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

Verition Fund Management LLC increased its stake in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 203.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 514,017 shares of the company’s stock after acquiring an additional 344,466 shares during the quarter. Verition Fund Management LLC’s holdings in Academy Sports and Outdoors were worth $29,998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of ASO. Harbor Capital Advisors Inc. bought a new position in shares of Academy Sports and Outdoors during the third quarter valued at about $28,000. V Square Quantitative Management LLC purchased a new position in Academy Sports and Outdoors during the 3rd quarter valued at about $40,000. Farther Finance Advisors LLC raised its position in Academy Sports and Outdoors by 98.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 738 shares of the company’s stock valued at $43,000 after purchasing an additional 366 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in Academy Sports and Outdoors in the 3rd quarter worth approximately $58,000. Finally, Nisa Investment Advisors LLC grew its position in shares of Academy Sports and Outdoors by 53.7% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,205 shares of the company’s stock worth $70,000 after buying an additional 421 shares during the last quarter.

Academy Sports and Outdoors Stock Performance

Shares of ASO opened at $48.85 on Friday. The company has a quick ratio of 0.41, a current ratio of 1.66 and a debt-to-equity ratio of 0.25. The stock has a market cap of $3.43 billion, a P/E ratio of 7.54, a P/E/G ratio of 0.94 and a beta of 1.37. The business’s 50 day moving average price is $53.24 and its 200-day moving average price is $53.73. Academy Sports and Outdoors, Inc. has a 52 week low of $44.73 and a 52 week high of $75.73.

Academy Sports and Outdoors (NASDAQ:ASO) last released its earnings results on Tuesday, September 10th. The company reported $2.03 EPS for the quarter, topping the consensus estimate of $1.96 by $0.07. Academy Sports and Outdoors had a return on equity of 25.56% and a net margin of 7.98%. The business had revenue of $1.55 billion for the quarter, compared to the consensus estimate of $1.57 billion. During the same period in the previous year, the company posted $2.01 earnings per share. The company’s revenue for the quarter was down 2.2% compared to the same quarter last year. Equities research analysts anticipate that Academy Sports and Outdoors, Inc. will post 6.01 earnings per share for the current fiscal year.

Academy Sports and Outdoors Announces Dividend

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

Analyst Ratings Changes

A number of brokerages recently commented on ASO. TD Cowen upped their target price on Academy Sports and Outdoors from $54.00 to $56.00 and gave the company a “hold” rating in a report on Wednesday, September 11th. Jefferies Financial Group dropped their target price on shares of Academy Sports and Outdoors from $68.00 to $64.00 and set a “buy” rating for the company in a research report on Wednesday, September 11th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $65.00 target price on shares of Academy Sports and Outdoors in a research note on Thursday, September 5th. JPMorgan Chase & Co. downgraded shares of Academy Sports and Outdoors from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $76.00 to $53.00 in a research note on Monday, August 5th. Finally, Loop Capital reaffirmed a “buy” rating and set a $77.00 price objective 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 given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $61.57.

Insiders Place Their Bets

In other Academy Sports and Outdoors news, Director Jeffrey C. Tweedy sold 1,200 shares of the company’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $62.00, for a total transaction of $74,400.00. Following the completion of the sale, the director now directly owns 8,906 shares of the company’s stock, valued at approximately $552,172. This represents a 11.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.19% of the company’s stock.

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.