BlackRock Inc. Takes $16.65 Million Position in Outdoor Holding Company $POWW

Key Points

• BlackRock acquired 7.3 million shares of Outdoor Holding Company during the second quarter, valued at approximately $16.65 million and representing a 6.29% stake.
• Outdoor reported quarterly earnings of $0.02 per share and revenue of $14.48 million, exceeding analysts’ $13.02 million revenue estimate. Institutional investors collectively own 26.40% of the company.
• Analyst sentiment is broadly positive, with a consensus “Buy” rating and an average price target of $2.62, compared with the stock’s recent price of $2.14.

BlackRock Inc. bought a new position in shares of Outdoor Holding Company (NASDAQ:POWW - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 7,300,711 shares of the company's stock, valued at approximately $16,646,000. BlackRock Inc. owned 6.29% of Outdoor as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Outdoor in the 1st quarter valued at $1,116,000. Fisher Asset Management LLC acquired a new position in shares of Outdoor during the fourth quarter worth $2,693,000. Orca Investment Management LLC acquired a new position in shares of Outdoor during the second quarter worth $977,000. Virtu Financial LLC purchased a new stake in Outdoor during the 4th quarter worth about $99,000. Finally, MetLife Investment Management LLC purchased a new stake in Outdoor during the 4th quarter worth about $92,000. Institutional investors and hedge funds own 26.40% of the company's stock.

Outdoor Stock Down 1.8%

Shares of NASDAQ POWW opened at $2.14 on Friday. The business has a 50-day moving average price of $2.26 and a 200 day moving average price of $2.12. The stock has a market cap of $248.26 million, a PE ratio of 71.36 and a beta of 1.01. The company has a quick ratio of 4.74, a current ratio of 4.74 and a debt-to-equity ratio of 0.04. Outdoor Holding Company has a 52-week low of $1.39 and a 52-week high of $2.67.

Outdoor (NASDAQ:POWW - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported $0.02 earnings per share for the quarter. The company had revenue of $14.48 million during the quarter, compared to analysts' expectations of $13.02 million. Outdoor had a return on equity of 1.90% and a net margin of 12.08%. Equities research analysts forecast that Outdoor Holding Company will post 0.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on POWW. Roth Capital reiterated a "buy" rating on shares of Outdoor in a research note on Tuesday, August 11th. Zacks Research raised shares of Outdoor from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, June 24th. Finally, Weiss Ratings upgraded shares of Outdoor from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, Outdoor currently has a consensus rating of "Buy" and an average price target of $2.62.

About Outdoor

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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