Adidas AG (OTCMKTS:ADDYY) Sees Significant Increase in Short Interest

Adidas AG (OTCMKTS:ADDYY) was the target of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 66,100 shares, a growth of 60.4% from the August 31st total of 41,200 shares. Based on an average trading volume of 171,200 shares, the short-interest ratio is currently 0.4 days. Based on an average trading volume of 171,200 shares, the short-interest ratio is currently 0.4 days.

Hedge Funds Weigh In On Adidas

A number of institutional investors have recently modified their holdings of the company. Rhumbline Advisers raised its position in Adidas by 7.9% in the 1st quarter. Rhumbline Advisers now owns 9,655 shares of the company’s stock valued at $1,139,000 after buying an additional 709 shares during the last quarter. GAMMA Investing LLC grew its stake in Adidas by 17.8% in the 1st quarter. GAMMA Investing LLC now owns 1,057 shares of the company’s stock valued at $125,000 after purchasing an additional 160 shares during the period. Yousif Capital Management LLC grew its stake in Adidas by 9.4% in the 2nd quarter. Yousif Capital Management LLC now owns 5,221 shares of the company’s stock valued at $607,000 after purchasing an additional 450 shares during the period. Finally, Mar Vista Investment Partners LLC grew its stake in Adidas by 4.0% in the 2nd quarter. Mar Vista Investment Partners LLC now owns 30,337 shares of the company’s stock valued at $3,550,000 after purchasing an additional 1,180 shares during the period.

Adidas Trading Down 1.2%

OTCMKTS ADDYY opened at $108.89 on Wednesday. The company has a market cap of $38.88 billion, a price-to-earnings ratio of 29.67, a P/E/G ratio of 0.59 and a beta of 1.22. Adidas has a 52 week low of $94.33 and a 52 week high of $137.73. The business has a 50 day moving average price of $101.85 and a 200-day moving average price of $112.51. The company has a quick ratio of 0.72, a current ratio of 1.29 and a debt-to-equity ratio of 0.31.

Adidas (OTCMKTS:ADDYY) last issued its earnings results on Wednesday, July 30th. The company reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.02. Adidas had a return on equity of 20.68% and a net margin of 4.93%.The company had revenue of $6.86 billion for the quarter, compared to analyst estimates of $6.30 billion. As a group, equities analysts expect that Adidas will post 2.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Jefferies Financial Group raised Adidas from a “hold” rating to a “buy” rating in a research note on Wednesday, September 3rd. Three equities research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Buy”.

About Adidas

adidas AG, together with its subsidiaries, designs, develops, produces, and markets athletic and sports lifestyle products in Europe, the Middle East, Africa, North America, Greater China, the Asia-Pacific, and Latin America. It offers footwear, apparel, and accessories and gear, such as bags and balls under the adidas brand; golf footwear and apparel under the adidas Golf brand; and outdoor footwear under the Five Ten brand.