Academy Sports and Outdoors, Inc. (NASDAQ:ASO) Sees Significant Decrease in Short Interest

Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Get Free Report) was the target of a large decrease in short interest in April. As of April 15th, there was short interest totalling 4,350,000 shares, a decrease of 7.2% from the March 31st total of 4,690,000 shares. Currently, 6.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,390,000 shares, the short-interest ratio is currently 3.1 days.

Analysts Set New Price Targets

ASO has been the subject of several research analyst reports. Wedbush reiterated an "outperform" rating and issued a $80.00 price objective on shares of Academy Sports and Outdoors in a research report on Monday, April 1st. Wells Fargo & Company reduced their price target on Academy Sports and Outdoors from $83.00 to $80.00 and set an "overweight" rating for the company in a research report on Thursday. TD Cowen cut their price objective on Academy Sports and Outdoors from $86.00 to $82.00 and set an "outperform" rating for the company in a report on Friday, March 22nd. Telsey Advisory Group cut their price objective on Academy Sports and Outdoors from $83.00 to $75.00 and set an "outperform" rating for the company in a report on Thursday, March 21st. Finally, B. Riley reissued a "buy" rating and issued a $72.00 price objective (up previously from $65.00) on shares of Academy Sports and Outdoors in a report on Monday, March 25th. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Academy Sports and Outdoors has an average rating of "Moderate Buy" and an average target price of $73.82.

Insider Buying and Selling

In other Academy Sports and Outdoors news, Director Jeffrey C. Tweedy sold 1,200 shares of the business's stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $60.00, for a total transaction of $72,000.00. Following the completion of the sale, the director now directly owns 7,870 shares of the company's stock, valued at approximately $472,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.19% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Academy Sports and Outdoors

A number of institutional investors and hedge funds have recently modified their holdings of the business. Jones Financial Companies Lllp purchased a new stake in Academy Sports and Outdoors in the 4th quarter valued at $26,000. Future Financial Wealth Managment LLC purchased a new stake in shares of Academy Sports and Outdoors during the 1st quarter valued at $68,000. EverSource Wealth Advisors LLC increased its position in shares of Academy Sports and Outdoors by 517.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,050 shares of the company's stock valued at $69,000 after purchasing an additional 880 shares during the last quarter. Kapitalo Investimentos Ltda purchased a new stake in shares of Academy Sports and Outdoors during the 4th quarter valued at $73,000. Finally, GAMMA Investing LLC purchased a new stake in shares of Academy Sports and Outdoors during the 4th quarter valued at $83,000.

Academy Sports and Outdoors Trading Up 0.1 %

Shares of Academy Sports and Outdoors stock traded up $0.04 on Monday, reaching $60.76. 1,310,554 shares of the company's stock were exchanged, compared to its average volume of 1,347,660. The company has a market capitalization of $4.48 billion, a P/E ratio of 9.04, a price-to-earnings-growth ratio of 0.89 and a beta of 1.35. Academy Sports and Outdoors has a 52 week low of $42.83 and a 52 week high of $75.73. The firm's 50-day moving average is $66.19 and its two-hundred day moving average is $60.10. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.51 and a current ratio of 1.87.

Academy Sports and Outdoors Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 18th. Shareholders of record on Tuesday, March 26th were issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.72%. This is a boost from Academy Sports and Outdoors's previous quarterly dividend of $0.09. The ex-dividend date of this dividend was Monday, March 25th. Academy Sports and Outdoors's dividend payout ratio is presently 6.55%.

Academy Sports and Outdoors Company 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.