American Outdoor Brands, Inc. (NASDAQ:AOUT – Get Rating) was the target of a large growth in short interest in October. As of October 15th, there was short interest totalling 749,700 shares, a growth of 10.5% from the September 30th total of 678,700 shares. Approximately 6.5% of the company’s stock are sold short. Based on an average daily volume of 130,400 shares, the days-to-cover ratio is currently 5.7 days.
Insider Activity
In other news, Director Barry M. Monheit acquired 10,000 shares of American Outdoor Brands stock in a transaction dated Wednesday, September 14th. The shares were acquired at an average cost of $9.05 per share, for a total transaction of $90,500.00. Following the acquisition, the director now owns 29,790 shares of the company’s stock, valued at $269,599.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, Director Barry M. Monheit purchased 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 14th. The shares were purchased at an average cost of $9.05 per share, for a total transaction of $90,500.00. Following the purchase, the director now directly owns 29,790 shares of the company’s stock, valued at $269,599.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian Daniel Murphy purchased 11,333 shares of the business’s stock in a transaction that occurred on Monday, September 12th. The shares were bought at an average price of $8.95 per share, for a total transaction of $101,430.35. Following the completion of the purchase, the chief executive officer now directly owns 146,010 shares in the company, valued at $1,306,789.50. The disclosure for this purchase can be found here. In the last three months, insiders have bought 36,023 shares of company stock worth $324,676. 1.87% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On American Outdoor Brands
Institutional investors and hedge funds have recently bought and sold shares of the stock. Summit Global Investments purchased a new stake in American Outdoor Brands during the first quarter worth approximately $374,000. GSA Capital Partners LLP boosted its stake in shares of American Outdoor Brands by 10.2% in the first quarter. GSA Capital Partners LLP now owns 37,456 shares of the company’s stock valued at $492,000 after purchasing an additional 3,463 shares during the period. HighTower Advisors LLC boosted its stake in shares of American Outdoor Brands by 23.6% in the first quarter. HighTower Advisors LLC now owns 12,472 shares of the company’s stock valued at $163,000 after purchasing an additional 2,384 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of American Outdoor Brands by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,071,135 shares of the company’s stock valued at $14,064,000 after purchasing an additional 14,477 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of American Outdoor Brands by 13.5% in the first quarter. Vanguard Group Inc. now owns 786,678 shares of the company’s stock valued at $10,329,000 after purchasing an additional 93,460 shares during the period. Institutional investors and hedge funds own 64.68% of the company’s stock.
American Outdoor Brands Stock Up 0.3 %
Shares of NASDAQ AOUT opened at $8.96 on Friday. American Outdoor Brands has a 12-month low of $7.10 and a 12-month high of $25.26. The company has a market capitalization of $120.60 million, a PE ratio of -1.62 and a beta of 0.13. The company has a debt-to-equity ratio of 0.10, a current ratio of 6.09 and a quick ratio of 1.86. The firm’s 50-day moving average is $8.71 and its two-hundred day moving average is $9.80.
American Outdoor Brands (NASDAQ:AOUT – Get Rating) last announced its quarterly earnings results on Thursday, September 8th. The company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.06) by $0.02. The company had revenue of $43.70 million for the quarter, compared to the consensus estimate of $45.11 million. American Outdoor Brands had a negative net margin of 32.13% and a positive return on equity of 6.25%. The company’s revenue for the quarter was down 28.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.44 earnings per share. Equities analysts anticipate that American Outdoor Brands will post 0.53 EPS for the current fiscal year.
Analysts Set New Price Targets
AOUT has been the topic of several research analyst reports. Cowen cut their price target on shares of American Outdoor Brands from $23.00 to $11.00 in a research note on Tuesday, August 2nd. B. Riley upgraded shares of American Outdoor Brands from a “neutral” rating to a “buy” rating and set a $11.00 price objective on the stock in a research note on Tuesday, August 30th. Roth Capital initiated coverage on shares of American Outdoor Brands in a research note on Thursday, July 21st. They issued a “buy” rating and a $11.00 price objective on the stock. Lake Street Capital lowered their target price on shares of American Outdoor Brands from $20.00 to $14.00 in a report on Friday, September 9th. Finally, Cowen lowered their target price on shares of American Outdoor Brands from $23.00 to $11.00 in a report on Tuesday, August 2nd.
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.
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Read More: American Outdoor Brands, Inc. (NASDAQ:AOUT) Sees Significant Growth in Short Interest