Russell Investments Group Ltd. Reduces Holdings in American Outdoor Brands, Inc. $AOUT

Key Points

• Russell Investments Group Ltd. reduced its stake in American Outdoor Brands by 47.4%, selling 33,830 shares and owning a total of 37,556 shares.
• AOUT has received a buy rating from Wall Street analysts, with a consensus price target of $15.00 and a recent upgrade by Wall Street Zen.
• American Outdoor Brands reported earnings of $0.13 per share, exceeding analyst expectations, along with a significant revenue of $61.94 million for the latest quarter.

Russell Investments Group Ltd. trimmed its stake in American Outdoor Brands, Inc. (NASDAQ:AOUT - Free Report) by 47.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,556 shares of the company's stock after selling 33,830 shares during the quarter. Russell Investments Group Ltd. owned 0.29% of American Outdoor Brands worth $457,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Point72 Asia Singapore Pte. Ltd. purchased a new stake in American Outdoor Brands during the fourth quarter valued at $77,000. Bank of America Corp DE increased its position in American Outdoor Brands by 1,469.5% during the fourth quarter. Bank of America Corp DE now owns 10,390 shares of the company's stock valued at $158,000 after acquiring an additional 9,728 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in American Outdoor Brands during the fourth quarter valued at $158,000. Occudo Quantitative Strategies LP purchased a new stake in American Outdoor Brands during the fourth quarter valued at $168,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in American Outdoor Brands during the fourth quarter valued at $280,000. 49.87% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on AOUT shares. Lake Street Capital restated a "buy" rating and issued a $19.00 price target (down previously from $20.00) on shares of American Outdoor Brands in a research report on Friday, June 27th. Wall Street Zen raised American Outdoor Brands from a "hold" rating to a "buy" rating in a research note on Saturday, July 26th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $15.00.

American Outdoor Brands Stock Performance

AOUT traded down $0.34 during trading on Tuesday, hitting $10.10. 67,355 shares of the stock were exchanged, compared to its average volume of 42,834. The firm has a market cap of $128.88 million, a price-to-earnings ratio of 18.64 and a beta of 0.39. The firm has a 50 day simple moving average of $9.91 and a 200 day simple moving average of $11.54. American Outdoor Brands, Inc. has a 1 year low of $8.14 and a 1 year high of $17.91.

American Outdoor Brands (NASDAQ:AOUT - Get Free Report) last announced its earnings results on Thursday, June 26th. The company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.02) by $0.15. The business had revenue of $61.94 million for the quarter, compared to analysts' expectations of $48.46 million. American Outdoor Brands had a positive return on equity of 4.13% and a negative net margin of 0.03%. As a group, equities analysts anticipate that American Outdoor Brands, Inc. will post 0.36 earnings per share for the current fiscal year.

American Outdoor Brands Company Profile

American Outdoor Brands, Inc provides outdoor products and accessories for rugged outdoor enthusiasts in the United States and internationally. It offers hunting, fishing, camping, shooting, and personal security and defense products. The company also provides shooting sports accessories products include rests, vaults, and other related accessories; outdoor lifestyle products, such as premium sportsmen knives and tools for fishing and hunting; land management tools for hunting preparedness; harvesting products for post-hunt or post-fishing activities; outdoor cooking products; and camping, survival, and emergency preparedness products.