Verition Fund Management LLC Buys 344,466 Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Verition Fund Management LLC raised its position in Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 203.2% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 514,017 shares of the company’s stock after acquiring an additional 344,466 shares during the period. Verition Fund Management LLC owned approximately 0.73% of Academy Sports and Outdoors worth $29,998,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC lifted its position in shares of Academy Sports and Outdoors by 4.6% during the third quarter. CWM LLC now owns 4,480 shares of the company’s stock valued at $261,000 after purchasing an additional 196 shares in the last quarter. Simmons Bank lifted its position in shares of Academy Sports and Outdoors by 1.9% during the 3rd quarter. Simmons Bank now owns 10,860 shares of the company’s stock worth $634,000 after buying an additional 200 shares in the last quarter. Daymark Wealth Partners LLC boosted its stake in shares of Academy Sports and Outdoors by 1.3% in the 3rd quarter. Daymark Wealth Partners LLC now owns 15,403 shares of the company’s stock worth $899,000 after buying an additional 203 shares during the last quarter. Trust Investment Advisors grew its holdings in shares of Academy Sports and Outdoors by 1.8% in the second quarter. Trust Investment Advisors now owns 15,030 shares of the company’s stock valued at $800,000 after acquiring an additional 266 shares in the last quarter. Finally, Great Valley Advisor Group Inc. grew its holdings in shares of Academy Sports and Outdoors by 3.6% in the second quarter. Great Valley Advisor Group Inc. now owns 7,673 shares of the company’s stock valued at $409,000 after acquiring an additional 269 shares in the last quarter.

Academy Sports and Outdoors Stock Up 1.7 %

Academy Sports and Outdoors stock opened at $48.85 on Friday. The firm has a market capitalization of $3.43 billion, a price-to-earnings ratio of 7.54, a P/E/G ratio of 0.94 and a beta of 1.37. The firm has a 50 day simple moving average of $53.24 and a 200 day simple moving average of $53.73. Academy Sports and Outdoors, Inc. has a 1-year low of $44.73 and a 1-year high of $75.73. The company has a current ratio of 1.66, a quick ratio of 0.41 and a debt-to-equity ratio of 0.25.

Academy Sports and Outdoors (NASDAQ:ASO) last announced its quarterly earnings results on Tuesday, September 10th. The company reported $2.03 earnings per share for the quarter, beating the consensus estimate of $1.96 by $0.07. The company had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Academy Sports and Outdoors had a return on equity of 25.56% and a net margin of 7.98%. The firm’s quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.01 earnings per share. On average, analysts predict that Academy Sports and Outdoors, Inc. will post 6.01 earnings per share for the current year.

Academy Sports and Outdoors Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Stockholders of record on Thursday, September 19th were issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend was Thursday, September 19th. Academy Sports and Outdoors’s payout ratio is 6.79%.

Insider Activity

In other news, Director Jeffrey C. Tweedy sold 1,200 shares of the business’s stock in a transaction dated 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 owns 8,906 shares of the company’s stock, valued at approximately $552,172. The trade was a 11.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.19% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Telsey Advisory Group reissued an “outperform” rating and issued a $65.00 price objective on shares of Academy Sports and Outdoors in a research report on Thursday, September 5th. Evercore ISI downgraded shares of Academy Sports and Outdoors from an “outperform” rating to an “in-line” rating and cut their price target for the stock from $65.00 to $60.00 in a report on Thursday, October 3rd. Truist Financial downgraded shares of Academy Sports and Outdoors from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $63.00 to $50.00 in a report on Tuesday, November 19th. JPMorgan Chase & Co. cut shares of Academy Sports and Outdoors from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $76.00 to $53.00 in a research note on Monday, August 5th. Finally, Loop Capital reissued a “buy” rating and set a $77.00 target price on shares of Academy Sports and Outdoors in a research report on Wednesday, September 11th. Eight investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $61.57.

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.