Allianz Asset Management GmbH Sells 76,892 Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Key Points

• Allianz Asset Management GmbH has reduced its stake in Academy Sports and Outdoors by 28.8%, selling 76,892 shares and owning 190,032 shares valued at approximately $8.67 million.
• Insider trading activity revealed that Director Christopher Lee Turner sold 4,400 shares for about $195,712, representing a 38.31% decrease in his holdings.
• Recent analyst reports show a mixed sentiment with price targets ranging from $38.00 to $60.00, while the stock currently holds a consensus rating of "Moderate Buy."

Allianz Asset Management GmbH trimmed its stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 28.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 190,032 shares of the company's stock after selling 76,892 shares during the period. Allianz Asset Management GmbH owned approximately 0.29% of Academy Sports and Outdoors worth $8,667,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ASO. Norges Bank bought a new stake in shares of Academy Sports and Outdoors in the 4th quarter valued at approximately $47,436,000. Hood River Capital Management LLC bought a new stake in shares of Academy Sports and Outdoors in the 4th quarter valued at approximately $42,320,000. Dimensional Fund Advisors LP lifted its stake in shares of Academy Sports and Outdoors by 12.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,699,015 shares of the company's stock valued at $212,807,000 after purchasing an additional 404,863 shares during the last quarter. LSV Asset Management lifted its stake in shares of Academy Sports and Outdoors by 14.2% in the 4th quarter. LSV Asset Management now owns 1,940,041 shares of the company's stock valued at $111,611,000 after purchasing an additional 241,100 shares during the last quarter. Finally, Jump Financial LLC bought a new stake in shares of Academy Sports and Outdoors in the 4th quarter valued at approximately $9,947,000.

Insider Activity

In other news, Director Christopher Lee Turner sold 4,400 shares of Academy Sports and Outdoors stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $44.48, for a total value of $195,712.00. Following the transaction, the director directly owned 7,084 shares in the company, valued at approximately $315,096.32. This trade represents a 38.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.62% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Truist Financial raised their price objective on Academy Sports and Outdoors from $45.00 to $47.00 and gave the company a "hold" rating in a research note on Wednesday, June 11th. Citigroup decreased their price target on Academy Sports and Outdoors from $60.00 to $55.00 and set a "buy" rating for the company in a research note on Wednesday, June 4th. Evercore ISI decreased their price target on Academy Sports and Outdoors from $54.00 to $53.00 and set an "in-line" rating for the company in a research note on Tuesday, April 1st. Wells Fargo & Company raised their price target on Academy Sports and Outdoors from $38.00 to $43.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 14th. Finally, UBS Group decreased their price target on Academy Sports and Outdoors from $54.00 to $48.00 and set a "neutral" rating for the company in a research note on Wednesday, June 4th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $57.06.

Academy Sports and Outdoors Trading Down 0.4%

ASO opened at $55.48 on Friday. The stock's fifty day moving average is $46.57 and its two-hundred day moving average is $46.57. The company has a market capitalization of $3.69 billion, a P/E ratio of 10.20, a PEG ratio of 1.04 and a beta of 1.29. Academy Sports and Outdoors, Inc. has a 52 week low of $33.34 and a 52 week high of $64.61. The company has a quick ratio of 0.29, a current ratio of 1.52 and a debt-to-equity ratio of 0.25.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last announced its quarterly earnings results on Tuesday, June 10th. The company reported $0.76 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.89 by ($0.13). Academy Sports and Outdoors had a net margin of 6.55% and a return on equity of 19.62%. The company had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.38 billion. During the same quarter in the prior year, the business posted $1.08 earnings per share. The company's revenue was down .9% compared to the same quarter last year. Analysts forecast that Academy Sports and Outdoors, Inc. will post 5.59 earnings per share for the current year.

Academy Sports and Outdoors Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, July 17th. Stockholders of record on Thursday, June 19th were issued a $0.13 dividend. The ex-dividend date was Wednesday, June 18th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.94%. Academy Sports and Outdoors's dividend payout ratio is presently 9.56%.

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.

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