Short Interest in Johnson Outdoors Inc. (NASDAQ:JOUT) Declines By 5.7%

Johnson Outdoors Inc. (NASDAQ:JOUT) was the target of a large decrease in short interest in October. As of October 15th, there was short interest totalling 461,800 shares, a decrease of 5.7% from the September 30th total of 489,700 shares. Based on an average daily trading volume, of 45,300 shares, the short-interest ratio is presently 10.2 days. Approximately 5.5% of the shares of the stock are sold short.

Institutional Investors Weigh In On Johnson Outdoors

A number of hedge funds have recently bought and sold shares of JOUT. nVerses Capital LLC increased its holdings in shares of Johnson Outdoors by 100.0% in the 3rd quarter. nVerses Capital LLC now owns 800 shares of the company’s stock worth $29,000 after buying an additional 400 shares during the last quarter. BNP Paribas Financial Markets grew its position in Johnson Outdoors by 47.9% in the first quarter. BNP Paribas Financial Markets now owns 3,175 shares of the company’s stock worth $146,000 after acquiring an additional 1,029 shares in the last quarter. Gabelli Funds LLC increased its stake in Johnson Outdoors by 6.1% during the second quarter. Gabelli Funds LLC now owns 20,900 shares of the company’s stock worth $731,000 after acquiring an additional 1,200 shares during the last quarter. Empowered Funds LLC raised its position in Johnson Outdoors by 8.2% during the first quarter. Empowered Funds LLC now owns 16,213 shares of the company’s stock valued at $748,000 after purchasing an additional 1,225 shares during the period. Finally, Lazard Asset Management LLC bought a new stake in shares of Johnson Outdoors in the 1st quarter valued at approximately $101,000. Hedge funds and other institutional investors own 64.05% of the company’s stock.

Johnson Outdoors Price Performance

JOUT stock opened at $31.62 on Friday. The company has a market capitalization of $325.72 million, a price-to-earnings ratio of -39.04, a PEG ratio of 1.40 and a beta of 0.70. Johnson Outdoors has a 1-year low of $31.60 and a 1-year high of $55.30. The business has a 50 day simple moving average of $35.26 and a two-hundred day simple moving average of $36.56.

Johnson Outdoors (NASDAQ:JOUT) last announced its quarterly earnings results on Monday, August 5th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). The firm had revenue of $172.47 million for the quarter, compared to the consensus estimate of $176.14 million. Johnson Outdoors had a negative net margin of 1.42% and a negative return on equity of 1.65%. During the same period in the previous year, the company posted $1.44 earnings per share. Sell-side analysts anticipate that Johnson Outdoors will post 0.07 EPS for the current fiscal year.

Johnson Outdoors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were issued a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date was Wednesday, October 9th. Johnson Outdoors’s dividend payout ratio (DPR) is presently -162.96%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Johnson Outdoors from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th.

About Johnson Outdoors

Johnson Outdoors Inc designs, manufactures, and markets seasonal and outdoor recreational products for fishing worldwide. It operates through four segments: Fishing, Camping, Watercraft Recreation, and Diving. The Fishing segment offers electric motors for trolling, marine battery chargers, and shallow water anchors; sonar and GPS equipment for fish finding, navigation, and marine cartography; and downriggers for controlled-depth fishing.