Algert Global LLC Sells 22,801 Shares of Fox Factory Holding Corp. (NASDAQ:FOXF)

Algert Global LLC decreased its stake in shares of Fox Factory Holding Corp. (NASDAQ:FOXF) by 45.1% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,776 shares of the company’s stock after selling 22,801 shares during the quarter. Algert Global LLC owned about 0.07% of Fox Factory worth $1,339,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Fox Factory by 5.4% during the first quarter. Vanguard Group Inc. now owns 4,470,762 shares of the company’s stock worth $232,793,000 after buying an additional 228,339 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of Fox Factory by 25,005.1% in the 2nd quarter. Pacer Advisors Inc. now owns 1,585,136 shares of the company’s stock valued at $76,388,000 after purchasing an additional 1,578,822 shares during the period. Clearbridge Investments LLC lifted its stake in Fox Factory by 0.6% in the 1st quarter. Clearbridge Investments LLC now owns 1,230,987 shares of the company’s stock valued at $64,097,000 after purchasing an additional 7,468 shares during the last quarter. William Blair Investment Management LLC bought a new position in Fox Factory during the second quarter worth about $53,294,000. Finally, Van Berkom & Associates Inc. increased its position in Fox Factory by 1.5% during the second quarter. Van Berkom & Associates Inc. now owns 913,452 shares of the company’s stock worth $44,019,000 after buying an additional 13,936 shares during the last quarter.

Insider Activity

In other news, CEO Michael C. Dennison bought 4,800 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was acquired at an average price of $41.44 per share, with a total value of $198,912.00. Following the completion of the purchase, the chief executive officer now directly owns 135,066 shares of the company’s stock, valued at $5,597,135.04. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.30% of the company’s stock.

Fox Factory Trading Down 2.6 %

Shares of NASDAQ FOXF opened at $39.32 on Friday. The stock has a market cap of $1.64 billion, a P/E ratio of 21.97, a price-to-earnings-growth ratio of 2.92 and a beta of 1.63. Fox Factory Holding Corp. has a 52-week low of $34.56 and a 52-week high of $97.36. The firm has a 50 day moving average price of $41.65 and a two-hundred day moving average price of $44.61. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.63 and a current ratio of 3.13.

Fox Factory (NASDAQ:FOXF) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.03. Fox Factory had a return on equity of 7.66% and a net margin of 3.07%. The company had revenue of $348.49 million during the quarter, compared to analysts’ expectations of $346.22 million. During the same quarter in the prior year, the firm posted $1.21 earnings per share. The business’s quarterly revenue was down 13.0% on a year-over-year basis. As a group, equities analysts forecast that Fox Factory Holding Corp. will post 1.56 EPS for the current year.

Analysts Set New Price Targets

FOXF has been the subject of several research reports. Truist Financial cut their price target on Fox Factory from $55.00 to $54.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Robert W. Baird cut their target price on Fox Factory from $48.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. B. Riley reduced their price target on shares of Fox Factory from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, Bank of America decreased their target price on Fox Factory from $53.00 to $43.00 and set a “neutral” rating on the stock in a research report on Thursday, September 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Fox Factory currently has an average rating of “Hold” and a consensus target price of $46.17.

Fox Factory Profile

Fox Factory Holding Corp. designs, engineers, manufactures, and markets performance-defining products and system worldwide. The company offers powered vehicle products for side-by-side vehicles, on-road vehicles with and without off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, and specialty vehicles and applications, such as military, motorcycles, and commercial trucks; lift kits and components with shock products and aftermarket accessory packages for trucks; and mid-end and high-end front fork and rear suspension products.