Intech Investment Management LLC Sells 8,383 Shares of Academy Sports and Outdoors, Inc. $ASO

Key Points

• Intech Investment Management LLC reduced its stake in Academy Sports and Outdoors by 13.2%, selling 8,383 shares, and now owns 55,107 shares valued at $2.51 million.
• Several institutional investors increased their holdings in Academy Sports, with GAMMA Investing LLC significantly boosting its stake by 10,181.5% to own 127,799 shares.
• Analysts have varying ratings for Academy Sports, with a target price range around $55 to $65, reflecting a consensus of a “Moderate Buy” rating among evaluating firms.

Intech Investment Management LLC trimmed its holdings in Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 13.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 55,107 shares of the company's stock after selling 8,383 shares during the quarter. Intech Investment Management LLC owned 0.08% of Academy Sports and Outdoors worth $2,513,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of ASO. Dimensional Fund Advisors LP raised its stake in shares of Academy Sports and Outdoors by 4.0% in the first quarter. Dimensional Fund Advisors LP now owns 3,846,410 shares of the company's stock valued at $175,438,000 after purchasing an additional 147,395 shares in the last quarter. LSV Asset Management raised its stake in shares of Academy Sports and Outdoors by 12.5% in the first quarter. LSV Asset Management now owns 2,182,341 shares of the company's stock valued at $99,537,000 after purchasing an additional 242,300 shares in the last quarter. Westwood Holdings Group Inc. raised its stake in shares of Academy Sports and Outdoors by 36.1% in the first quarter. Westwood Holdings Group Inc. now owns 1,992,997 shares of the company's stock valued at $90,901,000 after purchasing an additional 528,367 shares in the last quarter. American Century Companies Inc. raised its stake in Academy Sports and Outdoors by 33.7% during the first quarter. American Century Companies Inc. now owns 1,675,428 shares of the company's stock worth $76,416,000 after acquiring an additional 422,729 shares in the last quarter. Finally, Royce & Associates LP raised its stake in Academy Sports and Outdoors by 8.4% during the first quarter. Royce & Associates LP now owns 1,273,158 shares of the company's stock worth $58,069,000 after acquiring an additional 98,582 shares in the last quarter.

Academy Sports and Outdoors Price Performance

NASDAQ ASO traded down $0.68 during midday trading on Friday, hitting $47.81. The company had a trading volume of 2,112,724 shares, compared to its average volume of 1,701,503. The company has a current ratio of 1.64, a quick ratio of 0.33 and a debt-to-equity ratio of 0.23. Academy Sports and Outdoors, Inc. has a twelve month low of $33.34 and a twelve month high of $61.80. The company has a market capitalization of $3.19 billion, a PE ratio of 8.95, a P/E/G ratio of 0.98 and a beta of 1.30. The firm has a 50-day moving average price of $51.77 and a 200-day moving average price of $46.17.

Academy Sports and Outdoors Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Thursday, September 11th will be given a dividend of $0.13 per share. The ex-dividend date is Thursday, September 11th. This represents a $0.52 dividend on an annualized basis and a yield of 1.1%. Academy Sports and Outdoors's payout ratio is currently 9.74%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Loop Capital set a $65.00 target price on Academy Sports and Outdoors in a report on Monday, July 21st. JPMorgan Chase & Co. raised their price target on Academy Sports and Outdoors from $54.00 to $56.00 and gave the company a "neutral" rating in a report on Wednesday, September 3rd. Wells Fargo & Company reiterated a "positive" rating on shares of Academy Sports and Outdoors in a report on Wednesday, September 3rd. Truist Financial raised their price target on Academy Sports and Outdoors from $47.00 to $50.00 and gave the company a "hold" rating in a report on Wednesday, September 3rd. Finally, Morgan Stanley decreased their price target on Academy Sports and Outdoors from $55.00 to $52.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 11th. Nine equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.78.

Insider Activity at Academy Sports and Outdoors

In related news, Director Christopher Lee Turner sold 4,400 shares of the company's stock in a transaction dated Thursday, June 26th. The stock was sold at an average price of $44.48, for a total transaction of $195,712.00. Following the sale, the director owned 7,084 shares in the company, valued at $315,096.32. This represents a 38.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 3.62% of the company's stock.

Academy Sports and Outdoors Company 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.