Ameritas Investment Partners Inc. Decreases Position in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Ameritas Investment Partners Inc. cut its stake in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 2.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,218 shares of the company’s stock after selling 206 shares during the period. Ameritas Investment Partners Inc.’s holdings in Academy Sports and Outdoors were worth $488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ASO. SG Americas Securities LLC purchased a new position in Academy Sports and Outdoors during the 4th quarter worth $265,000. Raymond James & Associates increased its holdings in Academy Sports and Outdoors by 14.7% during the 4th quarter. Raymond James & Associates now owns 51,565 shares of the company’s stock worth $3,403,000 after purchasing an additional 6,615 shares during the period. Tectonic Advisors LLC purchased a new position in Academy Sports and Outdoors during the 4th quarter worth $565,000. Hunter Perkins Capital Management LLC boosted its position in Academy Sports and Outdoors by 47.0% during the 4th quarter. Hunter Perkins Capital Management LLC now owns 11,175 shares of the company’s stock valued at $738,000 after acquiring an additional 3,575 shares in the last quarter. Finally, Griffin Asset Management Inc. bought a new stake in Academy Sports and Outdoors during the 4th quarter valued at $293,000.

Academy Sports and Outdoors Stock Performance

ASO traded down $0.95 on Wednesday, reaching $54.14. 783,195 shares of the stock were exchanged, compared to its average volume of 1,467,396. The company’s 50-day moving average price is $53.94 and its 200 day moving average price is $60.88. Academy Sports and Outdoors, Inc. has a fifty-two week low of $42.83 and a fifty-two week high of $75.73. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.62 and a quick ratio of 0.41. The firm has a market capitalization of $3.90 billion, a PE ratio of 8.42, a PEG ratio of 0.93 and a beta of 1.34.

Academy Sports and Outdoors (NASDAQ:ASO) last issued its quarterly earnings results on Tuesday, June 11th. The company reported $1.08 EPS for the quarter, missing analysts’ consensus estimates of $1.19 by ($0.11). The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.38 billion. Academy Sports and Outdoors had a return on equity of 27.18% and a net margin of 8.17%. The business’s revenue was down 1.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.19 EPS. As a group, sell-side analysts forecast that Academy Sports and Outdoors, Inc. will post 6.35 EPS for the current fiscal year.

Academy Sports and Outdoors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Thursday, June 20th were paid a dividend of $0.11 per share. The ex-dividend date of this dividend was Thursday, June 20th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 0.81%. Academy Sports and Outdoors’s payout ratio is currently 6.73%.

Insider Buying and Selling at Academy Sports and Outdoors

In other Academy Sports and Outdoors news, Director Jeffrey C. Tweedy sold 625 shares of Academy Sports and Outdoors stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $54.25, for a total transaction of $33,906.25. Following the completion of the transaction, the director now owns 10,106 shares in the company, valued at approximately $548,250.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.19% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on ASO shares. Jefferies Financial Group started coverage on Academy Sports and Outdoors in a research report on Friday, April 12th. They set a “buy” rating and a $85.00 target price on the stock. Bank of America cut Academy Sports and Outdoors from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $75.00 to $63.00 in a research report on Tuesday, June 11th. Truist Financial lowered their price objective on Academy Sports and Outdoors from $75.00 to $73.00 and set a “buy” rating for the company in a research report on Monday, June 10th. Wells Fargo & Company reissued an “equal weight” rating and issued a $55.00 price objective (down previously from $80.00) on shares of Academy Sports and Outdoors in a research report on Wednesday, June 12th. Finally, Evercore ISI raised their price objective on Academy Sports and Outdoors from $60.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, June 20th. Five investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $67.87.

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.