Kayne Anderson Rudnick Investment Management LLC Sells 911,689 Shares of Fox Factory Holding Corp. $FOXF

Key Points

• Kayne Anderson Rudnick Investment Management LLC significantly reduced its stake in Fox Factory by 50.6%, bringing its ownership to approximately 890,220 shares valued at about $20.78 million.
• Despite the stake reduction by Kayne Anderson, Bridges Investment Management Inc. increased its position in Fox Factory by 127.8%, showing mixed sentiment among investors regarding the company's future.
• Fox Factory's stock price performance has been strong, with shares increasing by 6.9% and a recent trading price of $30.35, alongside a positive revenue growth of 7.6% year-over-year.

Kayne Anderson Rudnick Investment Management LLC lowered its position in shares of Fox Factory Holding Corp. (NASDAQ:FOXF - Free Report) by 50.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 890,220 shares of the company's stock after selling 911,689 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 2.13% of Fox Factory worth $20,778,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in FOXF. RWWM Inc. raised its position in shares of Fox Factory by 79.0% during the first quarter. RWWM Inc. now owns 3,576,560 shares of the company's stock worth $83,477,000 after acquiring an additional 1,579,029 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Fox Factory by 6,413.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,352,242 shares of the company's stock valued at $40,932,000 after purchasing an additional 1,331,480 shares during the last quarter. Nantahala Capital Management LLC bought a new stake in Fox Factory in the fourth quarter valued at about $19,252,000. Millennium Management LLC increased its holdings in Fox Factory by 722.1% in the fourth quarter. Millennium Management LLC now owns 391,403 shares of the company's stock valued at $11,848,000 after purchasing an additional 343,793 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its holdings in Fox Factory by 46.6% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 821,380 shares of the company's stock valued at $24,863,000 after purchasing an additional 261,140 shares during the last quarter.

Fox Factory Trading Down 0.2%

NASDAQ:FOXF traded down $0.05 on Friday, reaching $28.93. The company's stock had a trading volume of 491,161 shares, compared to its average volume of 624,708. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.36 and a current ratio of 3.03. The firm has a market cap of $1.21 billion, a PE ratio of -4.78 and a beta of 1.50. The business's 50-day moving average price is $28.36 and its two-hundred day moving average price is $25.54. Fox Factory Holding Corp. has a 1-year low of $17.95 and a 1-year high of $44.27.

Fox Factory (NASDAQ:FOXF - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $374.86 million for the quarter, compared to analyst estimates of $349.01 million. Fox Factory had a positive return on equity of 5.03% and a negative net margin of 17.50%.The firm's quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.38 earnings per share. Fox Factory has set its FY 2025 guidance at 1.600-2.000 EPS. Q3 2025 guidance at 0.450-0.650 EPS. Equities research analysts anticipate that Fox Factory Holding Corp. will post 1.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. B. Riley reiterated a "neutral" rating and issued a $32.00 price objective (up previously from $26.00) on shares of Fox Factory in a report on Friday, August 8th. Stifel Nicolaus upped their price objective on Fox Factory from $34.00 to $36.00 and gave the company a "buy" rating in a report on Friday, August 8th. Finally, Truist Financial boosted their target price on Fox Factory from $28.00 to $34.00 and gave the company a "buy" rating in a research note on Wednesday, May 14th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Fox Factory currently has an average rating of "Hold" and an average target price of $34.86.

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.