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

Johnson Outdoors Inc. (NASDAQ:JOUT) was the target of a large increase in short interest in the month of November. As of November 15th, there was short interest totalling 448,400 shares, an increase of 5.4% from the October 31st total of 425,500 shares. Approximately 5.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 39,100 shares, the days-to-cover ratio is currently 11.5 days.

Johnson Outdoors Trading Down 0.6 %

Shares of NASDAQ JOUT opened at $33.45 on Tuesday. The company’s 50-day simple moving average is $33.80 and its 200-day simple moving average is $35.37. Johnson Outdoors has a 52-week low of $31.60 and a 52-week high of $55.30.

Johnson Outdoors Announces Dividend

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 $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 3.95%. The ex-dividend date of this dividend was Wednesday, October 9th. Johnson Outdoors’s payout ratio is -162.96%.

Hedge Funds Weigh In On Johnson Outdoors

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Johnson Outdoors by 13.9% in the first quarter. Vanguard Group Inc. now owns 346,115 shares of the company’s stock worth $15,959,000 after acquiring an additional 42,314 shares during the last quarter. GSA Capital Partners LLP purchased a new position in Johnson Outdoors in the 3rd quarter valued at $1,020,000. Empowered Funds LLC boosted its stake in Johnson Outdoors by 5.4% during the 3rd quarter. Empowered Funds LLC now owns 18,411 shares of the company’s stock worth $666,000 after purchasing an additional 938 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Johnson Outdoors by 33.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 75,530 shares of the company’s stock worth $2,734,000 after buying an additional 19,013 shares in the last quarter. Finally, Rice Hall James & Associates LLC raised its position in shares of Johnson Outdoors by 71.5% in the third quarter. Rice Hall James & Associates LLC now owns 72,211 shares of the company’s stock valued at $2,614,000 after buying an additional 30,100 shares during the last quarter. Institutional investors and hedge funds own 64.05% of the company’s stock.

Analyst Ratings Changes

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

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.