Columbia Sportswear (COLM) Sees Large Growth in Short Interest

Columbia Sportswear (NASDAQ:COLM) was the target of a significant increase in short interest in March. As of March 15th, there was short interest totalling 1,016,947 shares, an increase of 42.7% from the February 28th total of 712,538 shares. Based on an average daily trading volume, of 336,264 shares, the days-to-cover ratio is presently 3.0 days. Currently, 3.5% of the shares of the company are sold short.

A number of equities research analysts have weighed in on the company. Citigroup assumed coverage on Columbia Sportswear in a report on Tuesday, April 16th. They set a “buy” rating on the stock. Wedbush lifted their price objective on Columbia Sportswear from $111.00 to $113.00 and gave the company an “outperform” rating in a report on Thursday, April 11th. BidaskClub downgraded Columbia Sportswear from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Cowen set a $118.00 price objective on Columbia Sportswear and gave the company a “buy” rating in a report on Friday, February 8th. Finally, Macquarie set a $118.00 price objective on Columbia Sportswear and gave the company a “buy” rating in a report on Friday, February 8th. Six investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $107.13.

In related news, EVP Franco Fogliato sold 8,893 shares of Columbia Sportswear stock in a transaction dated Monday, February 11th. The stock was sold at an average price of $107.60, for a total transaction of $956,886.80. Following the sale, the executive vice president now directly owns 16,944 shares of the company’s stock, valued at $1,823,174.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Joseph P. Boyle sold 2,050 shares of Columbia Sportswear stock in a transaction dated Friday, April 5th. The stock was sold at an average price of $106.00, for a total value of $217,300.00. Following the sale, the executive vice president now directly owns 2,302,762 shares in the company, valued at $244,092,772. The disclosure for this sale can be found here. Over the last three months, insiders have sold 84,535 shares of company stock worth $8,929,236. 56.68% of the stock is owned by company insiders.

A number of hedge funds have recently bought and sold shares of COLM. Nkcfo LLC bought a new stake in shares of Columbia Sportswear during the 1st quarter valued at $344,000. Wedbush Securities Inc. acquired a new position in shares of Columbia Sportswear during the 1st quarter worth approximately $260,000. Quantitative Systematic Strategies LLC acquired a new position in shares of Columbia Sportswear during the 1st quarter worth approximately $1,551,000. Sciencast Management LP acquired a new position in shares of Columbia Sportswear during the 1st quarter worth approximately $457,000. Finally, Thompson Rubinstein Investment Management Inc. OR acquired a new position in shares of Columbia Sportswear during the 1st quarter worth approximately $238,000. Hedge funds and other institutional investors own 38.01% of the company’s stock.

Shares of NASDAQ:COLM traded up $0.18 during trading on Friday, reaching $103.18. The stock had a trading volume of 247,284 shares, compared to its average volume of 303,614. Columbia Sportswear has a 52 week low of $78.82 and a 52 week high of $109.74. The stock has a market capitalization of $7.05 billion, a P/E ratio of 25.73, a price-to-earnings-growth ratio of 2.14 and a beta of 0.68.

Columbia Sportswear (NASDAQ:COLM) last posted its earnings results on Thursday, February 7th. The textile maker reported $1.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.41. Columbia Sportswear had a net margin of 9.57% and a return on equity of 16.79%. The company had revenue of $917.60 million during the quarter, compared to analysts’ expectations of $859.06 million. During the same quarter in the previous year, the company posted $1.31 earnings per share. Columbia Sportswear’s quarterly revenue was up 18.2% compared to the same quarter last year. On average, analysts anticipate that Columbia Sportswear will post 4.43 earnings per share for the current fiscal year.

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Columbia Sportswear Company Profile

Columbia Sportswear Company, together with its subsidiaries, designs, sources, markets, and distributes outdoor and active lifestyle apparel, footwear, accessories, and equipment in the United States, Latin America, the Asia Pacific, Europe, the Middle East and Africa, and Canada. The company provides apparel, accessories, and equipment that are used various outdoor activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, trail running, water sports, yoga, golf, and adventure travel for men and women under the Columbia, Mountain Hardwear, SOREL, and prAna brands, as well as for youth under the Columbia brand name.

Further Reading: Quiet Period Expirations

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