Cerity Partners LLC Acquires 65,220 Shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Cerity Partners LLC increased its holdings in shares of Academy Sports and Outdoors, Inc. (NASDAQ:ASO) by 127.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 116,264 shares of the company’s stock after purchasing an additional 65,220 shares during the quarter. Cerity Partners LLC owned approximately 0.17% of Academy Sports and Outdoors worth $6,785,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ASO. Harbor Capital Advisors Inc. purchased a new stake in Academy Sports and Outdoors in the 3rd quarter worth $28,000. V Square Quantitative Management LLC bought a new position in Academy Sports and Outdoors during the third quarter valued at approximately $40,000. Farther Finance Advisors LLC grew its holdings 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 buying an additional 366 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in Academy Sports and Outdoors in the 3rd quarter worth approximately $58,000. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Academy Sports and Outdoors by 53.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,205 shares of the company’s stock worth $70,000 after acquiring an additional 421 shares in the last quarter.

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 on 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 sale, the director now owns 8,906 shares in the company, valued at $552,172. This represents a 11.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.19% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ASO has been the topic of several research reports. Telsey Advisory Group restated an “outperform” rating and issued a $65.00 price target on shares of Academy Sports and Outdoors in a research report on Thursday, September 5th. Wedbush reaffirmed an “outperform” rating and issued a $65.00 price target on shares of Academy Sports and Outdoors in a report on Wednesday, September 11th. Loop Capital reissued a “buy” rating and set a $77.00 price objective on shares of Academy Sports and Outdoors in a research note on Wednesday, September 11th. Wells Fargo & Company raised their price objective on Academy Sports and Outdoors from $46.00 to $51.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 11th. Finally, JPMorgan Chase & Co. downgraded Academy Sports and Outdoors from an “overweight” rating to a “neutral” rating and cut their target price for the company from $76.00 to $53.00 in a research report on Monday, August 5th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $61.57.

Academy Sports and Outdoors Price Performance

Academy Sports and Outdoors stock opened at $48.85 on Thursday. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of 7.54, a price-to-earnings-growth ratio of 0.95 and a beta of 1.37. The firm has a 50-day moving average of $53.24 and a two-hundred day 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 debt-to-equity ratio of 0.25, a current ratio of 1.66 and a quick ratio of 0.41.

Academy Sports and Outdoors (NASDAQ:ASO) last announced its quarterly earnings data on Tuesday, September 10th. The company reported $2.03 earnings per share (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 company had revenue of $1.55 billion for the quarter, compared to analysts’ expectations of $1.57 billion. During the same quarter in the prior year, the firm earned $2.01 earnings per share. Academy Sports and Outdoors’s revenue was down 2.2% compared to the same quarter last year. On average, research analysts forecast that Academy Sports and Outdoors, Inc. will post 6.01 earnings per share for the current year.

Academy Sports and Outdoors Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 17th. Shareholders of record on Thursday, September 19th were issued a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a 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%.

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.