American Outdoor Brands, Inc. (NASDAQ:AOUT) Shares Sold by Royce & Associates LP

Key Points

• Royce & Associates LP reduced its stake in American Outdoor Brands by 9.2%, now owning 515,752 shares valued at $6.27 million.
• American Outdoor Brands reported earnings of $0.13 per share for the last quarter, exceeding analysts' expectations and generating revenue of $61.94 million.
• Analysts have upgraded the stock, with Wall Street Zen raising it from "hold" to "buy," and Lake Street Capital setting a revised price target of $19.00.

Royce & Associates LP lowered its holdings in American Outdoor Brands, Inc. (NASDAQ:AOUT - Free Report) by 9.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 515,752 shares of the company's stock after selling 52,000 shares during the quarter. Royce & Associates LP owned 4.05% of American Outdoor Brands worth $6,272,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AOUT. Arrowstreet Capital Limited Partnership grew its stake in shares of American Outdoor Brands by 79.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 134,396 shares of the company's stock valued at $2,048,000 after buying an additional 59,356 shares in the last quarter. Millennium Management LLC acquired a new position in American Outdoor Brands during the 4th quarter worth $673,000. Renaissance Technologies LLC boosted its position in shares of American Outdoor Brands by 22.3% during the 4th quarter. Renaissance Technologies LLC now owns 331,768 shares of the company's stock worth $5,056,000 after acquiring an additional 60,600 shares in the last quarter. Jane Street Group LLC acquired a new position in shares of American Outdoor Brands during the 4th quarter worth about $460,000. Finally, Virtu Financial LLC acquired a new position in shares of American Outdoor Brands during the 4th quarter worth about $162,000. Hedge funds and other institutional investors own 49.87% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on AOUT. Wall Street Zen raised American Outdoor Brands from a "hold" rating to a "buy" rating in a report on Saturday. Lake Street Capital reaffirmed a "buy" rating and set a $19.00 price objective (down from $20.00) on shares of American Outdoor Brands in a research note on Friday, June 27th.

American Outdoor Brands Stock Down 0.7%

Shares of AOUT traded down $0.07 on Wednesday, reaching $9.56. The stock had a trading volume of 6,890 shares, compared to its average volume of 84,126. The firm has a market capitalization of $121.92 million, a PE ratio of -954.55 and a beta of 0.39. The firm has a 50-day moving average of $10.79 and a 200 day moving average of $12.74. American Outdoor Brands, Inc. has a twelve month low of $8.11 and a twelve month high of $17.91.

American Outdoor Brands (NASDAQ:AOUT - Get Free Report) last released its quarterly earnings results on Thursday, June 26th. The company reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of ($0.02) by $0.15. The business had revenue of $61.94 million for the quarter, compared to analysts' expectations of $48.46 million. American Outdoor Brands had a positive return on equity of 4.13% and a negative net margin of 0.03%. On average, sell-side analysts anticipate that American Outdoor Brands, Inc. will post 0.36 earnings per share for the current fiscal year.

American Outdoor Brands Profile

American Outdoor Brands, Inc provides outdoor products and accessories for rugged outdoor enthusiasts in the United States and internationally. It offers hunting, fishing, camping, shooting, and personal security and defense products. The company also provides shooting sports accessories products include rests, vaults, and other related accessories; outdoor lifestyle products, such as premium sportsmen knives and tools for fishing and hunting; land management tools for hunting preparedness; harvesting products for post-hunt or post-fishing activities; outdoor cooking products; and camping, survival, and emergency preparedness products.