Harley-Davidson, Inc. $HOG Shares Sold by Quinn Opportunity Partners LLC

Key Points

• Quinn Opportunity Partners cut its stake in Harley-Davidson by 63.4% in Q3, selling 195,160 shares and leaving a 112,572-share position worth about $3.14 million.
• Earnings miss: Harley-Davidson reported quarterly EPS of ($2.44) vs. consensus ($0.92), missing by $1.52, while revenue was $496.2 million (down 9.8% year-over-year).
• Dividend boost and valuation: the company raised its quarterly dividend to $0.1875 (annualized $0.75, a 4.3% yield) and the stock trades near its 52-week low with a market cap of about $1.97 billion and a P/E of 6.75.

Quinn Opportunity Partners LLC cut its position in shares of Harley-Davidson, Inc. (NYSE:HOG - Free Report) by 63.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 112,572 shares of the company's stock after selling 195,160 shares during the quarter. Quinn Opportunity Partners LLC owned approximately 0.10% of Harley-Davidson worth $3,141,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Boston Partners boosted its position in Harley-Davidson by 2.1% during the third quarter. Boston Partners now owns 4,021,078 shares of the company's stock worth $112,179,000 after acquiring an additional 84,516 shares during the last quarter. Johnson Financial Group Inc. raised its holdings in Harley-Davidson by 15,387.5% in the 3rd quarter. Johnson Financial Group Inc. now owns 3,717 shares of the company's stock valued at $104,000 after acquiring an additional 3,693 shares during the last quarter. Sei Investments Co. raised its holdings in Harley-Davidson by 25.0% in the 3rd quarter. Sei Investments Co. now owns 168,678 shares of the company's stock valued at $4,705,000 after acquiring an additional 33,701 shares during the last quarter. WINTON GROUP Ltd raised its holdings in Harley-Davidson by 449.9% in the 3rd quarter. WINTON GROUP Ltd now owns 295,687 shares of the company's stock valued at $8,250,000 after acquiring an additional 241,918 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of Harley-Davidson by 109.3% during the 3rd quarter. Russell Investments Group Ltd. now owns 56,116 shares of the company's stock worth $1,566,000 after purchasing an additional 29,300 shares during the period. Institutional investors and hedge funds own 85.10% of the company's stock.

Harley-Davidson Stock Down 1.9%

Shares of NYSE HOG opened at $17.62 on Friday. Harley-Davidson, Inc. has a 52-week low of $17.11 and a 52-week high of $31.25. The firm has a fifty day moving average of $19.90 and a 200-day moving average of $23.74. The stock has a market capitalization of $1.97 billion, a PE ratio of 6.75 and a beta of 1.42. The company has a quick ratio of 1.83, a current ratio of 2.10 and a debt-to-equity ratio of 0.52.

Harley-Davidson (NYSE:HOG - Get Free Report) last released its quarterly earnings data on Tuesday, February 10th. The company reported ($2.44) EPS for the quarter, missing analysts' consensus estimates of ($0.92) by ($1.52). Harley-Davidson had a return on equity of 10.27% and a net margin of 8.03%.The firm had revenue of $496.16 million for the quarter, compared to analyst estimates of $482.21 million. During the same quarter in the previous year, the company earned ($0.93) earnings per share. The company's quarterly revenue was down 9.8% on a year-over-year basis. On average, analysts anticipate that Harley-Davidson, Inc. will post 3.44 EPS for the current year.

Harley-Davidson Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 17th. Shareholders of record on Monday, March 2nd will be paid a dividend of $0.1875 per share. This is a boost from Harley-Davidson's previous quarterly dividend of $0.18. This represents a $0.75 annualized dividend and a yield of 4.3%. The ex-dividend date is Monday, March 2nd. Harley-Davidson's payout ratio is currently 28.74%.

Insider Transactions at Harley-Davidson

In other news, Director James D. Farley, Jr. sold 6,454 shares of the business's stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $18.71, for a total transaction of $120,754.34. Following the completion of the sale, the director owned 16,205 shares in the company, valued at approximately $303,195.55. The trade was a 28.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Rafeh Masood bought 2,775 shares of the company's stock in a transaction that occurred on Friday, February 27th. The shares were acquired at an average cost of $18.00 per share, with a total value of $49,950.00. Following the transaction, the director owned 7,480 shares in the company, valued at approximately $134,640. This represents a 58.98% increase in their position. The SEC filing for this purchase provides additional information. Company insiders own 0.93% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Citigroup decreased their price objective on Harley-Davidson from $28.00 to $23.00 and set a "neutral" rating on the stock in a report on Wednesday, January 14th. Argus upgraded Harley-Davidson to a "strong-buy" rating in a research report on Tuesday, February 17th. Loop Capital assumed coverage on Harley-Davidson in a research report on Tuesday, November 25th. They set a "hold" rating and a $21.00 target price on the stock. Zacks Research cut Harley-Davidson from a "hold" rating to a "strong sell" rating in a report on Thursday, February 12th. Finally, Wells Fargo & Company initiated coverage on shares of Harley-Davidson in a research note on Wednesday. They set an "underweight" rating and a $15.00 price objective for the company. 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 four have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $21.67.

Harley-Davidson Profile

Harley-Davidson, Inc is a renowned American motorcycle manufacturer best known for its heavyweight cruiser and touring bikes. Founded in 1903 in Milwaukee, Wisconsin, the company has built a strong reputation for producing distinctive motorcycles characterized by their signature V-twin engines, chrome finishes and robust frames. Harley-Davidson markets its products globally through a network of franchised dealerships and focuses on delivering an immersive brand experience to its customers, emphasizing lifestyle and community alongside its motorcycles.

In addition to its core motorcycle business, Harley-Davidson offers an extensive range of parts, accessories and apparel under its Genuine Motor Parts & Accessories and MotorClothes lines.

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