Escalade, Incorporated (NASDAQ:ESCA) Sees Large Increase in Short Interest
by Scott Moore · The Cerbat GemEscalade, Incorporated (NASDAQ:ESCA – Get Free Report) was the target of a large increase in short interest in the month of January. As of January 15th, there was short interest totaling 168,847 shares, an increase of 35.1% from the December 31st total of 124,984 shares. Based on an average daily trading volume, of 23,478 shares, the days-to-cover ratio is currently 7.2 days. Currently, 1.7% of the company’s stock are short sold. Currently, 1.7% of the company’s stock are short sold. Based on an average daily trading volume, of 23,478 shares, the days-to-cover ratio is currently 7.2 days.
Escalade Price Performance
Shares of Escalade stock traded up $0.28 on Friday, reaching $14.54. The stock had a trading volume of 23,830 shares, compared to its average volume of 18,976. The business’s 50 day moving average is $13.45 and its two-hundred day moving average is $12.76. The company has a current ratio of 3.30, a quick ratio of 1.41 and a debt-to-equity ratio of 0.08. Escalade has a 1 year low of $11.41 and a 1 year high of $16.99. The company has a market cap of $200.65 million, a P/E ratio of 15.98 and a beta of 0.69.
Escalade (NASDAQ:ESCA – Get Free Report) last released its quarterly earnings results on Thursday, October 30th. The company reported $0.40 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.09. The firm had revenue of $67.79 million during the quarter, compared to analyst estimates of $58.83 million. Escalade had a net margin of 5.26% and a return on equity of 7.49%. As a group, research analysts anticipate that Escalade will post 0.93 EPS for the current year.
Insider Activity at Escalade
In other Escalade news, CFO Stephen Wawrin sold 2,000 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $13.00, for a total value of $26,000.00. Following the transaction, the chief financial officer owned 41,000 shares in the company, valued at approximately $533,000. This represents a 4.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard Fenton Baalmann, Jr. sold 5,490 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $13.00, for a total value of $71,370.00. Following the sale, the director owned 100,394 shares of the company’s stock, valued at approximately $1,305,122. This represents a 5.18% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 12,000 shares of company stock worth $156,100. Corporate insiders own 28.75% of the company’s stock.
Hedge Funds Weigh In On Escalade
Institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. grew its position in Escalade by 13.1% during the third quarter. JPMorgan Chase & Co. now owns 13,853 shares of the company’s stock valued at $174,000 after acquiring an additional 1,600 shares during the last quarter. Prosperity Consulting Group LLC lifted its holdings in shares of Escalade by 11.7% in the 3rd quarter. Prosperity Consulting Group LLC now owns 19,782 shares of the company’s stock worth $249,000 after acquiring an additional 2,075 shares during the last quarter. Citadel Advisors LLC boosted its stake in shares of Escalade by 120.1% in the 3rd quarter. Citadel Advisors LLC now owns 27,916 shares of the company’s stock valued at $351,000 after purchasing an additional 15,231 shares in the last quarter. Bridgeway Capital Management LLC grew its holdings in shares of Escalade by 2.5% during the 3rd quarter. Bridgeway Capital Management LLC now owns 41,808 shares of the company’s stock valued at $526,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Minerva Advisors LLC raised its position in Escalade by 2.3% in the 3rd quarter. Minerva Advisors LLC now owns 550,192 shares of the company’s stock worth $6,916,000 after purchasing an additional 12,378 shares during the period. 65.22% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
ESCA has been the topic of several analyst reports. Wall Street Zen cut Escalade from a “strong-buy” rating to a “buy” rating in a research report on Saturday. Zacks Research downgraded shares of Escalade from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 27th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Escalade in a report on Thursday, January 22nd. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold”.
View Our Latest Report on ESCA
About Escalade
Escalade, Inc is a U.S.-based manufacturer and distributor of recreational equipment and specialty products for both consumer and commercial markets. Headquartered in Evansville, Indiana, the company operates through two principal business segments: Sporting Goods and Commercial Products. The Sporting Goods segment encompasses a diverse range of products such as hockey and lacrosse goal assemblies, fitness accessories, archery and hunting gear, and table tennis equipment. The Commercial Products segment focuses on seating solutions for restaurants, hospitality venues and other public spaces under the Top Seat brand, as well as storage, display products and industrial carts.
Within Sporting Goods, Escalade markets its products under proprietary brands including Bear® Archery, Gene St.