Prudential Financial Inc. Purchased $17.61 Million in American Outdoor Brands Corp (AOBC)

Prudential Financial Inc. Purchased $17.61 Million in American Outdoor Brands Corp (AOBC)

Prudential Financial Inc. acquired a new stake in shares of American Outdoor Brands Corp (NASDAQ:AOBC) during the first quarter, Holdings Channel reports. The firm acquired 888,999 shares of the company’s stock, valued at approximately $17,611,000.

Several other institutional investors also recently made changes to their positions in AOBC. JPMorgan Chase & Co. bought a new position in shares of American Outdoor Brands Corp during the first quarter valued at $7,165,000. Envestnet Asset Management Inc. bought a new position in shares of American Outdoor Brands Corp during the first quarter valued at $107,000. Ifrah Financial Services Inc. bought a new position in shares of American Outdoor Brands Corp during the first quarter valued at $397,000. Independent Advisor Alliance bought a new position in shares of American Outdoor Brands Corp during the first quarter valued at $207,000. Finally, Alambic Investment Management L.P. bought a new position in shares of American Outdoor Brands Corp during the first quarter valued at $701,000. Hedge funds and other institutional investors own 74.02% of the company’s stock.

American Outdoor Brands Corp (NASDAQ AOBC) traded down 0.7165% during midday trading on Monday, hitting $23.5699. 310,598 shares of the stock traded hands. The stock has a market capitalization of $1.33 billion, a P/E ratio of 9.9158 and a beta of 0.75. American Outdoor Brands Corp has a 52 week low of $17.50 and a 52 week high of $31.19. The stock’s 50-day moving average price is $22.11 and its 200-day moving average price is $21.04.

American Outdoor Brands Corp (NASDAQ:AOBC) last issued its quarterly earnings results on Thursday, March 2nd. The company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.11. American Outdoor Brands Corp had a net margin of 15.15% and a return on equity of 44.96%. The company had revenue of $233.50 million during the quarter, compared to analysts’ expectations of $235.06 million. During the same period last year, the company posted $0.59 EPS. American Outdoor Brands Corp’s revenue was up 10.8% on a year-over-year basis. Equities research analysts expect that American Outdoor Brands Corp will post $2.36 EPS for the current fiscal year.

Several brokerages have recently weighed in on AOBC. Jefferies Group LLC reiterated a “hold” rating on shares of American Outdoor Brands Corp in a report on Friday. Wedbush upped their price objective on shares of American Outdoor Brands Corp from $21.00 to $23.00 and gave the company a “neutral” rating in a report on Friday. Vetr upgraded shares of American Outdoor Brands Corp from a “hold” rating to a “buy” rating and set a $23.59 price objective on the stock in a report on Wednesday, May 10th. Zacks Investment Research upgraded shares of American Outdoor Brands Corp from a “sell” rating to a “hold” rating in a report on Wednesday, May 3rd. Finally, Wunderlich reiterated an “outperform” rating and set a $17.00 price objective on shares of American Outdoor Brands Corp in a report on Friday, April 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the company. American Outdoor Brands Corp has a consensus rating of “Hold” and a consensus price target of $23.16.

About American Outdoor Brands Corp

American Outdoor Brands Corporation, formerly Smith & Wesson Holding Corporation, is a manufacturer of firearms and a provider of accessory products for the shooting, hunting and outdoor enthusiast. The Company operates through two segments. The Firearms segment manufactures handgun and long gun products sold under the Smith & Wesson, M&P and Thompson/Center Arms brands, as well as providing forging, machining and precision plastic injection molding services.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:AOBC”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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