Short Interest in Adidas AG (OTCMKTS:ADDYY) Declines By 75.5%

Adidas AG (OTCMKTS:ADDYY) saw a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 17,747 shares, a drop of 75.5% from the May 14th total of 72,481 shares. Based on an average trading volume of 110,983 shares, the short-interest ratio is currently 0.2 days. Approximately 0.0% of the shares of the company are sold short.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Adidas stock. Madison Asset Management LLC raised its holdings in shares of Adidas AG (OTCMKTS:ADDYY) by 7.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,125 shares of the company’s stock after buying an additional 1,582 shares during the period. Madison Asset Management LLC’s holdings in Adidas were worth $1,935,000 at the end of the most recent reporting period.

Adidas Trading Up 2.3%

Shares of ADDYY stock opened at $96.93 on Wednesday. The stock has a market cap of $34.64 billion, a price-to-earnings ratio of 21.35, a price-to-earnings-growth ratio of 1.30 and a beta of 1.26. The company has a quick ratio of 0.68, a current ratio of 1.32 and a debt-to-equity ratio of 0.33. Adidas has a fifty-two week low of $75.19 and a fifty-two week high of $125.69. The firm’s 50 day moving average price is $85.95 and its two-hundred day moving average price is $88.94.

Adidas (OTCMKTS:ADDYY) last announced its quarterly earnings results on Wednesday, April 29th. The company reported $1.58 earnings per share for the quarter, beating analysts’ consensus estimates of $1.53 by $0.05. The firm had revenue of $7.71 billion for the quarter, compared to analysts’ expectations of $7.36 billion. Adidas had a net margin of 5.52% and a return on equity of 23.53%. On average, analysts anticipate that Adidas will post 5.49 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. Zacks Research upgraded shares of Adidas from a “strong sell” rating to a “hold” rating in a research note on Monday, May 4th. Royal Bank Of Canada restated a “sector perform” rating on shares of Adidas in a research note on Tuesday, May 5th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $146.02.

About Adidas

Adidas AG is a global designer, manufacturer and marketer of athletic footwear, apparel and accessories, headquartered in Herzogenaurach, Germany. Founded by Adolf “Adi” Dassler in 1949, the company has grown into one of the world’s leading sportswear brands, offering products for running, soccer, basketball and a wide range of other sports as well as lifestyle and fashion markets.

Adidas’s product portfolio includes performance footwear, sports apparel, team uniforms, equipment and accessories sold under the Adidas brand and through various collaborations.