Academy Sports and Outdoors: Short Interest Drops, Insider Activity, Stock Performance, Dividend Increase, and Analyst Ratings
Academy Sports and Outdoors, Inc. saw a large decrease in short interest in March, as insider activity, institutional trading, stock performance, dividend increase, and analyst ratings take center stage.
Short Interest Declines for Academy Sports and Outdoors
Academy Sports and Outdoors, Inc. (NASDAQ:ASO) experienced a significant decrease in short interest in March. As of March 15th, the total short interest was 7,690,000 shares, marking a 7.3% drop from the previous month. With an average daily volume of 1,330,000 shares, the short-interest ratio currently stands at 5.8 days. This represents about 10.5% of the company's shares being short sold.
Insider Activity at Academy Sports and Outdoors
In other news, Director Jeffrey C. Tweedy recently sold 1,065 shares of the stock in a transaction. The sale took place on January 2nd at an average price of $64.81 per share, totaling $69,022.65. Following the sale, Tweedy now holds 9,070 shares valued at $587,826.70. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Approximately 3.56% of the stock is owned by corporate insiders.
Institutional Trading Activity
A number of hedge funds and institutional investors have been actively trading Academy Sports and Outdoors stock. Verity Asset Management Inc., AQR Capital Management LLC, Gotham Asset Management LLC, Pearl River Capital LLC, and Jennison Associates LLC are among the notable entities that have bought and sold shares of the company.
Academy Sports and Outdoors Stock Performance
Shares of NASDAQ:ASO opened at $67.54 on Monday. The company's financial metrics include a quick ratio of 0.51, a current ratio of 1.87, and a debt-to-equity ratio of 0.25. The stock has a 52-week low of $42.83 and a high of $75.73. With a market capitalization of $5.02 billion, Academy Sports and Outdoors has a P/E ratio of 10.05 and a beta of 1.38.
Dividend Increase
Academy Sports and Outdoors recently announced an increase in its quarterly dividend. Stockholders of record on March 26th will receive a $0.11 dividend on April 18th. This represents a $0.44 annualized dividend and a dividend yield of 0.65%. The ex-dividend date is March 25th, with the company's dividend payout ratio currently at 6.55%.
Wall Street Analyst Ratings
Several analysts have provided their insights on ASO stock. Telsey Advisory Group lowered their price target to $75.00 and maintained an "outperform" rating for the company. Truist Financial reiterated a "buy" rating with a target price of $77.00, while Evercore ISI increased their price objective to $78.00 and rated the stock as "outperform." Robert W. Baird raised their target to $80.00 with an "outperform" rating, and B. Riley reiterated a "buy" rating with a target price of $72.00.
About Academy Sports and Outdoors
Academy Sports and Outdoors, Inc. operates as a sporting goods and outdoor retailer in the United States, offering a wide range of products for outdoor recreational activities such as camping, fishing, hunting, and more.
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