Polar Asset Management Partners Inc. Makes New $1.21 Million Investment in Academy Sports and Outdoors, Inc. $ASO

Key Points

• Polar Asset Management Partners Inc. recently acquired a new position in Academy Sports and Outdoors, Inc., purchasing 26,590 shares valued at approximately $1.2 million during the first quarter.
• Analysts have varied opinions on ASO, with some maintaining "buy" ratings and others lowering price targets; the consensus price target currently stands at $58.71.
• Academy Sports and Outdoors announced a quarterly dividend of $0.13 per share, payable to shareholders on October 9th, reflecting a yield of 1.0%.

Polar Asset Management Partners Inc. purchased a new position in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 26,590 shares of the company's stock, valued at approximately $1,213,000.

A number of other institutional investors also recently modified their holdings of the business. CWM LLC raised its holdings in shares of Academy Sports and Outdoors by 7.3% during the 1st quarter. CWM LLC now owns 3,888 shares of the company's stock worth $177,000 after buying an additional 266 shares in the last quarter. SummerHaven Investment Management LLC increased its holdings in Academy Sports and Outdoors by 1.9% in the 1st quarter. SummerHaven Investment Management LLC now owns 14,874 shares of the company's stock worth $678,000 after purchasing an additional 275 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Academy Sports and Outdoors by 4.6% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,422 shares of the company's stock worth $299,000 after purchasing an additional 283 shares in the last quarter. Moody National Bank Trust Division increased its holdings in Academy Sports and Outdoors by 1.7% in the 1st quarter. Moody National Bank Trust Division now owns 17,636 shares of the company's stock worth $804,000 after purchasing an additional 287 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in Academy Sports and Outdoors by 25.6% in the 1st quarter. Nisa Investment Advisors LLC now owns 1,438 shares of the company's stock worth $66,000 after purchasing an additional 293 shares in the last quarter.

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. 3.62% of the stock is currently owned by insiders.

Academy Sports and Outdoors Trading Down 2.6%

Shares of Academy Sports and Outdoors stock traded down $1.26 on Friday, hitting $46.77. 674,145 shares of the company's stock traded hands, compared to its average volume of 1,649,473. Academy Sports and Outdoors, Inc. has a one year low of $33.34 and a one year high of $64.61. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.64 and a quick ratio of 0.33. The company has a fifty day moving average of $52.07 and a two-hundred day moving average of $46.28. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of 8.75, a price-to-earnings-growth ratio of 0.97 and a beta of 1.30.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last announced its earnings results on Tuesday, June 10th. The company reported $0.76 EPS for the quarter, missing the consensus estimate of $0.89 by ($0.13). Academy Sports and Outdoors had a net margin of 6.21% and a return on equity of 18.47%. The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.38 billion. During the same quarter in the previous year, the company earned $1.08 EPS. The firm's revenue for the quarter was down .9% on a year-over-year basis. As a group, sell-side analysts expect that Academy Sports and Outdoors, Inc. will post 5.59 earnings per share for the current year.

Academy Sports and Outdoors Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 1.1%. Academy Sports and Outdoors's dividend payout ratio is presently 9.74%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Guggenheim reaffirmed a "buy" rating and issued a $60.00 target price on shares of Academy Sports and Outdoors in a report on Monday. Morgan Stanley lowered their target price on Academy Sports and Outdoors from $55.00 to $52.00 and set an "equal weight" rating for the company in a report on Wednesday, June 11th. JPMorgan Chase & Co. upped their target price on Academy Sports and Outdoors from $54.00 to $56.00 and gave the stock a "neutral" rating in a report on Wednesday, September 3rd. Truist Financial upped their target price on Academy Sports and Outdoors from $47.00 to $50.00 and gave the stock a "hold" rating in a report on Wednesday, September 3rd. Finally, Citigroup cut Academy Sports and Outdoors from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $55.00 to $50.00 in a report on Wednesday, September 3rd. Nine research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $58.78.

Academy Sports and Outdoors 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.