Balentine LLC Purchases 80,000 Shares of Outdoor Holding Company (NASDAQ:POWW)

Balentine LLC lifted its position in shares of Outdoor Holding Company (NASDAQ:POWW) by 0.5% in the first quarter, HoldingsChannel.com reports. The fund owned 16,100,000 shares of the company’s stock after buying an additional 80,000 shares during the period. Outdoor comprises approximately 0.9% of Balentine LLC’s portfolio, making the stock its 11th biggest holding. Balentine LLC owned about 0.14% of Outdoor worth $22,218,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in POWW. Royce & Associates LP lifted its stake in Outdoor by 35.8% in the 4th quarter. Royce & Associates LP now owns 44,022 shares of the company’s stock valued at $48,000 after purchasing an additional 11,614 shares during the last quarter. Intech Investment Management LLC lifted its holdings in shares of Outdoor by 175.6% during the fourth quarter. Intech Investment Management LLC now owns 42,033 shares of the company’s stock worth $46,000 after purchasing an additional 26,783 shares during the period. Virtu Financial LLC acquired a new position in shares of Outdoor during the fourth quarter worth $80,000. Sei Investments Co. acquired a new position in shares of Outdoor during the fourth quarter worth $69,000. Finally, Prudential Financial Inc. acquired a new position in shares of Outdoor during the fourth quarter worth $41,000. Institutional investors own 26.40% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on POWW shares. Lake Street Capital decreased their price objective on shares of Outdoor from $3.00 to $2.00 and set a “buy” rating for the company in a research report on Monday, June 23rd. Wall Street Zen cut shares of Outdoor from a “hold” rating to a “sell” rating in a research report on Saturday, May 24th.

Outdoor Price Performance

POWW opened at $1.24 on Friday. The company’s 50-day moving average is $1.46 and its 200 day moving average is $1.53. Outdoor Holding Company has a fifty-two week low of $0.95 and a fifty-two week high of $2.14. The firm has a market capitalization of $145.22 million, a P/E ratio of -2.70 and a beta of 1.09.

About Outdoor

AMMO, Inc designs, produces, and markets ammunition and ammunition component products for sport and recreational shooters, hunters, individuals seeking home or personal protection, manufacturers, and law enforcement and military agencies. The company's products include STREAK Visual Ammunition that enables shooters to see the path of the bullets fired by them; and Stelth Subsonic ammunition primarily for suppressed firearms.