adidas AG (OTCMKTS:ADDYY) Sees Large Decline in Short Interest

adidas AG (OTCMKTS:ADDYY) was the target of a large drop in short interest in June. As of June 15th, there was short interest totalling 9,500 shares, a drop of 80.6% from the May 31st total of 48,900 shares. Based on an average trading volume of 69,500 shares, the short-interest ratio is currently 0.1 days.

Institutional Investors Weigh In On adidas

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC acquired a new position in shares of adidas during the fourth quarter valued at about $45,000. Fisher Asset Management LLC grew its holdings in shares of adidas by 27.5% during the fourth quarter. Fisher Asset Management LLC now owns 12,741 shares of the company’s stock valued at $1,296,000 after buying an additional 2,749 shares during the last quarter. Capital Square LLC acquired a new position in shares of adidas during the fourth quarter valued at about $1,405,000. Finally, Mar Vista Investment Partners LLC grew its holdings in shares of adidas by 8.0% during the fourth quarter. Mar Vista Investment Partners LLC now owns 27,044 shares of the company’s stock valued at $2,749,000 after buying an additional 2,000 shares during the last quarter.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ADDYY shares. Stifel Nicolaus upgraded shares of adidas from a “hold” rating to a “buy” rating in a research report on Wednesday, April 24th. Morgan Stanley upgraded shares of adidas from an “underweight” rating to an “overweight” rating in a research report on Monday, April 15th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy”.

adidas Price Performance

OTCMKTS ADDYY traded up $2.04 during mid-day trading on Thursday, reaching $118.91. 215,489 shares of the stock were exchanged, compared to its average volume of 65,240. adidas has a one year low of $81.88 and a one year high of $127.98. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.22 and a quick ratio of 0.66. The stock has a 50 day simple moving average of $121.70 and a 200-day simple moving average of $108.64.

adidas (OTCMKTS:ADDYY) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.69 by ($0.17). adidas had a net margin of 0.64% and a return on equity of 1.69%. The company had revenue of $5.93 billion during the quarter, compared to the consensus estimate of $5.81 billion. On average, analysts anticipate that adidas will post 1.68 earnings per share for the current year.

adidas Cuts Dividend

The business also recently declared a dividend, which was paid on Wednesday, May 29th. Shareholders of record on Monday, May 20th were paid a $0.2394 dividend. The ex-dividend date of this dividend was Friday, May 17th. adidas’s dividend payout ratio (DPR) is currently 57.14%.

adidas Company Profile

adidas AG, together with its subsidiaries, designs, develops, produces, and markets athletic and sports lifestyle products in Europe, the Middle East, Africa, North America, Greater China, the Asia-Pacific, and Latin America. It offers footwear, apparel, and accessories and gear, such as bags and balls under the adidas brand; golf footwear and apparel under the adidas Golf brand; and outdoor footwear under the Five Ten brand.