Magnetar Financial LLC Acquires New Position in Columbia Sportswear (NASDAQ:COLM)

Magnetar Financial LLC purchased a new position in Columbia Sportswear (NASDAQ:COLM) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 5,333 shares of the textile maker’s stock, valued at approximately $448,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Signaturefd LLC boosted its stake in Columbia Sportswear by 18.4% in the 4th quarter. Signaturefd LLC now owns 915 shares of the textile maker’s stock worth $77,000 after purchasing an additional 142 shares during the period. Cairn Investment Group Inc. boosted its stake in Columbia Sportswear by 0.3% in the 4th quarter. Cairn Investment Group Inc. now owns 44,685 shares of the textile maker’s stock worth $3,750,000 after purchasing an additional 145 shares during the period. Amalgamated Bank boosted its stake in Columbia Sportswear by 1.0% in the 4th quarter. Amalgamated Bank now owns 15,337 shares of the textile maker’s stock worth $1,287,000 after purchasing an additional 146 shares during the period. GAMMA Investing LLC raised its holdings in shares of Columbia Sportswear by 43.2% during the 4th quarter. GAMMA Investing LLC now owns 600 shares of the textile maker’s stock worth $50,000 after acquiring an additional 181 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Columbia Sportswear by 184.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 299 shares of the textile maker’s stock worth $25,000 after acquiring an additional 194 shares in the last quarter. 47.76% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Ronald E. Nelson sold 6,395 shares of the stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $81.74, for a total transaction of $522,727.30. Following the transaction, the director now owns 17,048 shares of the company’s stock, valued at approximately $1,393,503.52. This represents a 27.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Richelle T. Luther sold 4,000 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $92.36, for a total value of $369,440.00. Following the transaction, the executive vice president now directly owns 14,283 shares in the company, valued at $1,319,177.88. The trade was a 21.88 % decrease in their position. The disclosure for this sale can be found here. Insiders own 44.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on COLM shares. StockNews.com cut Columbia Sportswear from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. TD Cowen upped their price objective on Columbia Sportswear from $70.00 to $84.00 and gave the stock a “hold” rating in a report on Tuesday, November 26th. Finally, Stifel Nicolaus upped their price objective on Columbia Sportswear from $92.00 to $100.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th.

Columbia Sportswear Stock Performance

NASDAQ:COLM opened at $76.57 on Friday. The stock’s fifty day moving average is $84.39 and its 200 day moving average is $83.75. Columbia Sportswear has a fifty-two week low of $73.04 and a fifty-two week high of $92.88. The firm has a market capitalization of $4.24 billion, a PE ratio of 19.79, a PEG ratio of 2.54 and a beta of 0.90.

Columbia Sportswear (NASDAQ:COLM) last released its earnings results on Tuesday, February 4th. The textile maker reported $1.80 earnings per share for the quarter, missing analysts’ consensus estimates of $1.86 by ($0.06). Columbia Sportswear had a return on equity of 12.23% and a net margin of 6.63%. Equities analysts forecast that Columbia Sportswear will post 4.1 EPS for the current year.

Columbia Sportswear Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 21st. Shareholders of record on Monday, March 10th were paid a $0.30 dividend. The ex-dividend date of this dividend was Monday, March 10th. This represents a $1.20 dividend on an annualized basis and a yield of 1.57%. Columbia Sportswear’s payout ratio is 31.01%.

Columbia Sportswear Company Profile

Columbia Sportswear Company, together with its subsidiaries, designs, develops, markets, and distributes outdoor, active, and everyday lifestyle apparel, footwear, accessories, and equipment in the United States, Latin America, the Asia Pacific, Europe, the Middle East, Africa, and Canada. The company provides apparel, accessories, and equipment for hiking, trail running, snow, fishing, hunting, mountaineering, climbing, skiing and snowboarding, trail, and outdoor activities.