Short Interest in Vista Outdoor Inc (NYSE:VSTO) Decreases By 23.2%

Vista Outdoor Inc (NYSE:VSTO) was the recipient of a large drop in short interest in the month of August. As of August 31st, there was short interest totalling 2,120,000 shares, a drop of 23.2% from the August 15th total of 2,760,000 shares. Based on an average trading volume of 1,300,000 shares, the short-interest ratio is currently 1.6 days. Approximately 3.7% of the shares of the stock are sold short.

A number of institutional investors and hedge funds have recently made changes to their positions in VSTO. FMR LLC lifted its holdings in Vista Outdoor by 270,750.3% during the 2nd quarter. FMR LLC now owns 3,217,702 shares of the company’s stock worth $46,495,000 after buying an additional 3,216,514 shares during the period. Greenhouse Funds LLLP acquired a new position in shares of Vista Outdoor in the 2nd quarter valued at about $22,805,000. Laidlaw Wealth Management LLC acquired a new position in shares of Vista Outdoor in the 2nd quarter valued at about $80,000. Driehaus Capital Management LLC acquired a new position in shares of Vista Outdoor in the 2nd quarter valued at about $11,966,000. Finally, Royal Bank of Canada lifted its stake in shares of Vista Outdoor by 42.4% in the 1st quarter. Royal Bank of Canada now owns 1,091,458 shares of the company’s stock valued at $9,605,000 after purchasing an additional 324,747 shares during the period. 89.59% of the stock is currently owned by hedge funds and other institutional investors.

VSTO stock traded down $0.11 during midday trading on Wednesday, reaching $19.40. 709,582 shares of the stock were exchanged, compared to its average volume of 1,128,553. The stock has a market capitalization of $1.13 billion, a PE ratio of -11.34 and a beta of 0.44. Vista Outdoor has a 52 week low of $4.29 and a 52 week high of $22.60. The company has a debt-to-equity ratio of 0.91, a current ratio of 2.68 and a quick ratio of 1.45. The company has a fifty day moving average price of $19.20 and a 200 day moving average price of $12.30.

Vista Outdoor (NYSE:VSTO) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.54. The business had revenue of $479.14 million for the quarter, compared to analyst estimates of $405.82 million. Vista Outdoor had a positive return on equity of 9.19% and a negative net margin of 5.52%. Vista Outdoor’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.08) EPS. As a group, analysts anticipate that Vista Outdoor will post 2.03 earnings per share for the current fiscal year.

VSTO has been the topic of several recent analyst reports. William Blair initiated coverage on Vista Outdoor in a research note on Friday, September 4th. They issued an “outperform” rating on the stock. Cowen reiterated a “hold” rating and issued a $18.00 price target on shares of Vista Outdoor in a research note on Thursday, July 16th. Zacks Investment Research upgraded Vista Outdoor from a “hold” rating to a “strong-buy” rating and set a $18.00 price target on the stock in a research note on Saturday, July 11th. ValuEngine lowered Vista Outdoor from a “sell” rating to a “strong sell” rating in a research note on Tuesday, September 1st. Finally, Monness Crespi & Hardt lifted their price target on Vista Outdoor from $15.00 to $28.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $19.75.

About Vista Outdoor

Vista Outdoor Inc designs, manufactures, and markets consumer products for outdoor sports and recreation markets in the United States and internationally. The company operates through Outdoor Products and Shooting Sports segments. The Outdoor Products segment offer sports products for action sports, including helmets, goggles, and accessories for cycling, snow, action, and power sports; archery/hunting accessories, such as hunting arrows, game calls, hunting blinds, game cameras, and waterfowl decoys; outdoor cooking solutions for camping; eyewear and sport protection products, including safety and protective eyewear, and fashion and sports eyewear; golf products, such as laser rangefinders; hydration products comprising hydration packs and water bottles; optical products, such as binoculars, riflescopes, and telescopes; shooting accessories, including reloading equipment, clay targets, and premium gun care products; tactical products, such as holsters, duty gear, bags, and packs; and water sports products, including stand up paddle boards.

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