Millennium Management LLC Acquires New Holdings in Fox Factory Holding Corp (FOXF)

Millennium Management LLC acquired a new stake in Fox Factory Holding Corp (NASDAQ:FOXF) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 13,063 shares of the company’s stock, valued at approximately $608,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Kessler Investment Group LLC acquired a new position in Fox Factory in the second quarter valued at approximately $144,000. Amalgamated Bank acquired a new position in Fox Factory in the second quarter valued at approximately $274,000. Hartford Investment Management Co. acquired a new position in Fox Factory in the second quarter valued at approximately $300,000. Xact Kapitalforvaltning AB acquired a new position in Fox Factory in the first quarter valued at approximately $252,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Fox Factory in the second quarter valued at approximately $371,000. Institutional investors and hedge funds own 97.60% of the company’s stock.

FOXF opened at $66.93 on Friday. The company has a current ratio of 2.10, a quick ratio of 1.19 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 34.26, a PEG ratio of 1.83 and a beta of 1.22. Fox Factory Holding Corp has a twelve month low of $33.20 and a twelve month high of $73.54.

Fox Factory (NASDAQ:FOXF) last posted its earnings results on Wednesday, October 31st. The company reported $0.72 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.66 by $0.06. The company had revenue of $175.80 million for the quarter, compared to analyst estimates of $173.33 million. Fox Factory had a net margin of 11.43% and a return on equity of 29.77%. The business’s revenue for the quarter was up 38.0% compared to the same quarter last year. During the same period last year, the business posted $0.46 earnings per share. Research analysts predict that Fox Factory Holding Corp will post 2.2 earnings per share for the current year.

Several equities analysts recently weighed in on FOXF shares. Bank of America increased their price objective on shares of Fox Factory from $53.00 to $60.00 and gave the company a “buy” rating in a report on Thursday, August 2nd. Jefferies Financial Group increased their price objective on shares of Fox Factory from $63.00 to $65.00 and gave the company a “buy” rating in a report on Thursday, August 2nd. BidaskClub lowered shares of Fox Factory from a “strong-buy” rating to a “buy” rating in a report on Thursday, October 11th. ValuEngine lowered shares of Fox Factory from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 24th. Finally, Zacks Investment Research upgraded shares of Fox Factory from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a report on Friday, November 2nd. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $63.83.

In other Fox Factory news, CEO Larry L. Enterline sold 22,401 shares of the stock in a transaction on Wednesday, September 12th. The shares were sold at an average price of $70.14, for a total value of $1,571,206.14. Following the sale, the chief executive officer now directly owns 60,519 shares in the company, valued at $4,244,802.66. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Larry L. Enterline sold 90,000 shares of the stock in a transaction on Friday, September 14th. The stock was sold at an average price of $68.82, for a total transaction of $6,193,800.00. Following the completion of the sale, the chief executive officer now owns 60,519 shares in the company, valued at $4,164,917.58. The disclosure for this sale can be found here. Over the last quarter, insiders sold 164,929 shares of company stock worth $11,255,573. Company insiders own 5.60% of the company’s stock.

ILLEGAL ACTIVITY WARNING: “Millennium Management LLC Acquires New Holdings in Fox Factory Holding Corp (FOXF)” was posted by WKRB News and is the sole property of of WKRB News. If you are accessing this story on another website, it was stolen and republished in violation of United States & international copyright & trademark legislation. The correct version of this story can be accessed at https://www.wkrb13.com/2018/11/10/millennium-management-llc-acquires-new-holdings-in-fox-factory-holding-corp-foxf.html.

Fox Factory Company Profile

Fox Factory Holding Corp. designs, engineers, manufactures, and markets ride dynamics products worldwide. The company offers front fork and rear suspension products for mountain bikes and road bikes; and powered vehicle products for side-by-side vehicles, on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles, snowmobiles, specialty vehicles and applications, and motorcycles.

Recommended Story: NASDAQ

Want to see what other hedge funds are holding FOXF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fox Factory Holding Corp (NASDAQ:FOXF).

Institutional Ownership by Quarter for Fox Factory (NASDAQ:FOXF)

Receive News & Ratings for Fox Factory Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fox Factory and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply