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

Key Points

• Adidas AG experienced a significant reduction in short interest, decreasing by 64.5% from 116,100 shares to 41,200 shares as of August 31st.
• Several institutional investors have increased their stakes in Adidas, with GAMMA Investing LLC notably growing its holdings by 13,801.2% in the first quarter.
• Wall Street analysts are optimistic, with DZ Bank upgrading Adidas from a "hold" to a "strong-buy" rating, contributing to an average rating of "Buy" from investment analysts.

Adidas AG (OTCMKTS:ADDYY - Get Free Report) saw a large decrease in short interest during the month of August. As of August 31st, there was short interest totaling 41,200 shares, a decrease of 64.5% from the August 15th total of 116,100 shares. Currently, 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 174,200 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily trading volume, of 174,200 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.0% of the shares of the company are short sold.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ADDYY shares. DZ Bank raised shares of Adidas from a "hold" rating to a "strong-buy" rating in a research note on Friday, May 23rd. Jefferies Financial Group raised shares of Adidas from a "hold" rating to a "buy" rating in a research note on Wednesday, September 3rd. Three analysts have rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy".

Adidas Trading Up 1.1%

Shares of ADDYY traded up $1.17 during mid-day trading on Thursday, hitting $107.00. The company had a trading volume of 52,845 shares, compared to its average volume of 74,892. The business's 50-day simple moving average is $104.61 and its 200-day simple moving average is $114.00. The company has a quick ratio of 0.72, a current ratio of 1.29 and a debt-to-equity ratio of 0.31. Adidas has a 1-year low of $94.33 and a 1-year high of $137.73. The stock has a market cap of $38.21 billion, a PE ratio of 29.16, a P/E/G ratio of 0.58 and a beta of 1.16.

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

Institutional Investors Weigh In On Adidas

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in Adidas by 13,801.2% in the first quarter. GAMMA Investing LLC now owns 124,694 shares of the company's stock valued at $14,710,000 after buying an additional 123,797 shares during the period. Rhumbline Advisers raised 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. Yousif Capital Management LLC raised its holdings 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 buying an additional 450 shares during the period. Finally, Mar Vista Investment Partners LLC raised its holdings in Adidas by 4.0% in the second quarter. Mar Vista Investment Partners LLC now owns 30,337 shares of the company's stock valued at $3,550,000 after buying an additional 1,180 shares during the period.

About Adidas

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.