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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Academy Sports and Outdoors, Inc.    ASO

ACADEMY SPORTS AND OUTDOORS, INC.

(ASO)
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Academy Sports & Outdoors shares fall after JPMorgan block trade: sources

04/08/2021 | 03:41pm EDT

(Reuters) - Shares of retailer Academy Sports & Outdoors Inc were down 5.9% on Thursday afternoon, with sources citing a large trade in the stock hitting the market.

JPMorgan put 9 million shares of Academy Sports on the market at a $28.80 price on Wednesday after the close, according to capital markets sources familiar with the transaction. The block trade price represented a 6.4% discount to stock's close on Wednesday.

The stock, which hit a record high of $33.74 earlier this month, last traded at $28.97.

While the sources did not identify the seller, private equity firm KKR & Co Inc owns at least that many shares, according to public filings with regulators.

KKR & Co did not immediately respond to a request for comment.

After ending 2020 with 61.6 million shares or 67.7% of Academy Sports' shares outstanding, KKR sold about 12 million shares in a late January secondary offering priced at $21.50, cutting its ASO stake to about 55% or roughly 49.6 million shares.

The next-biggest Academy Sports shareholders are Fidelity Management with about 3 million shares, Samlyn Capital with about 2 million shares and Tiger Global Management with 1.75 million, according to Refinitiv.

A 9 million-share block represents about a week's worth of trading volume based on the 30-day moving average and roughly a third of ASO's free float, which is about 28 million shares, according to Refinitiv.

ASO's stock had surged 48% year-to-date through Wednesday's close and was 137% above the October IPO price of $13 after KKR took it public.

(Reporting by Lance Tupper in New York; Writing by Sinead Carew; Editing by Ira Iosebashvili and Matthew Lewis; (Lance Tupper is a Reuters markets analyst. The views expressed are his own)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ACADEMY SPORTS AND OUTDOORS, INC. 4.70% 32.29 Delayed Quote.55.76%
JPMORGAN CHASE & CO. -0.21% 155.95 Delayed Quote.22.73%
KKR & CO. INC. 1.32% 52.01 Delayed Quote.28.45%
VIACOMCBS INC. -4.05% 44.96 Delayed Quote.18.88%
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Financials (USD)
Sales 2022 5 669 M - -
Net income 2022 273 M - -
Net Debt 2022 200 M - -
P/E ratio 2022 11,6x
Yield 2022 -
Capitalization 2 948 M 2 948 M -
EV / Sales 2022 0,56x
EV / Sales 2023 0,48x
Nbr of Employees 16 500
Free-Float 91,2%
Chart ACADEMY SPORTS AND OUTDOORS, INC.
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Academy Sports and Outdoors, Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends ACADEMY SPORTS AND OUTDOORS, INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 10
Average target price 32,00 $
Last Close Price 32,29 $
Spread / Highest target 8,39%
Spread / Average Target -0,90%
Spread / Lowest Target -7,09%
EPS Revisions
Managers and Directors
NameTitle
Kenneth C. Hicks Chairman, President & Chief Executive Officer
Michael P. Mullican Chief Financial Officer & Executive Vice President
Manish Maini Chief Information Officer & Senior Vice President
Wendy A. Beck Independent Director
Allen I. Questrom Independent Director
Sector and Competitors