Johnson Outdoors Inc. (NASDAQ:JOUT) Sees Large Drop in Short Interest

Johnson Outdoors Inc. (NASDAQ:JOUT) was the recipient of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 239,700 shares, a decline of 7.5% from the September 30th total of 259,200 shares. Approximately 2.9% of the company’s shares are sold short. Based on an average daily trading volume, of 44,000 shares, the short-interest ratio is currently 5.4 days.

JOUT has been the topic of a number of analyst reports. Zacks Investment Research upgraded Johnson Outdoors from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 9th. ValuEngine upgraded Johnson Outdoors from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. BidaskClub upgraded Johnson Outdoors from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Imperial Capital cut their target price on Johnson Outdoors from $95.00 to $80.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 6th. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Johnson Outdoors presently has an average rating of “Hold” and an average target price of $79.00.

Shares of Johnson Outdoors stock traded up $0.02 on Tuesday, hitting $64.67. 391 shares of the company’s stock traded hands, compared to its average volume of 30,212. Johnson Outdoors has a one year low of $54.12 and a one year high of $91.90. The company has a fifty day moving average of $60.49 and a two-hundred day moving average of $67.22. The company has a market capitalization of $651.28 million, a price-to-earnings ratio of 13.86 and a beta of 0.91.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were given a dividend of $0.17 per share. This is a positive change from Johnson Outdoors’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Thursday, October 10th. This represents a $0.68 annualized dividend and a dividend yield of 1.05%. Johnson Outdoors’s dividend payout ratio is presently 14.50%.

Institutional investors have recently made changes to their positions in the stock. James Investment Research Inc. boosted its position in shares of Johnson Outdoors by 20.7% during the 2nd quarter. James Investment Research Inc. now owns 7,465 shares of the company’s stock valued at $557,000 after purchasing an additional 1,280 shares in the last quarter. Nuveen Asset Management LLC acquired a new position in Johnson Outdoors during the 2nd quarter worth approximately $4,982,000. Mesirow Financial Investment Management Inc. raised its stake in Johnson Outdoors by 12.0% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 6,797 shares of the company’s stock worth $511,000 after buying an additional 729 shares during the period. Bogle Investment Management L P DE acquired a new position in Johnson Outdoors during the 2nd quarter worth approximately $394,000. Finally, Renaissance Technologies LLC raised its stake in Johnson Outdoors by 6.4% during the 2nd quarter. Renaissance Technologies LLC now owns 370,900 shares of the company’s stock worth $27,658,000 after buying an additional 22,153 shares during the period. Institutional investors own 62.52% of the company’s stock.

About Johnson Outdoors

Johnson Outdoors Inc designs, manufactures, and markets camping, diving, watercraft, and marine electronics products worldwide. The company's Fishing segment offers electric motors for trolling or primary propulsion, marine battery chargers, and shallow water anchors; sonar and GPS equipment for fish finding, navigation, and marine cartography; and downriggers for controlled-depth fishing.

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