Columbia Sportswear (NASDAQ:COLM) Shares Bought by 1832 Asset Management L.P.
1832 Asset Management L.P. boosted its stake in shares of Columbia Sportswear (NASDAQ:COLM) by 26.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 229,350 shares of the textile maker’s stock after buying an additional 47,350 shares during the period. 1832 Asset Management L.P. owned about 0.35% of Columbia Sportswear worth $16,379,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of COLM. Toronto Dominion Bank bought a new stake in Columbia Sportswear during the fourth quarter worth approximately $36,000. FinTrust Capital Advisors LLC bought a new stake in shares of Columbia Sportswear in the first quarter valued at approximately $43,000. Ellevest Inc. bought a new stake in shares of Columbia Sportswear in the first quarter valued at approximately $94,000. Robecosam AG boosted its position in shares of Columbia Sportswear by 2.2% in the fourth quarter. Robecosam AG now owns 137,400 shares of the textile maker’s stock valued at $100,000 after acquiring an additional 3,000 shares during the period. Finally, Huntington National Bank boosted its position in shares of Columbia Sportswear by 77.5% in the first quarter. Huntington National Bank now owns 1,448 shares of the textile maker’s stock valued at $101,000 after acquiring an additional 632 shares during the period. Hedge funds and other institutional investors own 41.83% of the company’s stock.
In related news, major shareholder Gertrude Boyle Trust sold 11,801 shares of the company’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $83.22, for a total transaction of $982,079.22. Following the sale, the insider now owns 1,154,136 shares in the company, valued at approximately $96,047,197.92. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Sarah Bany sold 1,474 shares of the company’s stock in a transaction dated Tuesday, June 23rd. The shares were sold at an average price of $80.00, for a total value of $117,920.00. Following the sale, the insider now owns 1,154,136 shares in the company, valued at approximately $92,330,880. The disclosure for this sale can be found here. In the last three months, insiders sold 116,381 shares of company stock valued at $9,134,847. Insiders own 41.15% of the company’s stock.
Columbia Sportswear (NASDAQ:COLM) last released its earnings results on Thursday, April 30th. The textile maker reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.63 by ($0.56). The company had revenue of $568.23 million for the quarter, compared to the consensus estimate of $597.75 million. Columbia Sportswear had a net margin of 8.68% and a return on equity of 14.34%. The business’s revenue was down 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.07 earnings per share. As a group, research analysts anticipate that Columbia Sportswear will post 1.99 EPS for the current year.
COLM has been the subject of a number of recent research reports. BidaskClub upgraded Columbia Sportswear from a “sell” rating to a “hold” rating in a research note on Saturday, June 6th. Citigroup raised their target price on Columbia Sportswear from $64.00 to $72.00 and gave the company a “neutral” rating in a research note on Friday, May 1st. Pivotal Research decreased their price target on Columbia Sportswear from $101.00 to $84.00 and set a “hold” rating on the stock in a report on Wednesday, April 29th. TheStreet cut Columbia Sportswear from a “b” rating to a “c+” rating in a report on Friday, March 20th. Finally, Cfra reduced their target price on Columbia Sportswear from $120.00 to $115.00 and set a “buy” rating on the stock in a report on Friday, May 1st. Six investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $105.64.
Columbia Sportswear Profile
Columbia Sportswear Company, together with its subsidiaries, designs, sources, markets, and distributes outdoor and active lifestyle apparel, footwear, accessories, and equipment in the United States, Latin America, the Asia Pacific, Europe, the Middle East and Africa, and Canada. The company provides apparel, accessories, and equipment that are used various outdoor activities, such as skiing, snowboarding, hiking, climbing, mountaineering, camping, hunting, fishing, trail running, water sports, yoga, golf, and adventure travel for men and women under the Columbia, Mountain Hardwear, SOREL, and prAna brands, as well as for youth under the Columbia brand name.
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