Fox Factory Holding Corp. $FOXF Shares Sold by Kayne Anderson Rudnick Investment Management LLC

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 decreased its holdings in shares of Fox Factory Holding Corp. (NASDAQ:FOXF - Free Report) by 50.6% during the first quarter, according to the company in its most recent disclosure with the SEC. 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 2.13% of Fox Factory worth $20,778,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of FOXF. Bridges Investment Management Inc. increased its stake in Fox Factory by 127.8% in the 1st quarter. Bridges Investment Management Inc. now owns 63,455 shares of the company's stock worth $1,481,000 after buying an additional 35,599 shares during the period. Two Sigma Advisers LP purchased a new position in shares of Fox Factory during the fourth quarter worth approximately $378,000. Geneva Capital Management LLC increased its position in shares of Fox Factory by 4.0% during the first quarter. Geneva Capital Management LLC now owns 538,644 shares of the company's stock worth $12,572,000 after acquiring an additional 20,692 shares during the period. GAMMA Investing LLC raised its stake in shares of Fox Factory by 254.1% during the first quarter. GAMMA Investing LLC now owns 1,696 shares of the company's stock valued at $40,000 after acquiring an additional 1,217 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its holdings in shares of Fox Factory by 50.2% in the first quarter. GSA Capital Partners LLP now owns 59,792 shares of the company's stock valued at $1,396,000 after purchasing an additional 19,985 shares during the period.

Analysts Set New Price Targets

Several brokerages have weighed in on FOXF. B. Riley reiterated a "neutral" rating and issued a $32.00 target price (up from $26.00) on shares of Fox Factory in a report on Friday, August 8th. Stifel Nicolaus lifted 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 upped their price objective on shares of Fox Factory from $28.00 to $34.00 and gave the stock a "buy" rating in a research note on Wednesday, May 14th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $34.86.

Fox Factory Stock Down 0.2%

FOXF traded down $0.05 during trading on Friday, hitting $28.93. The stock had a trading volume of 491,151 shares, compared to its average volume of 607,321. The stock has a 50 day simple moving average of $28.27 and a two-hundred day simple moving average of $25.51. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.36 and a current ratio of 3.03. Fox Factory Holding Corp. has a twelve month low of $17.95 and a twelve month high of $44.27. The company has a market capitalization of $1.21 billion, a PE ratio of -4.78 and a beta of 1.50.

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