Columbia Sportswear (NASDAQ:COLM) sees strong growth in short-term interest

Columbia Sportswear (NASDAQ:COLM – Get a rating) was the target of strong short-term interest growth in August. As of August 31, there was short interest totaling 1,310,000 shares, a growth of 12.0% from the total of 1,170,000 shares as of August 15. Based on an average daily trading volume of 361,600 shares, the day-to-cover ratio is currently 3.6 days. Approximately 4.0% of the company’s shares are sold short.

Columbia sportswear stock up 2.3%

Shares of COLM traded at $1.60 midday on Monday, hitting $72.60. The company’s stock had a trading volume of 11,317 shares, compared to an average volume of 411,214. The company has a fifty-day moving average of $74.06 and a 200-day moving average of $79.09 . The company has a market cap of $4.56 billion, a price-to-earnings ratio of 14.06, a growth price-to-earnings ratio of 1.69, and a beta of 0.88. Columbia Sportswear has a 1-year minimum of $68.29 and a 1-year maximum of $107.50.

Columbia Sportswear (NASDAQ:COLM – Get a rating) last reported results on Wednesday, July 27. The textile maker reported earnings per share (EPS) of $0.11 for the quarter, beating analysts’ consensus estimate of $0.04 by $0.07. The company posted revenue of $578.06 million in the quarter, versus analyst estimates of $592.35 million. Columbia Sportswear had a return on equity of 17.87% and a net margin of 10.13%. The company’s revenue for the quarter increased 2.1% year over year. In the same quarter of the previous year, the company had earned earnings per share of $0.61. On average, analysts predict Columbia Sportswear will post 5.18 earnings per share for the current year.

Columbia Sportswear Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 31. Shareholders of record on Wednesday August 17 received a dividend of $0.30. This represents a dividend of $1.20 on an annualized basis and a dividend yield of 1.65%. The ex-dividend date was Tuesday, August 16. Columbia Sportswear’s dividend payout ratio (DPR) is currently 23.76%.

Insider buying and selling

In other Columbia Sportswear news, Chief Financial Officer Jim A. Swanson acquired 500 shares of the company in a transaction that took place on Monday, August 29. The shares were acquired at an average cost of $72.99 per share, with a total value of $36,495.00. Following the acquisition, the CFO now directly owns 5,197 shares of the company, valued at approximately $379,329.03. The transaction was disclosed in an SEC filing, which is available via the SEC website. Company insiders own 42.37% of the company’s shares.

Hedge funds weigh on Columbia Sportswear

A number of hedge funds have recently changed their stock holdings. Verition Fund Management LLC increased its stake in shares of Columbia Sportswear by 393.4% in the second quarter. Verition Fund Management LLC now owns 12,379 shares of the textile maker worth $886,000 after acquiring 9,870 additional shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Columbia Sportswear by 5.4% in the second quarter. Goldman Sachs Group Inc. now owns 169,492 shares of the textile maker worth $12,132,000 after acquiring 8,691 additional shares in the last quarter. Captrust Financial Advisors increased its stake in shares of Columbia Sportswear by 324.2% in the second quarter. Captrust Financial Advisors now owns 11,751 shares of the textile maker worth $841,000 after acquiring 8,981 additional shares in the last quarter. Jane Street Group LLC increased its stake in shares of Columbia Sportswear by 57.3% in the second quarter. Jane Street Group LLC now owns 27,629 shares of the textile maker worth $1,978,000 after acquiring an additional 10,060 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its position in Columbia Sportswear by 35.8% during the second quarter. Thrivent Financial for Lutherans now owns 12,343 shares of the textile maker worth $884,000 after buying 3,252 additional shares in the last quarter. 48.56% of the shares are held by institutional investors and hedge funds.

A Wall Street analyst gives his opinion

A number of stock analysts have recently released reports on the company. StockNews.com downgraded Columbia Sportswear from a “buy” rating to a “hold” rating in a Friday, August 5, report. Stifel Nicolaus reduced his price target on Columbia Sportswear from $100.00 to $81.00 in a Wednesday, July 20 research report. UBS Group reduced its target price on Columbia Sportswear from $83.00 to $80.00 and set a “neutral” rating for the company in a Thursday, July 28 research report. Citigroup reduced its target price on Columbia Sportswear from $98.00 to $80.00 in a Thursday, July 28 research report. Finally, Cowen reduced his target price on Columbia Sportswear to $95.00 in a Monday, July 25 research report. One financial analyst has assigned the stock a sell rating, five have issued a hold rating and three have assigned the company’s stock a buy rating. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $89.38.

Columbia Sportswear Company Profile

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Columbia Sportswear Company, together with its subsidiaries, designs, sources, markets and distributes outdoor, active and everyday apparel, footwear, accessories and equipment in the United States, Latin America, Asia-Pacific, Europe, the Middle East, Africa and Canada. The company provides clothing, accessories and equipment that are used in various activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, running , water sports, yoga, golf and adventure travel.

Further reading

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