Hudson Edge Investment Partners Inc. Buys New Position in Fox Factory Holding Corp. (NASDAQ:FOXF)

Hudson Edge Investment Partners Inc. purchased a new stake in Fox Factory Holding Corp. (NASDAQ:FOXF) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 10,621 shares of the company’s stock, valued at approximately $512,000.

Other hedge funds have also added to or reduced their stakes in the company. Quest Partners LLC bought a new stake in shares of Fox Factory during the 4th quarter valued at about $31,000. YHB Investment Advisors Inc. purchased a new position in shares of Fox Factory during the 1st quarter worth approximately $42,000. TFO Wealth Partners LLC raised its position in shares of Fox Factory by 14,180.0% in the 4th quarter. TFO Wealth Partners LLC now owns 714 shares of the company’s stock worth $48,000 after acquiring an additional 709 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of Fox Factory by 26.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,245 shares of the company’s stock valued at $60,000 after purchasing an additional 261 shares during the period. Finally, Covestor Ltd boosted its position in shares of Fox Factory by 31.8% during the first quarter. Covestor Ltd now owns 1,518 shares of the company’s stock valued at $79,000 after purchasing an additional 366 shares in the last quarter.

Insider Transactions at Fox Factory

In related news, CEO Michael C. Dennison bought 4,800 shares of the stock in a transaction on Tuesday, August 6th. The shares were acquired at an average price of $41.44 per share, for a total transaction of $198,912.00. Following the purchase, the chief executive officer now owns 135,066 shares of the company’s stock, valued at $5,597,135.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Thomas L. Fletcher sold 2,000 shares of Fox Factory stock in a transaction on Monday, June 10th. The stock was sold at an average price of $44.41, for a total value of $88,820.00. Following the completion of the sale, the insider now owns 11,311 shares of the company’s stock, valued at $502,321.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael C. Dennison bought 4,800 shares of the stock in a transaction on Tuesday, August 6th. The stock was purchased at an average cost of $41.44 per share, for a total transaction of $198,912.00. Following the acquisition, the chief executive officer now owns 135,066 shares of the company’s stock, valued at approximately $5,597,135.04. The disclosure for this purchase can be found here. Company insiders own 0.30% of the company’s stock.

Fox Factory Stock Down 3.1 %

Fox Factory stock traded down $1.24 during mid-day trading on Friday, reaching $38.42. The stock had a trading volume of 357,503 shares, compared to its average volume of 599,029. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 2.76 and a beta of 1.63. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.13 and a quick ratio of 1.63. Fox Factory Holding Corp. has a one year low of $37.48 and a one year high of $106.17. The company has a 50-day moving average price of $44.37 and a two-hundred day moving average price of $46.06.

Fox Factory (NASDAQ:FOXF) last announced 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. The company had revenue of $348.49 million during the quarter, compared to the consensus estimate of $346.22 million. Fox Factory had a net margin of 3.07% and a return on equity of 7.66%. The firm’s quarterly revenue was down 13.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.21 earnings per share. On average, analysts expect that Fox Factory Holding Corp. will post 1.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on FOXF shares. Truist Financial decreased their price objective on Fox Factory from $55.00 to $54.00 and set a “buy” rating for the company in a report on Friday, August 2nd. B. Riley lowered their price target on shares of Fox Factory from $50.00 to $45.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Robert W. Baird cut their price objective on shares of Fox Factory from $48.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $47.00.

Fox Factory Company 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.