Invenomic Capital Management LP Decreases Stake in Johnson Outdoors Inc. (NASDAQ:JOUT)

Invenomic Capital Management LP trimmed its stake in Johnson Outdoors Inc. (NASDAQ:JOUT) by 16.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,064 shares of the company’s stock after selling 9,786 shares during the period. Invenomic Capital Management LP’s holdings in Johnson Outdoors were worth $1,812,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. nVerses Capital LLC increased its stake in Johnson Outdoors by 100.0% during the 3rd quarter. nVerses Capital LLC now owns 800 shares of the company’s stock valued at $29,000 after purchasing an additional 400 shares in the last quarter. FMR LLC raised its stake in shares of Johnson Outdoors by 94.0% in the third quarter. FMR LLC now owns 1,335 shares of the company’s stock worth $48,000 after buying an additional 647 shares during the period. Empowered Funds LLC increased its holdings in Johnson Outdoors by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 18,411 shares of the company’s stock worth $666,000 after acquiring an additional 938 shares in the last quarter. Gabelli Funds LLC lifted its stake in shares of Johnson Outdoors by 6.1% during the 2nd quarter. Gabelli Funds LLC now owns 20,900 shares of the company’s stock valued at $731,000 after buying an additional 1,200 shares in the last quarter. Finally, Creative Planning lifted its holdings in Johnson Outdoors by 44.3% in the 3rd quarter. Creative Planning now owns 10,997 shares of the company’s stock worth $398,000 after purchasing an additional 3,376 shares in the last quarter. 64.05% of the stock is owned by hedge funds and other institutional investors.

Johnson Outdoors Stock Down 0.7 %

Shares of Johnson Outdoors stock opened at $33.21 on Wednesday. The firm has a market capitalization of $342.06 million, a P/E ratio of -41.00, a PEG ratio of 1.66 and a beta of 0.71. Johnson Outdoors Inc. has a 52 week low of $31.60 and a 52 week high of $55.30. The company has a 50 day moving average price of $33.73 and a 200 day moving average price of $35.34.

Johnson Outdoors Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 23rd. Stockholders of record on Wednesday, October 9th were issued a dividend of $0.33 per share. This represents a $1.32 dividend on an annualized basis and a dividend yield of 3.97%. The ex-dividend date was Wednesday, October 9th. Johnson Outdoors’s dividend payout ratio (DPR) is presently -162.96%.

Analyst Ratings Changes

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

Johnson Outdoors Company 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.