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

Johnson Outdoors Inc. (NASDAQ:JOUT) was the recipient of a significant decrease in short interest in the month of October. As of October 15th, there was short interest totalling 461,800 shares, a decrease of 5.7% from the September 30th total of 489,700 shares. Based on an average daily trading volume, of 45,300 shares, the days-to-cover ratio is currently 10.2 days. Currently, 5.5% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of Johnson Outdoors from a “sell” rating to a “hold” rating in a report on Thursday, August 8th.

Hedge Funds Weigh In On Johnson Outdoors

Hedge funds have recently made changes to their positions in the business. nVerses Capital LLC boosted its holdings in Johnson Outdoors by 100.0% during the third quarter. nVerses Capital LLC now owns 800 shares of the company’s stock worth $29,000 after purchasing an additional 400 shares during the last quarter. Lazard Asset Management LLC bought a new stake in Johnson Outdoors during the first quarter worth about $101,000. EntryPoint Capital LLC acquired a new position in Johnson Outdoors during the first quarter valued at approximately $136,000. BNP Paribas Financial Markets boosted its position in Johnson Outdoors by 47.9% during the first quarter. BNP Paribas Financial Markets now owns 3,175 shares of the company’s stock valued at $146,000 after purchasing an additional 1,029 shares during the last quarter. Finally, XTX Topco Ltd acquired a new position in shares of Johnson Outdoors during the 2nd quarter worth approximately $238,000. 64.05% of the stock is owned by institutional investors.

Johnson Outdoors Stock Performance

NASDAQ:JOUT traded down $0.42 on Thursday, reaching $31.95. The company’s stock had a trading volume of 24,708 shares, compared to its average volume of 50,744. The firm has a market cap of $329.12 million, a PE ratio of 68.87, a PEG ratio of 1.40 and a beta of 0.70. The business’s 50-day moving average price is $35.26 and its two-hundred day moving average price is $36.56. Johnson Outdoors has a 1-year low of $31.92 and a 1-year high of $55.30.

Johnson Outdoors (NASDAQ:JOUT) last announced its earnings results on Monday, August 5th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.06). The company had revenue of $172.47 million for the quarter, compared to analyst estimates of $176.14 million. Johnson Outdoors had a negative return on equity of 1.65% and a negative net margin of 1.42%. During the same quarter last year, the business posted $1.44 earnings per share. As a group, sell-side analysts expect that Johnson Outdoors will post 0.07 EPS for the current year.

Johnson Outdoors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Investors of record on Wednesday, October 9th were issued a dividend of $0.33 per share. The ex-dividend date of this dividend was Wednesday, October 9th. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.13%. Johnson Outdoors’s payout ratio is presently 280.85%.

About Johnson Outdoors

Johnson Outdoors Inc designs, manufactures, and markets seasonal and outdoor recreational products for fishing worldwide. It operates through four segments: Fishing, Camping, Watercraft Recreation, and Diving. The Fishing segment offers electric motors for trolling, marine battery chargers, and shallow water anchors; sonar and GPS equipment for fish finding, navigation, and marine cartography; and downriggers for controlled-depth fishing.