Shellback Capital LP Purchases 37,371 Shares of Academy Sports and Outdoors, Inc. $ASO

Key Points

• Shellback Capital LP increased its stake in Academy Sports and Outdoors by 23.0% during the first quarter, holding approximately 199,871 shares valued at $9.1 million.
• Multiple hedge funds are showing interest, with Your Advocates Ltd. LLP enhancing its holdings by 101.5% and US Bancorp DE significantly increasing its position by 280.0%.
• Academy Sports reported a missed EPS forecast of $0.76, falling short of analysts' expectations of $0.89, while its revenue also declined compared to last year.

Shellback Capital LP raised its position in Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) by 23.0% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 199,871 shares of the company's stock after buying an additional 37,371 shares during the period. Shellback Capital LP owned 0.30% of Academy Sports and Outdoors worth $9,116,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Polar Asset Management Partners Inc. purchased a new stake in Academy Sports and Outdoors in the 1st quarter valued at about $1,213,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Academy Sports and Outdoors by 3.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,472 shares of the company's stock worth $1,846,000 after purchasing an additional 1,257 shares during the last quarter. Bridgeway Capital Management LLC purchased a new stake in shares of Academy Sports and Outdoors during the 1st quarter worth approximately $2,914,000. Royal Bank of Canada increased its stake in shares of Academy Sports and Outdoors by 8.5% during the 1st quarter. Royal Bank of Canada now owns 59,775 shares of the company's stock worth $2,726,000 after purchasing an additional 4,665 shares during the last quarter. Finally, Baird Financial Group Inc. increased its stake in shares of Academy Sports and Outdoors by 3.7% during the 1st quarter. Baird Financial Group Inc. now owns 263,487 shares of the company's stock worth $12,018,000 after purchasing an additional 9,282 shares during the last quarter.

Academy Sports and Outdoors Stock Performance

ASO traded down $1.26 on Friday, hitting $46.77. The company's stock had a trading volume of 674,145 shares, compared to its average volume of 1,649,473. The company's 50 day simple moving average is $52.07 and its 200-day simple moving average is $46.28. The firm has a market cap of $3.12 billion, a P/E ratio of 8.75, a price-to-earnings-growth ratio of 0.97 and a beta of 1.30. Academy Sports and Outdoors, Inc. has a 12 month low of $33.34 and a 12 month high of $64.61. The company has a quick ratio of 0.33, a current ratio of 1.64 and a debt-to-equity ratio of 0.23.

Academy Sports and Outdoors (NASDAQ:ASO - Get Free Report) last released its quarterly earnings data 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 return on equity of 18.47% and a net margin of 6.21%.The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.38 billion. During the same period last year, the business posted $1.08 earnings per share. The firm's quarterly revenue was down .9% on a year-over-year basis. Analysts forecast that Academy Sports and Outdoors, Inc. will post 5.59 EPS for the current year.

Academy Sports and Outdoors Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Shareholders of record on Thursday, September 11th will be issued a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, September 11th. Academy Sports and Outdoors's dividend payout ratio (DPR) is presently 9.74%.

Insider Buying and Selling

In other Academy Sports and Outdoors news, Director Christopher Lee Turner sold 4,400 shares of the firm's stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $44.48, for a total value of $195,712.00. Following the completion of the transaction, the director directly owned 7,084 shares of the company's stock, valued at $315,096.32. This trade 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 this link. 3.62% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ASO shares. Evercore ISI raised their price target on shares of Academy Sports and Outdoors from $50.00 to $55.00 and gave the stock an "in-line" rating in a research note on Tuesday, August 26th. Cowen restated a "hold" rating on shares of Academy Sports and Outdoors in a research note on Wednesday, September 3rd. JPMorgan Chase & Co. raised their price target on shares of Academy Sports and Outdoors from $54.00 to $56.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 3rd. Loop Capital set a $65.00 price target on shares of Academy Sports and Outdoors in a research note on Monday, July 21st. Finally, Morgan Stanley cut their price objective on shares of 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. Nine investment analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target 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.