American Outdoor Brands Corp (NASDAQ:AOBC) Sees Large Growth in Short Interest

American Outdoor Brands Corp (NASDAQ:AOBC) saw a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 2,298,200 shares, a growth of 5.4% from the May 30th total of 2,180,400 shares. Based on an average daily volume of 782,200 shares, the days-to-cover ratio is presently 2.9 days. Approximately 4.3% of the shares of the company are short sold.

A number of equities analysts recently issued reports on AOBC shares. Cowen reissued a “hold” rating and issued a $12.00 price objective on shares of American Outdoor Brands in a report on Wednesday, June 19th. Wedbush set a $190.00 price objective on Home Depot and gave the stock a “hold” rating in a report on Wednesday, May 22nd. Zacks Investment Research raised Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a report on Tuesday. ValuEngine lowered Wintrust Financial from a “sell” rating to a “strong sell” rating in a report on Wednesday. Finally, BidaskClub lowered Xencor from a “sell” rating to a “strong sell” rating in a report on Tuesday, June 11th. Two analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. American Outdoor Brands currently has a consensus rating of “Hold” and a consensus target price of $12.40.

In other news, Director Michael F. Golden sold 18,000 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $10.01, for a total transaction of $180,180.00. Following the completion of the transaction, the director now directly owns 256,432 shares of the company’s stock, valued at $2,566,884.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael F. Golden sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $10.01, for a total value of $200,200.00. Following the transaction, the director now directly owns 256,432 shares of the company’s stock, valued at $2,566,884.32. The disclosure for this sale can be found here. 2.47% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AOBC. Norges Bank acquired a new stake in shares of American Outdoor Brands during the 4th quarter valued at $11,304,000. BlackRock Inc. lifted its position in shares of American Outdoor Brands by 8.5% during the 4th quarter. BlackRock Inc. now owns 7,107,511 shares of the company’s stock valued at $91,403,000 after acquiring an additional 556,464 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of American Outdoor Brands by 10.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,538,240 shares of the company’s stock valued at $58,361,000 after acquiring an additional 442,078 shares during the last quarter. Deutsche Bank AG lifted its position in shares of American Outdoor Brands by 62.6% during the 4th quarter. Deutsche Bank AG now owns 1,144,341 shares of the company’s stock valued at $14,715,000 after acquiring an additional 440,688 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of American Outdoor Brands during the 1st quarter valued at $3,715,000. Hedge funds and other institutional investors own 66.63% of the company’s stock.

AOBC opened at $9.52 on Wednesday. The firm has a market capitalization of $499.79 million, a P/E ratio of 11.47 and a beta of 0.15. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.68 and a quick ratio of 1.21. American Outdoor Brands has a 1-year low of $8.19 and a 1-year high of $15.95. The business has a 50 day moving average price of $8.84.

American Outdoor Brands (NASDAQ:AOBC) last released its earnings results on Wednesday, June 19th. The company reported $0.26 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.10. The firm had revenue of $175.73 million during the quarter, compared to the consensus estimate of $168.99 million. American Outdoor Brands had a return on equity of 10.55% and a net margin of 2.88%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.24 earnings per share. As a group, research analysts predict that American Outdoor Brands will post 0.81 earnings per share for the current fiscal year.

American Outdoor Brands Company Profile

American Outdoor Brands Corporation designs, manufactures, and sells firearms worldwide. The company's Firearms segment offers handguns, long guns, handcuffs, suppressors, and other firearm-related products under the Smith & Wesson, M&P, Performance Center, Gemtech, and Thompson/Center Arms brands.

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