Pinebridge Investments L.P. Grows Holdings in Fox Factory Holding Corp (FOXF)
Pinebridge Investments L.P. raised its stake in Fox Factory Holding Corp (NASDAQ:FOXF) by 234.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,537 shares of the company’s stock after purchasing an additional 10,892 shares during the period. Pinebridge Investments L.P.’s holdings in Fox Factory were worth $603,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. Ameritas Investment Partners Inc. increased its holdings in shares of Fox Factory by 76.4% in the second quarter. Ameritas Investment Partners Inc. now owns 3,076 shares of the company’s stock valued at $110,000 after purchasing an additional 1,332 shares during the last quarter. Amalgamated Bank acquired a new position in shares of Fox Factory in the third quarter valued at $209,000. Polen Capital Management LLC acquired a new position in shares of Fox Factory in the third quarter valued at about $225,000. State Board of Administration of Florida Retirement System acquired a new position in shares of Fox Factory in the third quarter valued at about $230,000. Finally, Aperio Group LLC acquired a new position in shares of Fox Factory in the third quarter valued at about $237,000. Hedge funds and other institutional investors own 98.07% of the company’s stock.
In related news, CEO Larry L. Enterline sold 75,000 shares of the company’s stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $38.08, for a total transaction of $2,856,000.00. Following the completion of the sale, the chief executive officer now owns 124,934 shares of the company’s stock, valued at $4,757,486.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Zvi Glasman sold 10,000 shares of the company’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $39.37, for a total transaction of $393,700.00. Following the sale, the chief financial officer now directly owns 160,331 shares of the company’s stock, valued at approximately $6,312,231.47. The disclosure for this sale can be found here. Insiders have sold 100,000 shares of company stock valued at $3,845,500 in the last ninety days. 21.40% of the stock is currently owned by company insiders.
Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings data on Tuesday, February 27th. The company reported $0.38 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.05. Fox Factory had a net margin of 9.07% and a return on equity of 27.95%. The business had revenue of $121.09 million during the quarter, compared to analysts’ expectations of $118.84 million. research analysts anticipate that Fox Factory Holding Corp will post 1.78 EPS for the current fiscal year.
FOXF has been the topic of several research reports. DA Davidson upgraded shares of Fox Factory from a “neutral” rating to a “buy” rating in a research note on Thursday, February 8th. Zacks Investment Research downgraded shares of Fox Factory from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. BidaskClub upgraded shares of Fox Factory from a “strong sell” rating to a “sell” rating in a research note on Wednesday, January 24th. Stifel Nicolaus restated a “hold” rating and issued a $44.00 price target on shares of Fox Factory in a research note on Sunday, December 3rd. Finally, ValuEngine downgraded shares of Fox Factory from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $40.67.
Fox Factory Profile
Fox Factory Holding Corp. is engaged in the manufacturing, sale and service of ride dynamics products. The Company’s products fall into two categories: bikes, and powered vehicles, including side-by-sides, on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles (ATVs), snowmobiles, specialty vehicles and applications, and motorcycles.
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