Kayne Anderson Rudnick Investment Management LLC Sells 95,183 Shares of Fox Factory Holding Corp. (NASDAQ:FOXF)

Kayne Anderson Rudnick Investment Management LLC lessened its position in Fox Factory Holding Corp. (NASDAQ:FOXF) by 2.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,143,252 shares of the company’s stock after selling 95,183 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned approximately 9.96% of Fox Factory worth $199,663,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its holdings in Fox Factory by 1.5% during the 4th quarter. Dimensional Fund Advisors LP now owns 821,862 shares of the company’s stock worth $55,461,000 after buying an additional 12,474 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Fox Factory by 1.0% during the fourth quarter. Principal Financial Group Inc. now owns 162,319 shares of the company’s stock worth $10,953,000 after acquiring an additional 1,640 shares during the period. Vanguard Personalized Indexing Management LLC lifted its position in Fox Factory by 61.6% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 6,531 shares of the company’s stock valued at $441,000 after acquiring an additional 2,490 shares in the last quarter. Norges Bank acquired a new position in Fox Factory in the 4th quarter worth $31,429,000. Finally, Quest Partners LLC bought a new position in Fox Factory during the 4th quarter worth about $31,000.

Insider Buying and Selling at Fox Factory

In other Fox Factory news, CEO Michael C. Dennison bought 4,800 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were purchased at an average price of $41.44 per share, for a total transaction of $198,912.00. Following the completion of the transaction, the chief executive officer now directly owns 135,066 shares in the company, valued at approximately $5,597,135.04. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.30% of the company’s stock.

Fox Factory Price Performance

Shares of Fox Factory stock opened at $43.01 on Friday. The company has a 50-day simple moving average of $42.74 and a two-hundred day simple moving average of $45.11. Fox Factory Holding Corp. has a twelve month low of $34.56 and a twelve month high of $100.82. The stock has a market capitalization of $1.79 billion, a price-to-earnings ratio of 24.03, a price-to-earnings-growth ratio of 2.48 and a beta of 1.63. The company has a quick ratio of 1.63, a current ratio of 3.13 and a debt-to-equity ratio of 0.61.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings data 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 firm had revenue of $348.49 million during the quarter, compared to analysts’ expectations of $346.22 million. Fox Factory had a return on equity of 7.66% and a net margin of 3.07%. The company’s quarterly revenue was down 13.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.21 EPS. Analysts forecast that Fox Factory Holding Corp. will post 1.56 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. B. Riley lowered 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 note on Friday, August 2nd. Robert W. Baird dropped their target price on Fox Factory from $48.00 to $45.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Truist Financial decreased their price target on Fox Factory from $55.00 to $54.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Finally, Bank of America lowered their price target 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 research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $46.17.

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.