Marcus Brutus said:
oh no said:
their largest investors are also probably global woke funds at BlackRock, Vanguard, etc.
...but hey, at least they're not Dick's, who stopped selling firearms nationwide in 2020.
good call. Vanguard owns 9% and Blackrock owns 5.3%.
Not everything is activist investor/woke/ESG. Maybe, but maybe not.
What you mean is, investors own 9% through Vanguard Index Funds, and investors own 5.3% through Blackrock Funds. Most of us own it inside of our 401ks if we own Total Stock Market, Extended Market, Russell 2500 or a Mid Cap fund. The only activist investor of note is DE Shaw, and they only own ~2% of shares outstanding.
ASO is still unwinding their Private Equity ownership. A lot of the changes we're seeing in stores is likely relatable to they're now reporting to the public (i.e., institutional ownership) and not just a PE board.
Also, they've got very smart (business sense) leadership. I imagine they realize they don't want to play in the bargain bin AR world, and know they won't ever compete with LGSs with mid and high priced. Margins in guns has been squeezed, and with ammo availability/prices, I'd guess that's taken a toll on profits.