American Outdoor Brands, Inc. (NASDAQ:AOUT) Sees Significant Drop in Short Interest

American Outdoor Brands, Inc. (NASDAQ:AOUT) was the target of a significant decline in short interest in the month of July. As of July 31st, there was short interest totalling 55,000 shares, a decline of 32.1% from the July 15th total of 81,000 shares. Approximately 0.5% of the company’s shares are short sold. Based on an average daily trading volume, of 26,500 shares, the short-interest ratio is presently 2.1 days.

American Outdoor Brands Price Performance

AOUT remained flat at $8.95 during trading hours on Wednesday. The company had a trading volume of 1,157 shares, compared to its average volume of 29,891. The company’s 50-day moving average price is $8.74 and its 200-day moving average price is $8.52. American Outdoor Brands has a one year low of $7.19 and a one year high of $10.35. The firm has a market capitalization of $115.41 million, a price-to-earnings ratio of -9.42 and a beta of 0.37.

American Outdoor Brands (NASDAQ:AOUT) last issued its earnings results on Thursday, June 27th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.09). The company had revenue of $46.30 million for the quarter, compared to analysts’ expectations of $43.20 million. American Outdoor Brands had a negative net margin of 6.09% and a positive return on equity of 0.41%. During the same period in the prior year, the firm posted ($0.03) earnings per share. Sell-side analysts forecast that American Outdoor Brands will post 0.24 EPS for the current fiscal year.

Hedge Funds Weigh In On American Outdoor Brands

Institutional investors have recently modified their holdings of the stock. Confluence Investment Management LLC purchased a new position in American Outdoor Brands during the 1st quarter worth $2,314,000. Brandes Investment Partners LP increased its position in American Outdoor Brands by 26.0% during the 4th quarter. Brandes Investment Partners LP now owns 270,622 shares of the company’s stock valued at $2,273,000 after purchasing an additional 55,821 shares during the period. Diversified Investment Strategies LLC lifted its position in shares of American Outdoor Brands by 103.4% in the 1st quarter. Diversified Investment Strategies LLC now owns 60,000 shares of the company’s stock worth $528,000 after purchasing an additional 30,500 shares during the period. Gamco Investors INC. ET AL boosted its stake in shares of American Outdoor Brands by 9.2% during the first quarter. Gamco Investors INC. ET AL now owns 290,063 shares of the company’s stock valued at $2,553,000 after purchasing an additional 24,400 shares in the last quarter. Finally, Teton Advisors Inc. boosted its position in American Outdoor Brands by 6.1% during the 4th quarter. Teton Advisors Inc. now owns 181,000 shares of the company’s stock valued at $1,520,000 after acquiring an additional 10,362 shares in the last quarter. 49.87% of the stock is owned by hedge funds and other institutional investors.

About American Outdoor Brands

American Outdoor Brands, Inc provides outdoor products and accessories for rugged outdoor enthusiasts in the United States and internationally. It offers hunting, fishing, camping, shooting, and personal security and defense products. The company also provides shooting sports accessories products include rests, vaults, and other related accessories; outdoor lifestyle products, such as premium sportsmen knives and tools for fishing and hunting; land management tools for hunting preparedness; harvesting products for post-hunt or post-fishing activities; outdoor cooking products; and camping, survival, and emergency preparedness products.