Ingalls & Snyder LLC Buys Shares of 24,946 Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Ingalls & Snyder LLC purchased a new position in Academy Sports and Outdoors, Inc. (NASDAQ:ASO) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 24,946 shares of the company’s stock, valued at approximately $1,456,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in ASO. HighTower Advisors LLC increased its stake in Academy Sports and Outdoors by 6.2% in the third quarter. HighTower Advisors LLC now owns 5,553 shares of the company’s stock valued at $324,000 after acquiring an additional 323 shares during the last quarter. Paloma Partners Management Co purchased a new position in shares of Academy Sports and Outdoors in the 3rd quarter worth about $588,000. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in shares of Academy Sports and Outdoors by 45.8% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 244,749 shares of the company’s stock valued at $14,284,000 after purchasing an additional 76,859 shares during the last quarter. Edgestream Partners L.P. purchased a new position in shares of Academy Sports and Outdoors during the 3rd quarter valued at about $874,000. Finally, Verition Fund Management LLC lifted its position in Academy Sports and Outdoors by 203.2% in the 3rd quarter. Verition Fund Management LLC now owns 514,017 shares of the company’s stock worth $29,998,000 after buying an additional 344,466 shares during the last quarter.

Academy Sports and Outdoors Price Performance

ASO opened at $49.96 on Wednesday. The stock’s 50 day moving average price is $52.33 and its 200-day moving average price is $53.56. Academy Sports and Outdoors, Inc. has a 52-week low of $44.73 and a 52-week high of $75.73. The stock has a market capitalization of $3.51 billion, a PE ratio of 7.71, a price-to-earnings-growth ratio of 0.97 and a beta of 1.31. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.41 and a current ratio of 1.66.

Academy Sports and Outdoors (NASDAQ:ASO) last issued its quarterly earnings data on Tuesday, September 10th. The company reported $2.03 EPS for the quarter, topping the consensus estimate of $1.96 by $0.07. The business had revenue of $1.55 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the prior year, the business earned $2.01 EPS. On average, equities research analysts predict 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. Shareholders of record on Thursday, September 19th were issued a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, September 19th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.88%. Academy Sports and Outdoors’s dividend payout ratio (DPR) is 6.79%.

Wall Street Analyst Weigh In

A number of research analysts have commented on ASO shares. Wedbush reiterated an “outperform” rating and set a $65.00 price target on shares of Academy Sports and Outdoors in a research report on Wednesday, September 11th. Morgan Stanley reaffirmed an “equal weight” rating and set a $60.00 target price on shares of Academy Sports and Outdoors in a report on Wednesday, September 11th. Evercore ISI lowered shares of Academy Sports and Outdoors from an “outperform” rating to an “in-line” rating and cut their price target for the company from $65.00 to $60.00 in a research report on Thursday, October 3rd. Truist Financial cut Academy Sports and Outdoors from a “buy” rating to a “hold” rating and reduced their price objective for the company from $63.00 to $50.00 in a research note on Tuesday, November 19th. Finally, Loop Capital reissued a “buy” rating and issued a $77.00 target price on shares of Academy Sports and Outdoors in a research note on Wednesday, September 11th. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Academy Sports and Outdoors currently has an average rating of “Hold” and a consensus price target of $61.57.

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 on Wednesday, September 18th. The shares were sold at an average price of $62.00, for a total transaction of $74,400.00. Following the sale, the director now owns 8,906 shares in the company, valued at approximately $552,172. The trade was a 11.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.19% of the company’s stock.

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.