Renaissance Technologies LLC Purchases 642,010 Shares of American Outdoor Brands Corp (NASDAQ:AOBC)

Renaissance Technologies LLC boosted its position in shares of American Outdoor Brands Corp (NASDAQ:AOBC) by 21.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,682,400 shares of the company’s stock after purchasing an additional 642,010 shares during the period. Renaissance Technologies LLC owned about 6.72% of American Outdoor Brands worth $33,178,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Cetera Advisor Networks LLC boosted its stake in shares of American Outdoor Brands by 3.2% during the 1st quarter. Cetera Advisor Networks LLC now owns 34,686 shares of the company’s stock worth $326,000 after buying an additional 1,086 shares during the last quarter. Advisor Group Inc. boosted its stake in shares of American Outdoor Brands by 4.3% during the 2nd quarter. Advisor Group Inc. now owns 36,850 shares of the company’s stock worth $332,000 after buying an additional 1,527 shares during the last quarter. Ibex Investors LLC boosted its stake in shares of American Outdoor Brands by 2.6% during the 2nd quarter. Ibex Investors LLC now owns 81,517 shares of the company’s stock worth $734,000 after buying an additional 2,052 shares during the last quarter. Swiss National Bank boosted its stake in shares of American Outdoor Brands by 2.4% during the 2nd quarter. Swiss National Bank now owns 101,450 shares of the company’s stock worth $914,000 after buying an additional 2,400 shares during the last quarter. Finally, Stone Ridge Asset Management LLC boosted its stake in shares of American Outdoor Brands by 12.8% during the 2nd quarter. Stone Ridge Asset Management LLC now owns 47,544 shares of the company’s stock worth $428,000 after buying an additional 5,400 shares during the last quarter. Hedge funds and other institutional investors own 70.16% of the company’s stock.

NASDAQ:AOBC traded down $0.16 during mid-day trading on Friday, hitting $6.74. The stock had a trading volume of 22,591 shares, compared to its average volume of 1,466,505. American Outdoor Brands Corp has a twelve month low of $5.67 and a twelve month high of $15.95. The stock has a market cap of $362.92 million, a price-to-earnings ratio of 8.13 and a beta of 0.29. The company’s 50 day simple moving average is $7.76 and its 200 day simple moving average is $9.10. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.68 and a current ratio of 1.87.

American Outdoor Brands (NASDAQ:AOBC) last issued its earnings results on Thursday, August 29th. The company reported $0.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.08 by ($0.05). American Outdoor Brands had a net margin of 1.39% and a return on equity of 8.19%. The firm had revenue of $123.67 million during the quarter, compared to analyst estimates of $126.58 million. During the same quarter last year, the business posted $0.21 earnings per share. The company’s revenue for the quarter was down 10.9% on a year-over-year basis. As a group, equities analysts forecast that American Outdoor Brands Corp will post 0.74 earnings per share for the current year.

A number of equities analysts have recently commented on the stock. Cowen set a $10.00 price objective on shares of American Outdoor Brands and gave the stock a “hold” rating in a research note on Thursday, August 29th. Lake Street Capital restated a “buy” rating and set a $14.00 price objective (down from $17.00) on shares of American Outdoor Brands in a research note on Friday, August 30th. BidaskClub upgraded shares of American Outdoor Brands from a “strong sell” rating to a “sell” rating in a research note on Wednesday. Craig Hallum reduced their price objective on shares of American Outdoor Brands from $13.00 to $10.00 and set a “hold” rating for the company in a research note on Friday, August 30th. Finally, ValuEngine downgraded shares of American Outdoor Brands from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $10.30.

About American Outdoor Brands

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

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