Pacer Advisors Inc. Has $30.77 Million Holdings in Columbia Sportswear Company (NASDAQ:COLM)

Key Points

• Pacer Advisors Inc. has reduced its stake in Columbia Sportswear Company by 68.3%, selling 875,507 shares and now holds 406,569 shares valued at approximately $30.77 million.
• Several other institutional investors have increased their holdings in Columbia Sportswear, with Invesco Ltd. boosting its stake by 25.3% and Arrowstreet Capital increasing by 447.7% during the fourth quarter.
• Columbia Sportswear reported earnings of $0.75 per share for the last quarter, surpassing analyst estimates, with a revenue of $778.45 million, up 1.1% year-over-year.

Pacer Advisors Inc. cut its stake in shares of Columbia Sportswear Company (NASDAQ:COLM - Free Report) by 68.3% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 406,569 shares of the textile maker's stock after selling 875,507 shares during the period. Pacer Advisors Inc. owned about 0.74% of Columbia Sportswear worth $30,773,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in Columbia Sportswear during the fourth quarter valued at approximately $1,904,000. State of Alaska Department of Revenue grew its position in Columbia Sportswear by 287.2% in the first quarter. State of Alaska Department of Revenue now owns 39,143 shares of the textile maker's stock worth $2,962,000 after acquiring an additional 29,035 shares in the last quarter. New Age Alpha Advisors LLC bought a new stake in Columbia Sportswear in the fourth quarter worth approximately $296,000. Headlands Technologies LLC grew its position in Columbia Sportswear by 122.9% in the fourth quarter. Headlands Technologies LLC now owns 16,361 shares of the textile maker's stock worth $1,373,000 after acquiring an additional 9,021 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in Columbia Sportswear by 8,642.2% in the first quarter. GAMMA Investing LLC now owns 52,453 shares of the textile maker's stock worth $3,970,000 after acquiring an additional 51,853 shares in the last quarter. 47.76% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Stephen E. Babson sold 2,776 shares of the stock in a transaction on Friday, May 9th. The shares were sold at an average price of $65.94, for a total value of $183,049.44. Following the completion of the transaction, the director owned 128,309 shares in the company, valued at approximately $8,460,695.46. This represents a 2.12% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 48.30% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Stifel Nicolaus decreased their target price on shares of Columbia Sportswear from $91.00 to $75.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Citigroup reissued a "neutral" rating and issued a $68.00 target price (down from $80.00) on shares of Columbia Sportswear in a research report on Monday, April 7th. UBS Group boosted their target price on shares of Columbia Sportswear from $42.00 to $51.00 and gave the stock a "sell" rating in a research report on Monday, April 14th. Needham & Company LLC started coverage on shares of Columbia Sportswear in a research report on Friday, May 30th. They issued a "hold" rating for the company. Finally, Barclays reduced their price objective on shares of Columbia Sportswear from $64.00 to $62.00 and set an "equal weight" rating for the company in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $68.00.

Columbia Sportswear Stock Up 0.3%

NASDAQ COLM traded up $0.19 during midday trading on Friday, hitting $60.63. The company had a trading volume of 482,603 shares, compared to its average volume of 519,462. The stock has a market cap of $3.34 billion, a price-to-earnings ratio of 15.51, a P/E/G ratio of 4.08 and a beta of 0.97. The firm has a fifty day simple moving average of $62.19 and a two-hundred day simple moving average of $71.69. Columbia Sportswear Company has a fifty-two week low of $58.44 and a fifty-two week high of $92.88.

Columbia Sportswear (NASDAQ:COLM - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The textile maker reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.07. Columbia Sportswear had a net margin of 6.61% and a return on equity of 12.57%. The company had revenue of $778.45 million for the quarter, compared to analyst estimates of $763.50 million. During the same period last year, the business posted $0.71 EPS. The business's quarterly revenue was up 1.1% on a year-over-year basis. As a group, equities analysts predict that Columbia Sportswear Company will post 4.1 earnings per share for the current year.

Columbia Sportswear Company Profile

Columbia Sportswear Company, together with its subsidiaries, designs, develops, markets, and distributes outdoor, active, and everyday lifestyle apparel, footwear, accessories, and equipment in the United States, Latin America, the Asia Pacific, Europe, the Middle East, Africa, and Canada. The company provides apparel, accessories, and equipment for hiking, trail running, snow, fishing, hunting, mountaineering, climbing, skiing and snowboarding, trail, and outdoor activities.