Peregrine Capital Management LLC lowered its position in American Outdoor Brands Corporation (NASDAQ:AOBC) by 30.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 299,666 shares of the company’s stock after selling 128,806 shares during the period. Peregrine Capital Management LLC owned about 0.56% of American Outdoor Brands Corporation worth $6,641,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Great West Life Assurance Co. Can purchased a new position in shares of American Outdoor Brands Corporation during the first quarter worth about $105,000. Envestnet Asset Management Inc. purchased a new position in shares of American Outdoor Brands Corporation during the first quarter worth about $107,000. O Shaughnessy Asset Management LLC bought a new stake in American Outdoor Brands Corporation during the first quarter worth approximately $108,000. PNC Financial Services Group Inc. bought a new stake in American Outdoor Brands Corporation during the first quarter worth approximately $110,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new stake in American Outdoor Brands Corporation during the first quarter worth approximately $111,000. Institutional investors and hedge funds own 71.93% of the company’s stock.
Shares of American Outdoor Brands Corporation (NASDAQ AOBC) traded up 0.16% during mid-day trading on Friday, hitting $19.20. 691,165 shares of the company’s stock traded hands. American Outdoor Brands Corporation has a 1-year low of $17.50 and a 1-year high of $30.08. The stock has a 50 day moving average price of $21.17 and a 200-day moving average price of $21.10. The stock has a market cap of $1.03 billion, a P/E ratio of 8.53 and a beta of 0.01.
American Outdoor Brands Corporation (NASDAQ:AOBC) last posted its quarterly earnings data on Thursday, June 29th. The company reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.19. American Outdoor Brands Corporation had a net margin of 13.87% and a return on equity of 37.76%. The company had revenue of $229.20 million during the quarter, compared to analyst estimates of $210.82 million. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. Equities research analysts anticipate that American Outdoor Brands Corporation will post $1.56 EPS for the current fiscal year.
AOBC has been the topic of a number of research analyst reports. Wunderlich reissued an “outperform” rating and set a $17.00 price objective on shares of American Outdoor Brands Corporation in a report on Friday, April 14th. Vetr raised shares of American Outdoor Brands Corporation from a “hold” rating to a “buy” rating and set a $22.98 price objective on the stock in a report on Monday, May 1st. Zacks Investment Research raised shares of American Outdoor Brands Corporation from a “sell” rating to a “hold” rating in a report on Wednesday, May 3rd. Finally, Jefferies Group LLC reissued a “hold” rating and set a $20.00 price objective on shares of American Outdoor Brands Corporation in a report on Friday, June 30th. Nine investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $23.34.
In other news, Director Robert L. Scott sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $24.00, for a total transaction of $240,000.00. Following the completion of the transaction, the director now owns 57,448 shares in the company, valued at approximately $1,378,752. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 1.94% of the company’s stock.
About American Outdoor Brands Corporation
American Outdoor Brands Corporation, formerly Smith & Wesson Holding Corporation, is a manufacturer of firearms and a provider of accessory products for the shooting, hunting and outdoor enthusiast. The Company operates through two segments. The Firearms segment manufactures handgun and long gun products sold under the Smith & Wesson, M&P and Thompson/Center Arms brands, as well as providing forging, machining and precision plastic injection molding services.
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