Adirondack Research & Management Inc. Reduces Position in Vista Outdoor Inc. (VSTO)
Adirondack Research & Management Inc. lessened its holdings in Vista Outdoor Inc. (NYSE:VSTO) by 18.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 164,699 shares of the company’s stock after selling 38,000 shares during the quarter. Vista Outdoor makes up approximately 1.5% of Adirondack Research & Management Inc.’s investment portfolio, making the stock its 28th largest position. Adirondack Research & Management Inc. owned 0.29% of Vista Outdoor worth $3,778,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of VSTO. BlackRock Inc. increased its position in Vista Outdoor by 16,839.6% during the 1st quarter. BlackRock Inc. now owns 5,667,641 shares of the company’s stock valued at $116,698,000 after purchasing an additional 5,634,183 shares during the period. FMR LLC increased its position in Vista Outdoor by 70.0% during the 2nd quarter. FMR LLC now owns 6,894,441 shares of the company’s stock valued at $155,194,000 after purchasing an additional 2,838,686 shares during the period. Dimensional Fund Advisors LP increased its position in Vista Outdoor by 41.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,563,879 shares of the company’s stock valued at $80,224,000 after purchasing an additional 1,041,884 shares during the period. Southpoint Capital Advisors LP acquired a new stake in Vista Outdoor during the 2nd quarter valued at approximately $21,423,000. Finally, First Eagle Investment Management LLC increased its position in Vista Outdoor by 18.2% during the 2nd quarter. First Eagle Investment Management LLC now owns 5,523,517 shares of the company’s stock valued at $124,334,000 after purchasing an additional 852,195 shares during the period. Institutional investors and hedge funds own 99.97% of the company’s stock.
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A number of analysts have weighed in on the stock. Zacks Investment Research raised shares of Vista Outdoor from a “strong sell” rating to a “hold” rating in a research report on Friday. Cowen and Company reissued a “hold” rating and set a $14.50 target price on shares of Vista Outdoor in a research report on Monday, November 13th. Forward View downgraded shares of Vista Outdoor from a “hold” rating to a “sell” rating and set a $12.00 price objective for the company. in a research report on Monday, November 13th. KeyCorp reaffirmed a “hold” rating on shares of Vista Outdoor in a research report on Friday, November 10th. Finally, DA Davidson downgraded shares of Vista Outdoor from a “buy” rating to a “neutral” rating in a research report on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. Vista Outdoor presently has an average rating of “Hold” and an average price target of $23.40.
In related news, Director Tig H. Krekel acquired 3,000 shares of the company’s stock in a transaction on Monday, November 13th. The shares were acquired at an average cost of $13.33 per share, for a total transaction of $39,990.00. Following the purchase, the director now owns 7,684 shares in the company, valued at $102,427.72. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 1.50% of the stock is currently owned by company insiders.
Shares of Vista Outdoor Inc. (NYSE:VSTO) traded up $0.60 during trading hours on Friday, reaching $14.81. The company’s stock had a trading volume of 1,203,786 shares, compared to its average volume of 1,782,651. The company has a current ratio of 3.03, a quick ratio of 1.63 and a debt-to-equity ratio of 0.86. Vista Outdoor Inc. has a fifty-two week low of $12.35 and a fifty-two week high of $41.29. The company has a market cap of $848.97, a PE ratio of 12.04, a PEG ratio of 2.58 and a beta of -0.12.
Vista Outdoor (NYSE:VSTO) last issued its quarterly earnings data on Thursday, November 9th. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.07. Vista Outdoor had a positive return on equity of 5.76% and a negative net margin of 19.88%. The business had revenue of $587.00 million for the quarter, compared to analysts’ expectations of $588.85 million. During the same period last year, the business earned $0.74 EPS. The business’s revenue was down 14.2% on a year-over-year basis. equities research analysts forecast that Vista Outdoor Inc. will post 0.57 earnings per share for the current year.
About Vista Outdoor
Vista Outdoor Inc is a designer, manufacturer and marketer of consumer products in the outdoor sports and recreation markets. The Company operates through two segments: Shooting Sports and Outdoor Products. Its Shooting Sports segment designs, develops, produces and sources ammunition and firearms for the hunting and sport shooting enthusiast markets, as well as ammunition for local law enforcement, the United States Government and international markets.
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