Thoroughbred Financial Services LLC Makes New Investment in Escalade, Incorporated (NASDAQ:ESCA)

Thoroughbred Financial Services LLC bought a new stake in shares of Escalade, Incorporated (NASDAQ:ESCA) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 1,120,994 shares of the company’s stock, valued at approximately $15,458,000. Escalade accounts for approximately 1.0% of Thoroughbred Financial Services LLC’s investment portfolio, making the stock its 18th biggest position. Thoroughbred Financial Services LLC owned about 0.08% of Escalade at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its holdings in shares of Escalade by 40.0% in the first quarter. BNP Paribas Financial Markets now owns 4,688 shares of the company’s stock worth $64,000 after buying an additional 1,340 shares in the last quarter. Victory Capital Management Inc. lifted its stake in Escalade by 40.6% in the 4th quarter. Victory Capital Management Inc. now owns 7,037 shares of the company’s stock worth $141,000 after purchasing an additional 2,033 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in Escalade in the 1st quarter worth $199,000. Janney Montgomery Scott LLC boosted its holdings in shares of Escalade by 6.2% during the 4th quarter. Janney Montgomery Scott LLC now owns 23,614 shares of the company’s stock valued at $474,000 after purchasing an additional 1,369 shares during the last quarter. Finally, Prosperity Consulting Group LLC purchased a new position in shares of Escalade during the first quarter valued at about $484,000. 65.22% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Escalade from a “buy” rating to a “hold” rating in a research report on Wednesday.

Escalade Stock Up 1.7 %

Shares of ESCA opened at $14.72 on Friday. The company has a debt-to-equity ratio of 0.22, a current ratio of 4.60 and a quick ratio of 1.74. The stock has a market capitalization of $204.02 million, a price-to-earnings ratio of 16.18 and a beta of 1.22. Escalade, Incorporated has a 1 year low of $12.34 and a 1 year high of $22.01. The business’s 50 day simple moving average is $13.78 and its 200-day simple moving average is $13.61.

Escalade (NASDAQ:ESCA) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.20 earnings per share (EPS) for the quarter. Escalade had a net margin of 4.55% and a return on equity of 7.16%. The company had revenue of $62.53 million for the quarter. As a group, equities analysts expect that Escalade, Incorporated will post 0.85 earnings per share for the current fiscal year.

Escalade Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 14th. Investors of record on Monday, October 7th will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date of this dividend is Monday, October 7th. Escalade’s payout ratio is 65.93%.

Escalade 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.