Weiss Asset Management LP Invests $1.68 Million in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Weiss Asset Management LP purchased a new stake in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 28,762 shares of the company's stock, valued at approximately $1,679,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tabor Asset Management LP grew its stake in Academy Sports and Outdoors by 168.5% during the third quarter. Tabor Asset Management LP now owns 100,838 shares of the company's stock worth $5,885,000 after buying an additional 63,288 shares during the period. Polar Asset Management Partners Inc. acquired a new position in shares of Academy Sports and Outdoors during the 3rd quarter valued at $6,811,000. Ingalls & Snyder LLC acquired a new stake in Academy Sports and Outdoors in the 3rd quarter valued at $1,456,000. HighTower Advisors LLC raised its position 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 purchasing an additional 323 shares during the period. Finally, Paloma Partners Management Co acquired a new position in shares of Academy Sports and Outdoors during the third quarter worth about $588,000.

Academy Sports and Outdoors Stock Performance

Shares of NASDAQ ASO traded up $1.10 during trading on Friday, reaching $50.40. The stock had a trading volume of 1,982,716 shares, compared to its average volume of 1,448,086. The firm's 50 day moving average price is $51.75 and its two-hundred day moving average price is $53.48. Academy Sports and Outdoors, Inc. has a one year low of $44.73 and a one year high of $75.73. The stock has a market cap of $3.54 billion, a PE ratio of 7.78, a P/E/G ratio of 0.95 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 - Get Free Report) last issued its earnings results on Tuesday, September 10th. The company reported $2.03 earnings per share for the quarter, topping analysts' consensus estimates of $1.96 by $0.07. Academy Sports and Outdoors had a net margin of 7.98% and a return on equity of 25.56%. The company had revenue of $1.55 billion for the quarter, compared to analysts' expectations of $1.57 billion. During the same period in the prior year, the company earned $2.01 earnings per share. The firm's revenue was down 2.2% compared to the same quarter last year. On average, research analysts forecast that Academy Sports and Outdoors, Inc. will post 6 earnings per share for the current fiscal year.

Academy Sports and Outdoors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Wednesday, December 18th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Wednesday, December 18th. Academy Sports and Outdoors's dividend payout ratio (DPR) is 6.79%.

Analyst Ratings Changes

Several brokerages recently commented on ASO. Morgan Stanley reiterated 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. Truist Financial lowered shares of Academy Sports and Outdoors from a "buy" rating to a "hold" rating and dropped their price objective for the company from $63.00 to $50.00 in a research note on Tuesday, November 19th. Telsey Advisory Group decreased their target price on shares of Academy Sports and Outdoors from $65.00 to $60.00 and set an "outperform" rating for the company in a research note on Thursday. Jefferies Financial Group dropped 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 note on Wednesday, September 11th. Finally, TD Cowen upped their price objective on shares of Academy Sports and Outdoors from $54.00 to $56.00 and gave the company a "hold" rating in a research report on Wednesday, September 11th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Academy Sports and Outdoors presently has an average rating of "Hold" and a consensus price target of $61.21.

Insider Buying and Selling

In other news, Director Jeffrey C. Tweedy sold 1,200 shares of the business's stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $62.00, for a total transaction of $74,400.00. Following the completion of the transaction, the director now directly owns 8,906 shares in the company, valued at approximately $552,172. The trade was a 11.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.19% of the stock is owned by company insiders.

Academy Sports and Outdoors Profile

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.