Stock On Watch: Learn Why Paul Singer’s Elliott Associates Just Purchased Cabelas Inc Stake?

Stock On Watch: Learn Why Paul Singer's Elliott Associates Just Purchased Cabelas Inc Stake?

The New Paul Singer’s Elliott Associates Holding in Cabelas Inc

Elliott Associates filed with the SEC SC 13D/A form for Cabelas Inc. The form can be accessed here: 000101359416001253. As reported in Paul Singer’s Elliott Associates’s form, the filler as of late owns 2.7% or 1,862,520 shares of the Consumer Discretionary–company.

Cabelas Inc stake is a new one for the for the hedge fund and it was filed because of activity on October 3, 2016. We feel this shows Paul Singer’s Elliott Associates’s positive view for the stock.

The hedge fund is active investor in the Finance sector. In the manager’s last 13-F, we saw 25% of Paul Singer’s Elliott Associates’s US equities portfolio is in this sector.

Cabelas Inc Institutional Sentiment

Latest Security and Exchange filings show 255 investors own Cabelas Inc. The institutional ownership in Q3 2015 is very high, at 102.61% of the outstanding shares. This is increased by 15258585 the total institutional shares. 70259320 were the shares owned by these institutional investors. In total 36 funds opened new Cabelas Inc stakes, 112 increased stakes. There were 52 that closed positions and 61 reduced them.

8 managers had the stock in their top Ten. Notable investors are: 13D Management Llc, Shapiro Capital Management Llc, Beddow Capital Management Inc, Matthew 25 Management Corp, Meridian Investment Counsel Inc., Private Capital Management Llc..

Matthew 25 Management Corp is an institutional investor bullish on Cabelas Inc, owning 925000 shares as of Q3 2015 for 7.72% of its portfolio. Cooper Creek Partners Management Llc owns 127028 shares or 5.84% of its portfolio. NE Mccarthy Capital Corp have 100.00% of their stock portfolio for 1513916 shares. Further, Beddow Capital Management Inc reported stake worth 5.37% of its US stock portfolio. The TX Hirzel Capital Management Llc owns 1474020 shares. Cabelas Inc is 9.56% of the manager’s US portfolio.

Business Profile

Cabela’s Incorporated is a specialty retailer and a direct marketer of hunting, fishing, camping and related outdoor merchandise. The Company offers national and regional brand products, including its Cabela’s brand. The Company’s segments include Retail, Direct, Financial Services, and Corporate Overhead and Other. The Retail segment sells products and services through its retail stores. The Retail segment enables customers to access and use its retail stores, Web and social media channels, and catalogs. The Direct segment sells products through its e-commerce Websites (Cabelas.com and Cabelas.ca) and direct mail catalogs. The Financial Services segment issues co-branded credit cards and provides customers with a rewards program. Its products include merchandise and equipment for hunting, fishing, marine use and camping, along with casual and outdoor apparel and footwear, optics, vehicle accessories, and gifts and home furnishings with an outdoor theme.

SEC Form 13D is filed within 10 days, by anyone who acquires beneficial ownership of 5%+ of any public firm. Activist investors and practices such as: company breakups, hostile takeovers, and change of control events, are permitted for this form filers. A filer must promptly update its 13D filing in case of acquisition or disposition of 1% or more of the securities that are the subject of the filing.

Insitutional Activity: The institutional sentiment increased to 1.07 in 2016 Q2. Its up 0.33, from 0.74 in 2016Q1. The ratio improved, as 24 funds sold all Cabelas Inc shares owned while 81 reduced positions. 23 funds bought stakes while 89 increased positions. They now own 40.87 million shares or 5.30% less from 43.16 million shares in 2016Q1.

Voya Invest Mngmt Limited Liability Corporation last reported 0% of its portfolio in the stock. Pacad Invest Limited, a British Columbia – Canada-based fund reported 1,900 shares. Kbc Nv accumulated 0.01% or 11,720 shares. Sg Americas Limited Liability Com owns 13,628 shares or 0% of their US portfolio. The Illinois-based Whitnell And has invested 0% in Cabelas Inc (NYSE:CAB). Clinton Gp has invested 0.02% of its portfolio in Cabelas Inc (NYSE:CAB). Nelson Van Denburg And Campbell Wealth Group Ltd Liability Corp accumulated 0.34% or 15,792 shares. Trust Of Vermont last reported 100 shares in the company. Janus Cap Mngmt Ltd Liability Corp has 0% invested in the company for 8,216 shares. Renaissance Limited Liability Company owns 281,300 shares or 0.03% of their US portfolio. Highbridge Cap accumulated 0.11% or 135,117 shares. Parametric Limited Com accumulated 0.01% or 88,634 shares. Hap Trading Llc holds 0.08% of its portfolio in Cabelas Inc (NYSE:CAB) for 26,748 shares. Paloma Prtnrs holds 0.04% or 70,525 shares in its portfolio. Louisiana State Employees Retirement has 12,900 shares for 0.03% of their US portfolio.

Analysts await Cabelas Inc (NYSE:CAB) to report earnings on October, 27. They expect $0.80 EPS, up 12.68% or $0.09 from last year’s $0.71 per share. CAB’s profit will be $54.85M for 19.83 P/E if the $0.80 EPS becomes a reality. After $0.59 actual EPS reported by Cabelas Inc for the previous quarter, Wall Street now forecasts 35.59% EPS growth.

About 8.44M shares traded hands or 405.39% up from the average. Cabelas Inc (NYSE:CAB) has risen 30.91% since March 2, 2016 and is uptrending. It has outperformed by 22.65% the S&P500.

Cabela’s Incorporated is a specialty retailer and a direct marketer of hunting, fishing, camping and related outdoor merchandise. The company has a market cap of $4.35 billion. The Firm offers national and regional brand products, including its Cabela’s brand. It has a 23.98 P/E ratio. The Company’s divisions include Retail, Direct, Financial Services, and Corporate Overhead and Other.

Cabelas Inc (NYSE:CAB) Ratings Coverage

Out of 15 analysts covering Cabela’s (NYSE:CAB), 5 rate it a “Buy”, 0 “Sell”, while 10 “Hold”. This means 33% are positive. $64 is the highest target while $38 is the lowest. The $50.44 average target is -20.50% below today’s ($63.45) stock price. Cabela’s has been the topic of 23 analyst reports since July 27, 2015 according to StockzIntelligence Inc. As per Tuesday, February 16, the company rating was maintained by DA Davidson. On Monday, October 3 the stock rating was downgraded by Feltl & Co to “Hold”. The firm has “Mkt Perform” rating given on Friday, October 23 by Raymond James. DA Davidson maintained the stock with “Neutral” rating in Thursday, December 3 report. Credit Suisse downgraded the shares of CAB in a report on Thursday, October 22 to “Neutral” rating. The firm earned “Overweight” rating on Wednesday, November 4 by Barclays Capital. The company was downgraded on Friday, October 23 by Wells Fargo. The firm has “Neutral” rating given on Friday, October 23 by Goldman Sachs. The firm has “Buy” rating by M Partners given on Friday, July 24. The stock has “Buy” rating given by DA Davidson on Thursday, September 3.

More notable recent Cabelas Inc (NYSE:CAB) news were published by: Reuters.com which released: “Bass Pro Shops hooks Cabela’s in $5.5 billion deal” on October 03, 2016, also Investorplace.com with their article: “Why Cabelas Inc (CAB), Janus Capital Group Inc (JNS) And Twitter Inc (TWTR …” published on October 03, 2016, Bizjournals.com published: “What will happen to area Bass Pro, Cabela’s locations?” on October 04, 2016. More interesting news about Cabelas Inc (NYSE:CAB) were released by: Investorplace.com and their article: “3 Stocks to Watch on Monday: Cabelas Inc (CAB), Deutsche Bank AG (USA) (DB …” published on October 03, 2016 as well as Businesswire.com‘s news article titled: “SHAREHOLDER ALERT: Brower Piven Commences An Investigation Into The Proposed …” with publication date: October 04, 2016.

According to Zacks Investment Research, “Cabelas Inc is the nation’s largest direct marketer, and a leading specialty retailer, of hunting, fishing, camping and related outdoor merchandise.”

CAB Company Profile

Cabela’s Incorporated, incorporated on December 17, 2003, is a specialty retailer and a direct marketer of hunting, fishing, camping and related outdoor merchandise. The Firm offers national and regional brand products, including its Cabela’s brand. The Company’s divisions include Retail, Direct, Financial Services, and Corporate Overhead and Other. The Company’s products include merchandise and equipment for hunting, fishing, marine use and camping, along with casual and outdoor apparel and footwear, optics, vehicle accessories, and gifts and home furnishings with an outdoor theme. The hunting equipment merchandise includes a range of firearms, ammunition, optics, archery products, and related accessories and supplies for hunting and sport shooting. The general outdoors merchandise category includes a range of equipment and accessories supporting outdoor activities, including fishing and tackle products; a range of boats, electronics and marine accessories and equipment; camping gear and equipment for various experience levels of outdoor enthusiasts; food preparation and outdoor cooking products; all-terrain vehicles and accessories for automobiles and all-terrain vehicles, and gifts and home furnishings. The clothing and footwear merchandise category includes fieldwear apparel and footwear, sportswear apparel and footwear, including technical gear for the active outdoor enthusiast, apparel and footwear for the casual customer, and workwear products.

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