Escalade (NASDAQ:ESCA) Shares Pass Below 200-Day Moving Average – Here’s What Happened

Escalade, Incorporated (NASDAQ:ESCA)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $13.98 and traded as low as $12.50. Escalade shares last traded at $12.54, with a volume of 16,512 shares traded.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered Escalade from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th.

Escalade Price Performance

The company has a market capitalization of $173.05 million, a price-to-earnings ratio of 13.78 and a beta of 0.67. The company has a 50-day moving average price of $12.58 and a 200-day moving average price of $13.98. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.79 and a current ratio of 4.15.

Escalade (NASDAQ:ESCA) last posted its earnings results on Friday, August 1st. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.23 by ($0.10). The company had revenue of $54.33 million for the quarter, compared to analyst estimates of $60.03 million. Escalade had a return on equity of 6.86% and a net margin of 5.30%. On average, equities research analysts expect that Escalade, Incorporated will post 0.93 EPS for the current fiscal year.

Escalade Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 13th. Investors of record on Monday, October 6th will be given a $0.15 dividend. The ex-dividend date is Monday, October 6th. This represents a $0.60 annualized dividend and a dividend yield of 4.8%. Escalade’s payout ratio is currently 65.93%.

Insider Activity

In related news, Director Richard Fenton Baalmann, Jr. sold 4,800 shares of the business’s stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $12.29, for a total value of $58,992.00. Following the completion of the transaction, the director directly owned 110,394 shares in the company, valued at approximately $1,356,742.26. The trade was a 4.17% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 28.75% of the company’s stock.

Hedge Funds Weigh In On Escalade

Several institutional investors and hedge funds have recently modified their holdings of the business. Raymond James Financial Inc. acquired a new position in shares of Escalade in the 2nd quarter valued at approximately $29,000. Police & Firemen s Retirement System of New Jersey acquired a new position in shares of Escalade in the 2nd quarter valued at approximately $32,000. Bank of America Corp DE grew its position in shares of Escalade by 17.0% in the 4th quarter. Bank of America Corp DE now owns 17,269 shares of the company’s stock valued at $247,000 after purchasing an additional 2,510 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Escalade by 439.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,622 shares of the company’s stock valued at $51,000 after purchasing an additional 2,950 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Escalade by 2.1% in the 2nd quarter. Geode Capital Management LLC now owns 221,456 shares of the company’s stock valued at $3,096,000 after purchasing an additional 4,455 shares during the period. 65.22% of the stock is currently owned by institutional investors and hedge funds.

Escalade Company Profile

Escalade, Incorporated, together with its subsidiaries, manufactures, distributes, imports, and sells sporting goods in North America, Europe, and internationally. The company provides various sporting goods brands in basketball goals, archery, indoor and outdoor game recreation, and fitness products.