Columbia Sportswear (NASDAQ:COLM) Short Interest Up 12.0% in August

Columbia Sportswear (NASDAQ:COLMGet Rating) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 1,310,000 shares, an increase of 12.0% from the August 15th total of 1,170,000 shares. Currently, 4.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 361,600 shares, the short-interest ratio is presently 3.6 days.

Insider Activity

In related news, CFO Jim A. Swanson acquired 500 shares of Columbia Sportswear stock in a transaction dated Monday, August 29th. The shares were purchased at an average price of $72.99 per share, for a total transaction of $36,495.00. Following the completion of the transaction, the chief financial officer now directly owns 5,197 shares in the company, valued at approximately $379,329.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 42.37% of the company’s stock.

Institutional Trading of Columbia Sportswear

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

Columbia Sportswear Price Performance

NASDAQ:COLM opened at $70.91 on Wednesday. Columbia Sportswear has a 1-year low of $68.29 and a 1-year high of $107.50. The company has a 50-day moving average of $73.97 and a 200 day moving average of $78.91. The firm has a market cap of $4.46 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 1.69 and a beta of 0.88.

Columbia Sportswear (NASDAQ:COLMGet Rating) last released its quarterly earnings data on Wednesday, July 27th. The textile maker reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.07. Columbia Sportswear had a net margin of 10.13% and a return on equity of 17.87%. The company had revenue of $578.06 million during the quarter, compared to analyst estimates of $592.35 million. During the same period in the prior year, the firm earned $0.61 earnings per share. The firm’s revenue for the quarter was up 2.1% compared to the same quarter last year. Sell-side analysts anticipate that Columbia Sportswear will post 5.18 EPS for the current fiscal year.

Columbia Sportswear Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 31st. Investors of record on Wednesday, August 17th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date was Tuesday, August 16th. Columbia Sportswear’s dividend payout ratio (DPR) is presently 23.76%.

Wall Street Analysts Forecast Growth

Several research firms have commented on COLM. Citigroup dropped their price objective on shares of Columbia Sportswear from $98.00 to $80.00 in a research note on Thursday, July 28th. Stifel Nicolaus dropped their price objective on shares of Columbia Sportswear from $100.00 to $81.00 in a research note on Wednesday, July 20th. Robert W. Baird dropped their price objective on shares of Columbia Sportswear from $85.00 to $82.00 and set a “neutral” rating for the company in a research note on Thursday, July 28th. UBS Group lowered their target price on shares of Columbia Sportswear from $83.00 to $80.00 and set a “neutral” rating for the company in a research note on Thursday, July 28th. Finally, Cowen lowered their target price on shares of Columbia Sportswear to $95.00 in a research note on Monday, July 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $89.38.

About Columbia Sportswear

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

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