Top 5 Stock Picks of Kenneth Tropin’s Graham Capital Management

4. Academy Sports and Outdoors, Inc. (NASDAQ:ASO)

Graham Capital’s Stake Value: $37.55 million

Percent of 13F Portfolio: 1.91%

Number of Hedge Fund Holders: 45

Academy Sports and Outdoors, Inc. (NASDAQ:ASO) manufactures and sells sporting goods and outdoor recreational products in the US. Based in Texas, Academy Sports and Outdoors, Inc. (NASDAQ:ASO) operates 259 retail stores in 16 states of the US.

As of the end of the second quarter of 2021, Graham Management Capital held 938,333 shares in Academy Sports and Outdoors, Inc. (NASDAQ:ASO), valued at $37.55 million.

In the third quarter of 2021, the company posted an EPS of $2.34, beating the market consensus by $0.90. According to the database of Insider Monkey tracking 873 hedge funds, 45 hedge funds remained bullish on Academy Sports and Outdoors, Inc. (NASDAQ:ASO), having stakes worth $709 million.

On October 25, 2021, Wedbush initiated its coverage on Academy Sports and Outdoors, Inc. (NASDAQ:ASO) with a price target of $54 and kept an “Outperform” rating on the stocks.