Sterling Capital Management LLC Purchases Shares of 65,535 American Outdoor Brands Corp (AOBC)

Sterling Capital Management LLC purchased a new position in shares of American Outdoor Brands Corp (NASDAQ:AOBC) during the third quarter, Holdings Channel reports. The firm purchased 65,535 shares of the company’s stock, valued at approximately $1,018,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Dimensional Fund Advisors LP boosted its holdings in shares of American Outdoor Brands by 44.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,444,518 shares of the company’s stock worth $29,409,000 after acquiring an additional 751,236 shares during the period. Millennium Management LLC bought a new stake in shares of American Outdoor Brands during the second quarter worth approximately $16,241,000. Point72 Asset Management L.P. boosted its holdings in shares of American Outdoor Brands by 544.5% during the second quarter. Point72 Asset Management L.P. now owns 805,600 shares of the company’s stock worth $9,691,000 after acquiring an additional 680,600 shares during the period. Schwab Charles Investment Management Inc. boosted its holdings in shares of American Outdoor Brands by 16.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 592,568 shares of the company’s stock worth $7,129,000 after acquiring an additional 85,813 shares during the period. Finally, Davidson Kempner Capital Management LP bought a new stake in shares of American Outdoor Brands during the second quarter worth approximately $6,755,000. 63.10% of the stock is currently owned by hedge funds and other institutional investors.

Shares of AOBC stock opened at $13.52 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.60 and a quick ratio of 0.82. The company has a market capitalization of $751.66 million, a P/E ratio of 29.39 and a beta of 0.14. American Outdoor Brands Corp has a 1 year low of $8.32 and a 1 year high of $15.95.

American Outdoor Brands (NASDAQ:AOBC) last issued its quarterly earnings results on Thursday, August 30th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.09. The business had revenue of $138.83 million during the quarter, compared to analysts’ expectations of $138.00 million. American Outdoor Brands had a return on equity of 8.67% and a net margin of 4.85%. As a group, analysts predict that American Outdoor Brands Corp will post 0.67 earnings per share for the current year.

A number of equities research analysts have recently issued reports on the company. Zacks Investment Research cut American Outdoor Brands from a “buy” rating to a “hold” rating in a report on Tuesday. BidaskClub cut American Outdoor Brands from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. Craig Hallum cut American Outdoor Brands from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $15.00 to $13.00 in a report on Thursday, November 1st. ValuEngine upgraded American Outdoor Brands from a “sell” rating to a “hold” rating in a report on Saturday, September 1st. Finally, Cowen restated a “hold” rating and set a $12.00 price objective on shares of American Outdoor Brands in a report on Friday, August 31st. Five equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $14.60.

In related news, Director Robert H. Brust purchased 4,240 shares of the business’s stock in a transaction that occurred on Thursday, September 6th. The stock was acquired at an average cost of $14.83 per share, for a total transaction of $62,879.20. Following the completion of the purchase, the director now owns 12,366 shares in the company, valued at approximately $183,387.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director John B. Furman sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $14.50, for a total value of $145,000.00. Following the completion of the sale, the director now owns 32,834 shares of the company’s stock, valued at $476,093. The disclosure for this sale can be found here. Insiders own 2.47% of the company’s stock.

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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.

Further Reading: The risks of owning bonds

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Institutional Ownership by Quarter for American Outdoor Brands (NASDAQ:AOBC)

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