Denali Advisors LLC Sells 8,400 Shares of Johnson Outdoors Inc. (NASDAQ:JOUT)

Denali Advisors LLC lessened its holdings in Johnson Outdoors Inc. (NASDAQ:JOUT) by 27.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 21,900 shares of the company’s stock after selling 8,400 shares during the period. Denali Advisors LLC’s holdings in Johnson Outdoors were worth $766,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Lazard Asset Management LLC bought a new position in shares of Johnson Outdoors in the first quarter valued at about $101,000. EntryPoint Capital LLC bought a new position in Johnson Outdoors in the 1st quarter valued at about $136,000. BNP Paribas Financial Markets lifted 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 worth $146,000 after acquiring an additional 1,029 shares during the last quarter. Prosperity Consulting Group LLC acquired a new stake in Johnson Outdoors during the first quarter worth approximately $306,000. Finally, Legato Capital Management LLC grew its position in shares of Johnson Outdoors by 31.5% in the second quarter. Legato Capital Management LLC now owns 16,622 shares of the company’s stock valued at $581,000 after purchasing an additional 3,984 shares during the last quarter. Institutional investors and hedge funds own 64.05% of the company’s stock.

Johnson Outdoors Stock Performance

Shares of Johnson Outdoors stock opened at $37.30 on Wednesday. The firm has a 50-day moving average of $37.08 and a 200-day moving average of $38.61. Johnson Outdoors Inc. has a 52-week low of $32.79 and a 52-week high of $55.43. The stock has a market cap of $384.23 million, a PE ratio of 79.36, a PEG ratio of 36.24 and a beta of 0.70.

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

Wall Street Analyst Weigh In

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

Johnson Outdoors Profile

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.