Fox Factory Holding Corp (NASDAQ:FOXF) Short Interest Up 7.3% in June

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Fox Factory Holding Corp (NASDAQ:FOXF) was the target of a significant increase in short interest in June. As of June 30th, there was short interest totalling 1,421,900 shares, an increase of 7.3% from the May 30th total of 1,324,700 shares. Currently, 3.9% of the company’s shares are short sold. Based on an average daily trading volume, of 204,300 shares, the days-to-cover ratio is presently 7.0 days.

In related news, insider Christopher Tutton sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $75.94, for a total value of $151,880.00. Following the sale, the insider now directly owns 30,445 shares of the company’s stock, valued at $2,311,993.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Zvi Glasman sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $82.50, for a total transaction of $412,500.00. Following the completion of the sale, the chief financial officer now directly owns 20,284 shares in the company, valued at $1,673,430. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 116,865 shares of company stock valued at $8,055,306. Insiders own 2.30% of the company’s stock.

A number of hedge funds have recently made changes to their positions in FOXF. Nisa Investment Advisors LLC acquired a new position in Fox Factory during the first quarter valued at approximately $31,000. Huntington National Bank acquired a new position in Fox Factory during the first quarter valued at approximately $33,000. Bronfman E.L. Rothschild L.P. lifted its position in Fox Factory by 751.3% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 647 shares of the company’s stock valued at $38,000 after buying an additional 571 shares in the last quarter. Private Capital Group LLC lifted its position in Fox Factory by 78.0% during the first quarter. Private Capital Group LLC now owns 557 shares of the company’s stock valued at $39,000 after buying an additional 244 shares in the last quarter. Finally, Mckinley Capital Management LLC Delaware acquired a new position in Fox Factory during the first quarter valued at approximately $62,000. 99.73% of the stock is currently owned by hedge funds and other institutional investors.

Shares of FOXF stock opened at $81.57 on Wednesday. The firm has a market capitalization of $3.11 billion, a PE ratio of 36.74, a price-to-earnings-growth ratio of 1.90 and a beta of 1.35. The company has a current ratio of 2.39, a quick ratio of 1.29 and a debt-to-equity ratio of 0.19. Fox Factory has a fifty-two week low of $47.15 and a fifty-two week high of $85.04. The firm’s 50 day simple moving average is $76.63.

Fox Factory (NASDAQ:FOXF) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.07. The firm had revenue of $161.70 million for the quarter, compared to analysts’ expectations of $156.30 million. Fox Factory had a net margin of 12.43% and a return on equity of 30.57%. Fox Factory’s revenue was up 24.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 earnings per share. On average, research analysts anticipate that Fox Factory will post 2.6 earnings per share for the current fiscal year.

Several equities research analysts recently issued reports on FOXF shares. SunTrust Banks raised their target price on shares of Markel to $1,100.00 and gave the stock a “hold” rating in a research report on Thursday, May 2nd. Zacks Investment Research raised shares of HB Fuller from a “sell” rating to a “hold” rating in a research report on Wednesday, July 3rd. Finally, BidaskClub cut shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Thursday, July 11th. Five investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Fox Factory has an average rating of “Buy” and a consensus target price of $69.17.

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.

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