.0% during 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 in the last quarter. Goldman Sachs Group Inc. increased its stake in Academy Sports and Outdoors by 20.6% during the 4th 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 bought a new stake in Academy Sports and Outdoors during the 1st quarter valued at $1,021,000. Point72 Asset Management L.P. increased its stake in Academy Sports and Outdoors by 36.6% during the 4th quarter. Point72 Asset Management L.P. now owns 2,089,067 shares of the company’s stock valued at $137,878,000 after purchasing an additional 559,414 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Academy Sports and Outdoors by 75.0% during the 1st quarter. Russell Investments Group Ltd. now owns 39,589 shares of the company’s stock valued at $2,674,000 after purchasing an additional 16,970 shares in the last quarter.

Insider Buying and Selling at Academy Sports and Outdoors

In other Academy Sports and Outdoors news, Director Jeffrey C. Tweedy sold 1,200 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $62.00, for a total transaction of $74,400.00. Following the sale, the director now directly owns 8,906 shares of the company’s stock, valued at $552,172. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Jeffrey C. Tweedy sold 625 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $54.25, for a total transaction of $33,906.25. Following the sale, the director now directly owns 10,106 shares in the company, valued at $548,250.50. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Jeffrey C. Tweedy sold 1,200 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $62.00, for a total value of $74,400.00. Following the sale, the director now owns 8,906 shares in the company, valued at $552,172. The disclosure for this sale can be found here. Insiders own 2.19% of the company’s stock.

Wall Street Analyst Weigh In

ASO has been the subject of a number of recent research reports. Bank of America lowered shares of Academy Sports and Outdoors from a “buy” rating to a “neutral” rating and decreased their price target for the company from $75.00 to $63.00 in a research note on Tuesday, June 11th. TD Cowen upped their target price 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. Evercore ISI upped their target price on shares of Academy Sports and Outdoors from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 11th. Morgan Stanley reiterated an “equal weight” rating and issued a $60.00 target price on shares of Academy Sports and Outdoors in a research note on Wednesday, September 11th. Finally, Robert W. Baird reduced their target price on shares of Academy Sports and Outdoors from $80.00 to $68.00 and set an “outperform” rating for the company in a research note on Wednesday, June 12th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $62.86.

Academy Sports and Outdoors Price Performance

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

Academy Sports and Outdoors (NASDAQ:ASO) last issued its quarterly earnings results on Tuesday, September 10th. The company reported $2.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.96 by $0.07. The company had revenue of $1.55 billion for 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 earned $2.01 EPS. On average, equities research analysts forecast that Academy Sports and Outdoors, Inc. will post 6.03 earnings per share for the current year.

Academy Sports and Outdoors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 17th. Shareholders 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 is Thursday, September 19th. Academy Sports and Outdoors’s dividend payout ratio (DPR) is presently 6.73%.

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.