Connor Clark & Lunn Investment Management Ltd. Invests $1.54 Million in Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Academy Sports and Outdoors, Inc. (NASDAQ:ASO) during the third quarter, Holdings Channel.com reports. The firm acquired 26,349 shares of the company’s stock, valued at approximately $1,538,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ASO. Harbor Capital Advisors Inc. acquired a new stake in shares of Academy Sports and Outdoors in the third quarter worth $28,000. V Square Quantitative Management LLC bought a new stake in Academy Sports and Outdoors during the third quarter valued at about $40,000. Farther Finance Advisors LLC boosted its holdings in Academy Sports and Outdoors by 98.4% during the third quarter. Farther Finance Advisors LLC now owns 738 shares of the company’s stock valued at $43,000 after acquiring an additional 366 shares during the period. Future Financial Wealth Managment LLC acquired a new stake in shares of Academy Sports and Outdoors in the third quarter valued at about $58,000. Finally, Nisa Investment Advisors LLC increased its stake in shares of Academy Sports and Outdoors by 53.7% in the third quarter. Nisa Investment Advisors LLC now owns 1,205 shares of the company’s stock worth $70,000 after purchasing an additional 421 shares during the period.

Insider Activity at Academy Sports and Outdoors

In other Academy Sports and Outdoors news, Director Jeffrey C. Tweedy sold 1,200 shares of the stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $62.00, for a total transaction of $74,400.00. Following the sale, the director now owns 8,906 shares of the company’s stock, valued at $552,172. This represents a 11.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.19% of the company’s stock.

Academy Sports and Outdoors Stock Performance

Academy Sports and Outdoors stock opened at $48.01 on Wednesday. The firm has a market capitalization of $3.38 billion, a P/E ratio of 7.41, a P/E/G ratio of 0.90 and a beta of 1.37. The stock has a fifty day moving average price of $53.52 and a two-hundred day moving average price of $53.77. Academy Sports and Outdoors, Inc. has a 52-week low of $44.73 and a 52-week 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 earnings results on Tuesday, September 10th. The company reported $2.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.96 by $0.07. The business had revenue of $1.55 billion during the quarter, compared to analysts’ expectations of $1.57 billion. Academy Sports and Outdoors had a net margin of 7.98% and a return on equity of 25.56%. The firm’s revenue for the quarter was down 2.2% on a year-over-year basis. During the same quarter last year, the company posted $2.01 EPS. As a group, analysts anticipate that Academy Sports and Outdoors, Inc. will post 6.01 EPS for the current fiscal year.

Academy Sports and Outdoors Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, September 19th were given 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 0.92%. Academy Sports and Outdoors’s dividend payout ratio (DPR) is presently 6.79%.

Wall Street Analyst Weigh In

Several brokerages have commented on ASO. Loop Capital reaffirmed a “buy” rating and issued a $77.00 price target on shares of Academy Sports and Outdoors in a research report on Wednesday, September 11th. Wells Fargo & Company upped their target price on shares of 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. Truist Financial lowered shares of Academy Sports and Outdoors from a “buy” rating to a “hold” rating and cut their price objective for the company from $63.00 to $50.00 in a research report on Tuesday, November 19th. JPMorgan Chase & Co. downgraded Academy Sports and Outdoors from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $76.00 to $53.00 in a research report on Monday, August 5th. Finally, 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. Eight investment 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 currently has an average rating of “Hold” and a consensus target price of $61.57.

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.