Intech Investment Management LLC Acquires New Holdings in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Intech Investment Management LLC bought a new position in Academy Sports and Outdoors, Inc. (NASDAQ:ASO) during the 3rd quarter, HoldingsChannel reports. The firm bought 20,001 shares of the company’s stock, valued at approximately $1,167,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. CWM LLC increased its stake in Academy Sports and Outdoors by 4.6% during the 3rd quarter. CWM LLC now owns 4,480 shares of the company’s stock worth $261,000 after purchasing an additional 196 shares in the last quarter. Simmons Bank increased its position in shares of Academy Sports and Outdoors by 1.9% during the third quarter. Simmons Bank now owns 10,860 shares of the company’s stock worth $634,000 after acquiring an additional 200 shares in the last quarter. Daymark Wealth Partners LLC raised its holdings in shares of Academy Sports and Outdoors by 1.3% during the third quarter. Daymark Wealth Partners LLC now owns 15,403 shares of the company’s stock worth $899,000 after acquiring an additional 203 shares during the period. Trust Investment Advisors lifted its position in Academy Sports and Outdoors by 1.8% in the 2nd quarter. Trust Investment Advisors now owns 15,030 shares of the company’s stock valued at $800,000 after acquiring an additional 266 shares in the last quarter. Finally, Great Valley Advisor Group Inc. boosted its stake in Academy Sports and Outdoors by 3.6% in the 2nd quarter. Great Valley Advisor Group Inc. now owns 7,673 shares of the company’s stock worth $409,000 after purchasing an additional 269 shares during the period.

Insider Transactions at Academy Sports and Outdoors

In other news, Director Jeffrey C. Tweedy sold 1,200 shares of the business’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $62.00, for a total value of $74,400.00. Following the completion of the sale, the director now owns 8,906 shares of the company’s stock, valued at approximately $552,172. The trade was a 11.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.19% of the stock is owned by corporate insiders.

Academy Sports and Outdoors Stock Down 2.9 %

ASO stock opened at $48.01 on Wednesday. Academy Sports and Outdoors, Inc. has a 1-year low of $44.73 and a 1-year high of $75.73. The business’s 50 day simple moving average is $53.52 and its 200 day simple moving average is $53.77. The company has a current ratio of 1.66, a quick ratio of 0.41 and a debt-to-equity ratio of 0.25. The firm has a market capitalization of $3.38 billion, a PE ratio of 7.41, a PEG ratio of 0.90 and a beta of 1.37.

Academy Sports and Outdoors (NASDAQ:ASO) last released its quarterly earnings data on Tuesday, September 10th. The company reported $2.03 EPS for the quarter, beating the consensus estimate of $1.96 by $0.07. The firm had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.57 billion. Academy Sports and Outdoors had a net margin of 7.98% and a return on equity of 25.56%. The company’s quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.01 earnings per share. As a group, research analysts anticipate that Academy Sports and Outdoors, Inc. will post 6.01 EPS for the current year.

Academy Sports and Outdoors Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Thursday, September 19th were given a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Thursday, September 19th. Academy Sports and Outdoors’s payout ratio is 6.79%.

Analyst Ratings Changes

A number of brokerages have recently commented on ASO. JPMorgan Chase & Co. lowered Academy Sports and Outdoors from an “overweight” rating to a “neutral” rating and cut their price target for the company from $76.00 to $53.00 in a report on Monday, August 5th. Truist Financial downgraded Academy Sports and Outdoors from a “buy” rating to a “hold” rating and reduced their price target for the stock from $63.00 to $50.00 in a research report on Tuesday, November 19th. TD Cowen increased their target price on shares of Academy Sports and Outdoors from $54.00 to $56.00 and gave the stock a “hold” rating in a report on Wednesday, September 11th. Jefferies Financial Group cut their price target on shares of Academy Sports and Outdoors from $68.00 to $64.00 and set a “buy” rating on the stock in a research report on Wednesday, September 11th. Finally, Loop Capital reissued a “buy” rating and set a $77.00 price target on shares of Academy Sports and Outdoors in a research report on Wednesday, September 11th. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $61.57.

About Academy Sports and Outdoors

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.