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

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

Wall Street Analysts Forecast Growth

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

Johnson Outdoors Trading Up 1.5 %

Shares of JOUT stock opened at $32.08 on Friday. The company’s fifty day simple moving average is $35.18 and its 200-day simple moving average is $36.52. Johnson Outdoors has a 52 week low of $31.60 and a 52 week high of $55.30. The company has a market cap of $330.42 million, a PE ratio of -39.60, a P/E/G ratio of 1.61 and a beta of 0.70.

Johnson Outdoors (NASDAQ:JOUT) last issued its quarterly earnings data on Monday, August 5th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). Johnson Outdoors had a negative return on equity of 1.65% and a negative net margin of 1.42%. The company had revenue of $172.47 million for the quarter, compared to analyst estimates of $176.14 million. During the same quarter in the prior year, the firm earned $1.44 EPS. Equities research analysts expect that Johnson Outdoors will post 0.07 EPS for the current fiscal year.

Johnson Outdoors Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Shareholders of record on Wednesday, October 9th were given a $0.33 dividend. This represents a $1.32 annualized dividend and a yield of 4.11%. The ex-dividend date was Wednesday, October 9th. Johnson Outdoors’s dividend payout ratio (DPR) is -162.96%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in JOUT. Vanguard Group Inc. grew its holdings in Johnson Outdoors by 13.9% during the 1st quarter. Vanguard Group Inc. now owns 346,115 shares of the company’s stock valued at $15,959,000 after purchasing an additional 42,314 shares in the last quarter. Gamco Investors INC. ET AL grew its stake in shares of Johnson Outdoors by 39.5% during the first quarter. Gamco Investors INC. ET AL now owns 248,300 shares of the company’s stock valued at $11,449,000 after acquiring an additional 70,300 shares in the last quarter. Deprince Race & Zollo Inc. lifted its stake in shares of Johnson Outdoors by 35.8% in the second quarter. Deprince Race & Zollo Inc. now owns 223,814 shares of the company’s stock worth $7,829,000 after acquiring an additional 59,016 shares in the last quarter. ProShare Advisors LLC lifted its stake in shares of Johnson Outdoors by 17.3% in the first quarter. ProShare Advisors LLC now owns 163,026 shares of the company’s stock worth $7,517,000 after acquiring an additional 23,987 shares in the last quarter. Finally, Skylands Capital LLC boosted its holdings in Johnson Outdoors by 43.7% in the second quarter. Skylands Capital LLC now owns 161,900 shares of the company’s stock valued at $5,663,000 after purchasing an additional 49,200 shares during the last quarter. 64.05% of the stock is owned by institutional investors and hedge funds.

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.