Escalade, Incorporated (NASDAQ:ESCA) Sees Large Increase in Short Interest

Escalade, Incorporated (NASDAQ:ESCA) was the target of a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 168,847 shares, an increase of 35.1% from the December 31st total of 124,984 shares. Currently, 1.7% of the company’s shares are short sold. Based on an average daily volume of 23,478 shares, the short-interest ratio is presently 7.2 days. Based on an average daily volume of 23,478 shares, the short-interest ratio is presently 7.2 days. Currently, 1.7% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

ESCA has been the subject of several recent analyst reports. Wall Street Zen cut Escalade from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Zacks Research lowered shares of Escalade from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 27th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Escalade in a research note on Thursday, January 22nd. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the company has an average rating of “Hold”.

Insider Activity

In related news, CFO Stephen Wawrin sold 2,000 shares of the business’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $13.00, for a total value of $26,000.00. Following the transaction, the chief financial officer owned 41,000 shares in the company, valued at $533,000. The trade was a 4.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard Fenton Baalmann, Jr. sold 5,490 shares of the stock in a transaction dated Thursday, December 11th. The stock was sold at an average price of $13.00, for a total value of $71,370.00. Following the sale, the director owned 100,394 shares of the company’s stock, valued at approximately $1,305,122. The trade was a 5.18% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 12,000 shares of company stock worth $156,100 over the last ninety days. Company insiders own 28.75% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Raymond James Financial Inc. bought a new stake in Escalade during the second quarter valued at $29,000. Police & Firemen s Retirement System of New Jersey bought a new position in Escalade during the 2nd quarter worth approximately $32,000. Tower Research Capital LLC TRC raised its holdings in Escalade by 439.0% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,622 shares of the company’s stock valued at $51,000 after buying an additional 2,950 shares during the last quarter. Certior Financial Group LLC bought a new position in shares of Escalade during the third quarter valued at about $141,000. Finally, JPMorgan Chase & Co. lifted its holdings in Escalade by 13.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 13,853 shares of the company’s stock worth $174,000 after buying an additional 1,600 shares during the period. 65.22% of the stock is owned by institutional investors.

Escalade Stock Up 2.2%

ESCA stock traded up $0.32 during mid-day trading on Monday, reaching $14.86. 22,743 shares of the company traded hands, compared to its average volume of 18,565. The company has a quick ratio of 1.41, a current ratio of 3.30 and a debt-to-equity ratio of 0.08. The firm’s 50 day moving average price is $13.49 and its 200 day moving average price is $12.77. The stock has a market cap of $205.07 million, a price-to-earnings ratio of 16.33 and a beta of 0.69. Escalade has a fifty-two week low of $11.41 and a fifty-two week high of $16.99.

Escalade (NASDAQ:ESCA) last announced its earnings results on Thursday, October 30th. The company reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.09. The company had revenue of $67.79 million for the quarter, compared to analysts’ expectations of $58.83 million. Escalade had a return on equity of 7.49% and a net margin of 5.26%. As a group, equities research analysts predict that Escalade will post 0.93 EPS for the current fiscal year.

Escalade Company Profile

Escalade, Inc is a U.S.-based manufacturer and distributor of recreational equipment and specialty products for both consumer and commercial markets. Headquartered in Evansville, Indiana, the company operates through two principal business segments: Sporting Goods and Commercial Products. The Sporting Goods segment encompasses a diverse range of products such as hockey and lacrosse goal assemblies, fitness accessories, archery and hunting gear, and table tennis equipment. The Commercial Products segment focuses on seating solutions for restaurants, hospitality venues and other public spaces under the Top Seat brand, as well as storage, display products and industrial carts.

Within Sporting Goods, Escalade markets its products under proprietary brands including Bear® Archery, Gene St.