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

Denali Advisors LLC lessened its position in shares of Johnson Outdoors Inc. (NASDAQ:JOUT) by 27.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,900 shares of the company’s stock after selling 8,400 shares during the period. Denali Advisors LLC owned about 0.21% of Johnson Outdoors worth $766,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Johnson Outdoors by 13.9% in the 1st quarter. Vanguard Group Inc. now owns 346,115 shares of the company’s stock valued at $15,959,000 after buying an additional 42,314 shares during the last quarter. Gamco Investors INC. ET AL lifted its position in shares of Johnson Outdoors by 39.5% in the first quarter. Gamco Investors INC. ET AL now owns 248,300 shares of the company’s stock worth $11,449,000 after purchasing an additional 70,300 shares in the last quarter. ProShare Advisors LLC boosted its holdings in Johnson Outdoors by 17.3% during the first quarter. ProShare Advisors LLC now owns 163,026 shares of the company’s stock worth $7,517,000 after purchasing an additional 23,987 shares during the last quarter. Empowered Funds LLC grew its position in Johnson Outdoors by 8.2% in the first quarter. Empowered Funds LLC now owns 16,213 shares of the company’s stock valued at $748,000 after purchasing an additional 1,225 shares in the last quarter. Finally, Gabelli Funds LLC grew its position in Johnson Outdoors by 20.4% in the fourth quarter. Gabelli Funds LLC now owns 17,700 shares of the company’s stock valued at $946,000 after purchasing an additional 3,000 shares in the last quarter. Institutional investors and hedge funds own 64.05% of the company’s stock.

Analyst Ratings Changes

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

Johnson Outdoors Stock Up 1.7 %

JOUT stock opened at $37.30 on Wednesday. The company has a market cap of $384.23 million, a price-to-earnings ratio of 79.36, a P/E/G ratio of 36.24 and a beta of 0.70. Johnson Outdoors Inc. has a twelve month low of $32.79 and a twelve month high of $55.43. The business has a 50 day moving average price of $37.08 and a two-hundred day moving average price of $38.61.

Johnson Outdoors (NASDAQ:JOUT) last issued its earnings results on Monday, August 5th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.06). Johnson Outdoors had a negative return on equity of 1.65% and a negative net margin of 1.42%. The firm had revenue of $172.47 million for the quarter, compared to analyst estimates of $176.14 million. During the same quarter in the previous year, the firm posted $1.44 earnings per share. On average, equities research analysts anticipate that Johnson Outdoors Inc. will post 0.07 EPS for the current fiscal year.

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.