Johnson Outdoors Inc. $JOUT Stock Holdings Reduced by Invenomic Capital Management LP

Key Points

• Invenomic Capital Management LP sold 8,531 shares of Johnson Outdoors Inc., reducing its stake by 19.8% to approximately 34,617 shares worth $860,000.
• Johnson Outdoors reported a quarterly earnings per share of $0.75, significantly exceeding the consensus estimate of $0.24, alongside a revenue of $180.66 million.
• Wall Street Zen upgraded Johnson Outdoors from a "hold" to a "buy" rating, indicating improved outlook and confidence in the stock's performance.

Invenomic Capital Management LP lessened its holdings in shares of Johnson Outdoors Inc. (NASDAQ:JOUT - Free Report) by 19.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 34,617 shares of the company's stock after selling 8,531 shares during the quarter. Invenomic Capital Management LP owned approximately 0.33% of Johnson Outdoors worth $860,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC grew its position in shares of Johnson Outdoors by 49.0% during the first quarter. CWM LLC now owns 1,575 shares of the company's stock worth $39,000 after buying an additional 518 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Johnson Outdoors by 57.4% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,248 shares of the company's stock valued at $74,000 after acquiring an additional 820 shares during the period. GAMMA Investing LLC raised its stake in shares of Johnson Outdoors by 5,310.7% during the first quarter. GAMMA Investing LLC now owns 3,030 shares of the company's stock worth $75,000 after purchasing an additional 2,974 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Johnson Outdoors by 26.4% during the fourth quarter. Wells Fargo & Company MN now owns 2,788 shares of the company's stock worth $92,000 after purchasing an additional 583 shares during the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in shares of Johnson Outdoors during the first quarter worth approximately $203,000. Institutional investors and hedge funds own 64.05% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Johnson Outdoors from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th.

Johnson Outdoors Price Performance

NASDAQ:JOUT traded up $0.81 during mid-day trading on Thursday, reaching $40.93. The company's stock had a trading volume of 7,614 shares, compared to its average volume of 53,091. The company's fifty day simple moving average is $36.51 and its two-hundred day simple moving average is $29.71. Johnson Outdoors Inc. has a twelve month low of $21.33 and a twelve month high of $42.88. The stock has a market cap of $424.44 million, a P/E ratio of -10.58 and a beta of 0.85.

Johnson Outdoors (NASDAQ:JOUT - Get Free Report) last posted its quarterly earnings data on Friday, August 1st. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.51. Johnson Outdoors had a negative return on equity of 8.80% and a negative net margin of 7.02%.The company had revenue of $180.66 million for the quarter, compared to the consensus estimate of $172.98 million. Sell-side analysts expect that Johnson Outdoors Inc. will post -0.58 EPS for the current fiscal year.

Johnson Outdoors Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 24th. Stockholders of record on Thursday, July 10th were paid a $0.33 dividend. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend was Thursday, July 10th. Johnson Outdoors's payout ratio is currently -34.11%.

Johnson Outdoors Profile

Johnson Outdoors Inc designs, manufactures, and markets seasonal and outdoor recreational products for fishing worldwide. It operates through four segments: Fishing, Camping, Watercraft Recreation, and Diving. The Fishing segment offers electric motors for trolling, marine battery chargers, and shallow water anchors; sonar and GPS equipment for fish finding, navigation, and marine cartography; and downriggers for controlled-depth fishing.