Quantbot Technologies LP Reduces Stock Position in Fox Factory Holding Corp. $FOXF

Quantbot Technologies LP trimmed its holdings in Fox Factory Holding Corp. (NASDAQ:FOXF) by 76.5% in the third quarter, Holdings Channel reports. The institutional investor owned 12,471 shares of the company’s stock after selling 40,634 shares during the quarter. Quantbot Technologies LP’s holdings in Fox Factory were worth $303,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of FOXF. Geode Capital Management LLC lifted its position in shares of Fox Factory by 2.4% during the second quarter. Geode Capital Management LLC now owns 1,039,477 shares of the company’s stock worth $26,967,000 after acquiring an additional 24,156 shares in the last quarter. Divisadero Street Capital Management LP bought a new position in shares of Fox Factory in the second quarter worth $21,228,000. Nantahala Capital Management LLC grew its position in shares of Fox Factory by 15.9% in the second quarter. Nantahala Capital Management LLC now owns 728,648 shares of the company’s stock valued at $18,901,000 after purchasing an additional 100,000 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Fox Factory by 3.3% during the 2nd quarter. Bank of America Corp DE now owns 486,290 shares of the company’s stock valued at $12,614,000 after purchasing an additional 15,417 shares during the period. Finally, Millennium Management LLC raised its stake in shares of Fox Factory by 18.7% during the 1st quarter. Millennium Management LLC now owns 464,493 shares of the company’s stock valued at $10,841,000 after purchasing an additional 73,090 shares during the period.

Fox Factory Price Performance

FOXF stock opened at $16.35 on Wednesday. The firm has a 50 day simple moving average of $18.57 and a two-hundred day simple moving average of $20.45. The stock has a market cap of $683.45 million, a PE ratio of -1.25 and a beta of 1.50. Fox Factory Holding Corp. has a one year low of $13.08 and a one year high of $31.18. The company has a debt-to-equity ratio of 0.96, a current ratio of 2.86 and a quick ratio of 1.37.

Fox Factory (NASDAQ:FOXF) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06. Fox Factory had a negative net margin of 37.11% and a positive return on equity of 5.06%. The firm had revenue of $361.07 million for the quarter, compared to analysts’ expectations of $353.88 million. During the same quarter last year, the company posted $0.31 EPS. The business’s quarterly revenue was up 2.3% on a year-over-year basis. On average, analysts predict that Fox Factory Holding Corp. will post 1.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on FOXF shares. CJS Securities upgraded Fox Factory to a “strong-buy” rating in a research note on Thursday, December 11th. Weiss Ratings reiterated a “sell (d)” rating on shares of Fox Factory in a research report on Thursday, January 22nd. Zacks Research raised shares of Fox Factory from a “strong sell” rating to a “hold” rating in a report on Thursday, March 5th. Finally, Roth Mkm cut their price objective on shares of Fox Factory from $21.00 to $19.00 and set a “neutral” rating for the company in a research report on Tuesday, January 6th. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Fox Factory presently has a consensus rating of “Hold” and a consensus price target of $28.60.

Fox Factory Profile

Fox Factory Holding Corp., headquartered in Duluth, Minnesota, designs, engineers and manufactures high-performance suspension systems, shock absorbers and related components for powersports, light-vehicle and mountain-bike applications. The company’s FOX brand offers a comprehensive portfolio of forks, shocks, coilovers and internal bypass dampers aimed at OEM and aftermarket customers seeking enhanced ride quality, control and durability across off-road vehicles, motorcycles and bicycles.

Founded in 1974 by Bob Fox in California, Fox Factory has expanded its technology base and market reach through strategic acquisitions such as Marzocchi Suspension, DVO Suspension and Walker Evans Racing.