Adidas AG (OTCMKTS:ADDYY) Sees Significant Increase in Short Interest

Key Points

• Adidas AG experienced a significant increase in short interest in July, with total shares rising by 220.0% from 4,500 to 14,400 shares.
• Several analysts have upgraded Adidas's stock ratings, with DZ Bank and HSBC Global Research both assigning a "strong-buy" rating recently.
• Adidas announced a dividend increase, boosting the distribution to $0.7565 per share, representing a yield of 62.0%.

Adidas AG (OTCMKTS:ADDYY - Get Free Report) saw a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 14,400 shares, anincreaseof220.0% from the June 30th total of 4,500 shares. Based on an average daily volume of 115,500 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily volume of 115,500 shares, the days-to-cover ratio is presently 0.1 days.

Adidas Stock Performance

OTCMKTS:ADDYY traded down $0.07 during trading hours on Tuesday, reaching $96.27. 119,286 shares of the stock were exchanged, compared to its average volume of 126,129. Adidas has a 52 week low of $95.22 and a 52 week high of $137.73. The company has a quick ratio of 0.72, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $34.38 billion, a P/E ratio of 26.23, a P/E/G ratio of 0.53 and a beta of 1.18. The firm has a 50 day simple moving average of $117.52 and a 200-day simple moving average of $121.07.

Adidas (OTCMKTS:ADDYY - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $1.15 EPS for the quarter, beating the consensus estimate of $1.13 by $0.02. The company had revenue of $6.86 billion during the quarter, compared to analyst estimates of $6.30 billion. Adidas had a return on equity of 20.68% and a net margin of 4.93%. As a group, sell-side analysts forecast that Adidas will post 2.27 earnings per share for the current fiscal year.

Adidas Increases Dividend

The business also recently announced a dividend, which was paid on Tuesday, May 27th. Investors of record on Tuesday, May 20th were issued a $0.7565 dividend. This is an increase from Adidas's previous dividend of $0.24. The ex-dividend date was Monday, May 19th. This represents a yield of 62.0%. Adidas's dividend payout ratio is presently 20.71%.

Wall Street Analysts Forecast Growth

ADDYY has been the subject of a number of recent analyst reports. Berenberg Bank raised Adidas to a "hold" rating in a report on Tuesday, April 15th. DZ Bank raised Adidas from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 23rd. Piper Sandler began coverage on Adidas in a report on Monday, May 5th. They set an "overweight" rating on the stock. Bank of America raised Adidas from a "neutral" rating to a "buy" rating in a report on Thursday, April 24th. Finally, Hsbc Global Res raised Adidas from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, April 9th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and three have given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy".

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Mar Vista Investment Partners LLC raised its holdings in Adidas by 2.6% during the 4th quarter. Mar Vista Investment Partners LLC now owns 29,199 shares of the company's stock worth $3,556,000 after purchasing an additional 731 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Adidas by 13,801.2% during the first quarter. GAMMA Investing LLC now owns 124,694 shares of the company's stock worth $14,710,000 after buying an additional 123,797 shares during the last quarter. Rhumbline Advisers lifted its holdings in Adidas by 7.9% in the first quarter. Rhumbline Advisers now owns 9,655 shares of the company's stock valued at $1,139,000 after buying an additional 709 shares during the period. Finally, Yousif Capital Management LLC boosted its stake in Adidas by 9.4% in the second quarter. Yousif Capital Management LLC now owns 5,221 shares of the company's stock valued at $607,000 after acquiring an additional 450 shares during the last quarter.

Adidas Company Profile

adidas AG, together with its subsidiaries, designs, develops, produces, and markets athletic and sports lifestyle products in Europe, the Middle East, Africa, North America, Greater China, the Asia-Pacific, and Latin America. It offers footwear, apparel, and accessories and gear, such as bags and balls under the adidas brand; golf footwear and apparel under the adidas Golf brand; and outdoor footwear under the Five Ten brand.