Kanen Wealth Management LLC Takes Position in Outdoor Holding Company $POWW

Key Points

• Kanen Wealth Management LLC acquired a stake in Outdoor Holding Company ($POWW) during Q1, purchasing 3,778,270 shares valued at approximately $5.2 million, making it the firm's 14th largest position.
• A significant portion of Outdoor's stock, around 26.40%, is currently owned by institutional investors and hedge funds, with multiple firms increasing their positions in the company during the first quarter.
• Outdoor's stock has seen recent upgrades, including a shift in ratings from "strong sell" to "hold" by Zacks Research, and it currently holds an average price target of $1.75.

Kanen Wealth Management LLC bought a new stake in shares of Outdoor Holding Company (NASDAQ:POWW - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,778,270 shares of the company's stock, valued at approximately $5,214,000. Outdoor accounts for about 2.1% of Kanen Wealth Management LLC's portfolio, making the stock its 14th largest position. Kanen Wealth Management LLC owned approximately 3.18% of Outdoor as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Balentine LLC grew its position in shares of Outdoor by 0.5% during the 1st quarter. Balentine LLC now owns 16,100,000 shares of the company's stock valued at $22,218,000 after acquiring an additional 80,000 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Outdoor by 11.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 734,569 shares of the company's stock valued at $1,014,000 after acquiring an additional 74,013 shares during the period. Empowered Funds LLC grew its position in shares of Outdoor by 7.4% during the 1st quarter. Empowered Funds LLC now owns 645,302 shares of the company's stock valued at $891,000 after acquiring an additional 44,545 shares during the period. Focus Partners Wealth grew its position in shares of Outdoor by 2.5% during the 1st quarter. Focus Partners Wealth now owns 545,742 shares of the company's stock valued at $753,000 after acquiring an additional 13,130 shares during the period. Finally, Nuveen Asset Management LLC grew its position in shares of Outdoor by 29.0% during the 4th quarter. Nuveen Asset Management LLC now owns 272,165 shares of the company's stock valued at $299,000 after acquiring an additional 61,136 shares during the period. 26.40% of the stock is currently owned by institutional investors and hedge funds.

Outdoor Trading Up 6.0%

POWW stock opened at $1.60 on Friday. The company has a current ratio of 3.28, a quick ratio of 3.28 and a debt-to-equity ratio of 0.10. Outdoor Holding Company has a 12-month low of $0.95 and a 12-month high of $2.14. The stock has a market cap of $187.38 million, a price-to-earnings ratio of -3.48 and a beta of 1.19. The business's 50-day moving average is $1.30 and its 200 day moving average is $1.46.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on POWW. Zacks Research upgraded Outdoor from a "strong sell" rating to a "hold" rating in a report on Monday, August 25th. Wall Street Zen upgraded Outdoor from a "sell" rating to a "hold" rating in a report on Saturday, August 16th. Finally, Lake Street Capital lowered their price objective on Outdoor from $3.00 to $2.00 and set a "buy" rating on the stock in a report on Monday, June 23rd. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Outdoor presently has an average rating of "Hold" and an average price target of $1.75.

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.

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