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

Academy Sports and Outdoors, Inc. (NASDAQ:ASO) saw a significant drop in short interest in February. As of February 27th, there was short interest totaling 6,039,004 shares, a drop of 27.0% from the February 12th total of 8,270,902 shares. Approximately 9.4% of the company’s shares are short sold. Based on an average daily volume of 1,251,787 shares, the days-to-cover ratio is presently 4.8 days. Based on an average daily volume of 1,251,787 shares, the days-to-cover ratio is presently 4.8 days. Approximately 9.4% of the company’s shares are short sold.

Academy Sports and Outdoors Stock Up 1.5%

ASO stock opened at $56.34 on Friday. Academy Sports and Outdoors has a 1-year low of $33.34 and a 1-year high of $62.44. The business’s 50 day simple moving average is $57.98 and its 200 day simple moving average is $52.51. The company has a current ratio of 1.71, a quick ratio of 0.32 and a debt-to-equity ratio of 0.22. The firm has a market capitalization of $3.76 billion, a PE ratio of 10.30, a PEG ratio of 0.98 and a beta of 1.23.

Academy Sports and Outdoors Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Friday, March 20th will be issued a $0.15 dividend. This is an increase from Academy Sports and Outdoors’s previous quarterly dividend of $0.13. This represents a $0.60 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Friday, March 20th. Academy Sports and Outdoors’s dividend payout ratio is presently 10.97%.

Insider Activity

In other news, Director Brian T. Marley sold 3,500 shares of the business’s stock in a transaction on Monday, December 15th. The shares were sold at an average price of $55.01, for a total value of $192,535.00. Following the completion of the transaction, the director owned 39,107 shares of the company’s stock, valued at $2,151,276.07. The trade was a 8.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 3.62% of the stock is owned by company insiders.

Hedge Funds Weigh In On Academy Sports and Outdoors

Large investors have recently modified their holdings of the stock. Royal Bank of Canada lifted 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 buying an additional 4,665 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Academy Sports and Outdoors by 3.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 40,472 shares of the company’s stock valued at $1,846,000 after buying an additional 1,257 shares during the last quarter. United Services Automobile Association acquired a new position in Academy Sports and Outdoors in the 1st quarter valued at about $223,000. Strs Ohio bought a new position in Academy Sports and Outdoors in the 1st quarter valued at about $128,000. Finally, Los Angeles Capital Management LLC lifted its position in Academy Sports and Outdoors by 8.0% during the second quarter. Los Angeles Capital Management LLC now owns 6,082 shares of the company’s stock worth $273,000 after acquiring an additional 450 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several analysts recently commented on ASO shares. UBS Group raised their price objective on Academy Sports and Outdoors from $54.00 to $60.00 and gave the stock a “neutral” rating in a research note on Tuesday. Morgan Stanley increased their price target on Academy Sports and Outdoors from $52.00 to $55.00 and gave the stock an “equal weight” rating in a report on Thursday, January 15th. Bank of America raised their price target on Academy Sports and Outdoors from $55.00 to $58.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 10th. Barclays lifted their price objective on Academy Sports and Outdoors from $51.00 to $59.00 and gave the company an “equal weight” rating in a report on Wednesday, December 10th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $65.00 price objective on shares of Academy Sports and Outdoors in a research report on Friday, January 2nd. Ten analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $60.22.

Academy Sports and Outdoors Company Profile

Academy Sports and Outdoors is a leading specialty retailer of sporting goods and outdoor gear, operating more than 260 stores across the United States. Headquartered in Katy, Texas, the company offers a broad assortment of merchandise spanning athletic footwear and apparel, team sports equipment, camping and outdoor recreation products, hunting and fishing supplies, and fitness accessories. In addition to its brick-and-mortar footprint, Academy serves customers through its e-commerce platform, offering online ordering, in-store pickup, and home delivery options.

The company’s product portfolio includes seasonal and year-round categories designed to meet the needs of both casual enthusiasts and serious athletes.