Magnetar Financial LLC Has $747,000 Stake in Fox Factory Holding Corp. $FOXF

Key Points

• Magnetar Financial LLC significantly increased its share holdings in Fox Factory Holding Corp. by 369.6% during the 1st quarter, now owning approximately 0.08% of the company, valued at $747,000.
• Other investors including CWM LLC and Versant Capital Management also raised their stakes in Fox Factory, with increases of up to 474.4% from Nisa Investment Advisors LLC during the same period.
• Fox Factory reported earnings of $0.40 per share for its latest quarter, missing expectations, despite a 7.6% year-over-year revenue increase to $374.86 million.

Magnetar Financial LLC boosted its stake in shares of Fox Factory Holding Corp. (NASDAQ:FOXF - Free Report) by 369.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,006 shares of the company's stock after purchasing an additional 25,190 shares during the quarter. Magnetar Financial LLC owned about 0.08% of Fox Factory worth $747,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC boosted its position in Fox Factory by 76.2% during the first quarter. CWM LLC now owns 1,341 shares of the company's stock worth $31,000 after purchasing an additional 580 shares during the period. Versant Capital Management Inc boosted its position in Fox Factory by 142.8% during the first quarter. Versant Capital Management Inc now owns 1,372 shares of the company's stock worth $32,000 after purchasing an additional 807 shares during the period. GAMMA Investing LLC boosted its position in Fox Factory by 254.1% during the first quarter. GAMMA Investing LLC now owns 1,696 shares of the company's stock worth $40,000 after purchasing an additional 1,217 shares during the period. First Horizon Advisors Inc. boosted its position in Fox Factory by 113.8% during the first quarter. First Horizon Advisors Inc. now owns 1,950 shares of the company's stock worth $46,000 after purchasing an additional 1,038 shares during the period. Finally, Nisa Investment Advisors LLC boosted its position in Fox Factory by 474.4% during the first quarter. Nisa Investment Advisors LLC now owns 1,993 shares of the company's stock worth $47,000 after purchasing an additional 1,646 shares during the period.

Fox Factory Stock Performance

Shares of Fox Factory stock traded up $0.90 during trading on Friday, reaching $29.23. The company's stock had a trading volume of 503,347 shares, compared to its average volume of 522,132. The firm has a market cap of $1.22 billion, a PE ratio of -4.83 and a beta of 1.48. The business's 50-day moving average price is $28.70 and its 200-day moving average price is $25.62. Fox Factory Holding Corp. has a 52 week low of $17.95 and a 52 week high of $44.27. The company has a quick ratio of 1.36, a current ratio of 3.03 and a debt-to-equity ratio of 0.70.

Fox Factory (NASDAQ:FOXF - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.43 by ($0.03). The company had revenue of $374.86 million during the quarter, compared to analyst estimates of $349.01 million. Fox Factory had a negative net margin of 17.50% and a positive return on equity of 5.03%. The firm's revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the firm earned $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. Equities analysts forecast that Fox Factory Holding Corp. will post 1.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

Fox Factory Company 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.