Escalade, Incorporated (NASDAQ:ESCA) Sees Large Increase in Short Interest

Escalade, Incorporated (NASDAQ:ESCA) was the target of a significant increase in short interest during the month of December. As of December 31st, there was short interest totaling 124,984 shares, an increase of 21.9% from the December 15th total of 102,568 shares. Based on an average daily volume of 21,042 shares, the days-to-cover ratio is presently 5.9 days. Approximately 1.3% of the company’s stock are short sold. Approximately 1.3% of the company’s stock are short sold. Based on an average daily volume of 21,042 shares, the days-to-cover ratio is presently 5.9 days.

Insider Transactions at Escalade

In related news, CFO Stephen Wawrin sold 2,000 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $13.00, for a total transaction of $26,000.00. Following the completion of the sale, the chief financial officer directly owned 41,000 shares of the company’s stock, valued at approximately $533,000. This trade represents a 4.65% 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. Also, Director Richard Fenton Baalmann, Jr. sold 5,490 shares of Escalade stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $13.00, for a total value of $71,370.00. Following the sale, the director owned 100,394 shares in the company, valued at $1,305,122. This trade represents a 5.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 12,000 shares of company stock valued at $156,100 over the last ninety days. 28.75% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Escalade

A number of large investors have recently modified their holdings of ESCA. Geode Capital Management LLC boosted its stake in shares of Escalade by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 221,456 shares of the company’s stock valued at $3,096,000 after purchasing an additional 4,455 shares in the last quarter. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of Escalade during the second quarter worth about $32,000. Raymond James Financial Inc. purchased a new stake in shares of Escalade during the second quarter worth about $29,000. Tower Research Capital LLC TRC grew its stake in shares of Escalade by 439.0% in the second quarter. Tower Research Capital LLC TRC now owns 3,622 shares of the company’s stock worth $51,000 after purchasing an additional 2,950 shares during the last quarter. Finally, Certior Financial Group LLC purchased a new position in Escalade during the 3rd quarter valued at about $141,000. 65.22% of the stock is owned by hedge funds and other institutional investors.

Escalade Trading Down 1.8%

Shares of ESCA opened at $13.80 on Wednesday. Escalade has a fifty-two week low of $11.41 and a fifty-two week high of $16.99. The business has a 50-day moving average of $13.21 and a 200 day moving average of $12.74. The firm has a market cap of $190.44 million, a P/E ratio of 15.17 and a beta of 0.69. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.41 and a current ratio of 3.30.

Escalade (NASDAQ:ESCA) last released its quarterly earnings data on Thursday, October 30th. The company reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.09. The business had revenue of $67.79 million during the quarter, compared to analyst estimates of $58.83 million. Escalade had a net margin of 5.26% and a return on equity of 7.49%. As a group, research analysts forecast that Escalade will post 0.93 EPS for the current year.

Escalade Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, January 12th. Shareholders of record on Monday, January 5th were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Monday, January 5th. Escalade’s dividend payout ratio is currently 65.93%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ESCA shares. Zacks Research raised Escalade from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Escalade from a “buy” rating to a “strong-buy” rating in a research report on Sunday. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Escalade in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Buy”.

About Escalade

Escalade, Inc is a U.S.-based manufacturer and distributor of recreational equipment and specialty products for both consumer and commercial markets. Headquartered in Evansville, Indiana, the company operates through two principal business segments: Sporting Goods and Commercial Products. The Sporting Goods segment encompasses a diverse range of products such as hockey and lacrosse goal assemblies, fitness accessories, archery and hunting gear, and table tennis equipment. The Commercial Products segment focuses on seating solutions for restaurants, hospitality venues and other public spaces under the Top Seat brand, as well as storage, display products and industrial carts.

Within Sporting Goods, Escalade markets its products under proprietary brands including Bear® Archery, Gene St.