Arrowstreet Capital Limited Partnership Takes $1.12 Million Position in Outdoor Holding Company $POWW

Key Points

• Arrowstreet Capital initiated a position in Outdoor Holding Company, purchasing 555,264 shares valued at approximately $1.12 million, or about 0.47% of the company. Institutional investors collectively own 26.4% of the stock.
• Outdoor reported quarterly revenue of $13.89 million, exceeding estimates of $12.70 million, but its loss of $0.03 per share was worse than the expected $0.02 loss.
• Analyst sentiment is mixed but leans positive: Roth Capital raised its price target to $2.75 and Zacks upgraded the stock to “strong buy,” while another firm maintained a sell rating. The consensus rating is “Moderate Buy,” with a $2.62 target price.

Arrowstreet Capital Limited Partnership bought a new position in shares of Outdoor Holding Company (NASDAQ:POWW - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 555,264 shares of the company's stock, valued at approximately $1,116,000. Arrowstreet Capital Limited Partnership owned approximately 0.47% of Outdoor as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. BNP Paribas Financial Markets increased its stake in shares of Outdoor by 101.4% in the 3rd quarter. BNP Paribas Financial Markets now owns 18,437 shares of the company's stock valued at $27,000 after purchasing an additional 9,283 shares during the last quarter. Abel Hall LLC bought a new stake in shares of Outdoor during the 4th quarter worth $32,000. R Squared Ltd acquired a new stake in Outdoor in the fourth quarter valued at about $32,000. Squarepoint Ops LLC acquired a new stake in Outdoor in the third quarter valued at about $27,000. Finally, AQR Capital Management LLC acquired a new stake in Outdoor in the first quarter valued at about $29,000. Institutional investors own 26.40% of the company's stock.

Outdoor Trading Down 0.5%

Shares of Outdoor stock opened at $2.16 on Friday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.96 and a current ratio of 3.96. Outdoor Holding Company has a 52 week low of $1.11 and a 52 week high of $2.60. The stock has a 50 day moving average price of $2.19 and a two-hundred day moving average price of $2.05. The stock has a market capitalization of $250.91 million, a PE ratio of -43.20 and a beta of 1.02.

Outdoor (NASDAQ:POWW - Get Free Report) last issued its quarterly earnings data on Monday, June 22nd. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.02) by ($0.01). The business had revenue of $13.89 million for the quarter, compared to analyst estimates of $12.70 million. Outdoor had a negative net margin of 6.92% and a positive return on equity of 1.89%. As a group, equities analysts anticipate that Outdoor Holding Company will post -0.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

POWW has been the subject of a number of research analyst reports. Roth Capital upped their price objective on shares of Outdoor from $2.30 to $2.75 and gave the stock a "buy" rating in a research report on Monday, June 22nd. Weiss Ratings lowered shares of Outdoor from a "sell (d+)" rating to a "sell (d-)" rating in a research report on Tuesday, June 23rd. Finally, Zacks Research raised shares of Outdoor from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Outdoor presently has an average rating of "Moderate Buy" and a consensus target price of $2.62.

Outdoor Company Profile

AMMO, Inc designs, produces, and markets ammunition and ammunition component products for sport and recreational shooters, hunters, individuals seeking home or personal protection, manufacturers, and law enforcement and military agencies. The company's products include STREAK Visual Ammunition that enables shooters to see the path of the bullets fired by them; and Stelth Subsonic ammunition primarily for suppressed firearms. It also owns and operates GunBroker.com, an auction site that supports the lawful sale of firearms, ammunition, and hunting/shooting accessories.

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