Malaga Cove Capital LLC Buys 3,631 Shares of Fox Factory Holding Corp. (NASDAQ:FOXF)

Malaga Cove Capital LLC increased its stake in Fox Factory Holding Corp. (NASDAQ:FOXF) by 63.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,379 shares of the company’s stock after purchasing an additional 3,631 shares during the period. Malaga Cove Capital LLC’s holdings in Fox Factory were worth $452,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Fox Factory by 5.4% in the first quarter. Vanguard Group Inc. now owns 4,470,762 shares of the company’s stock valued at $232,793,000 after purchasing an additional 228,339 shares in the last quarter. Clearbridge Investments LLC raised its position in Fox Factory by 0.6% in the 1st quarter. Clearbridge Investments LLC now owns 1,230,987 shares of the company’s stock valued at $64,097,000 after buying an additional 7,468 shares during the last quarter. Van Berkom & Associates Inc. lifted its stake in Fox Factory by 1.5% in the 2nd quarter. Van Berkom & Associates Inc. now owns 913,452 shares of the company’s stock valued at $44,019,000 after acquiring an additional 13,936 shares in the last quarter. Dimensional Fund Advisors LP boosted its position 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 acquiring an additional 12,474 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Fox Factory during the 4th quarter worth approximately $31,429,000.

Insider Buying and Selling

In related news, CEO Michael C. Dennison acquired 4,800 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were bought at an average cost of $41.44 per share, for a total transaction of $198,912.00. Following the completion of the transaction, the chief executive officer now owns 135,066 shares in the company, valued at $5,597,135.04. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.30% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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

Fox Factory Stock Down 4.4 %

Shares of NASDAQ:FOXF opened at $36.74 on Tuesday. The firm has a market cap of $1.53 billion, a P/E ratio of 20.53, a P/E/G ratio of 2.62 and a beta of 1.63. The business has a fifty day simple moving average of $44.15 and a 200 day simple moving average of $45.73. 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 Holding Corp. has a 12-month low of $36.71 and a 12-month high of $105.38.

Fox Factory (NASDAQ:FOXF) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. The company had revenue of $348.49 million for the quarter, compared to analysts’ expectations of $346.22 million. Fox Factory had a net margin of 3.07% and a return on equity of 7.66%. The business’s revenue was down 13.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.21 EPS. Analysts predict that Fox Factory Holding Corp. will post 1.56 earnings per share for the current year.

Fox Factory 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.