Manatuck Hill Partners LLC Acquires New Shares in Harley-Davidson, Inc. $HOG

Key Points

• Manatuck Hill Partners acquired 65,000 Harley-Davidson shares worth approximately $1.59 million, taking a roughly 0.06% stake. Institutional investors collectively own 85.10% of the company.
• Harley-Davidson reported quarterly EPS of $0.75, exceeding the $0.65 analyst consensus, while revenue of $1.23 billion also topped estimates. However, revenue declined 5.9% year over year and net margin was 4.78%.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $26.78 versus the stock’s reported $27.55 price. Recent insider activity included a CFO sale and a chief accounting officer purchase of 7,500 shares.

Manatuck Hill Partners LLC acquired a new position in Harley-Davidson, Inc. (NYSE:HOG - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 65,000 shares of the company's stock, valued at approximately $1,590,000. Manatuck Hill Partners LLC owned approximately 0.06% of Harley-Davidson as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Triumph Capital Management boosted its holdings in shares of Harley-Davidson by 4.7% during the 3rd quarter. Triumph Capital Management now owns 10,171 shares of the company's stock valued at $284,000 after acquiring an additional 454 shares during the last quarter. State of Michigan Retirement System raised its holdings in shares of Harley-Davidson by 1.8% during the first quarter. State of Michigan Retirement System now owns 28,461 shares of the company's stock valued at $575,000 after purchasing an additional 500 shares during the last quarter. Fifth Third Bancorp lifted its position in Harley-Davidson by 48.9% during the fourth quarter. Fifth Third Bancorp now owns 1,764 shares of the company's stock valued at $36,000 after purchasing an additional 579 shares during the period. Oregon Public Employees Retirement Fund lifted its position in Harley-Davidson by 2.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 24,251 shares of the company's stock valued at $490,000 after purchasing an additional 600 shares during the period. Finally, Dark Forest Capital Management LP boosted its holdings in Harley-Davidson by 3.4% in the third quarter. Dark Forest Capital Management LP now owns 26,445 shares of the company's stock worth $738,000 after purchasing an additional 872 shares during the last quarter. Hedge funds and other institutional investors own 85.10% of the company's stock.

Harley-Davidson Stock Down 2.6%

Shares of HOG stock opened at $27.55 on Wednesday. Harley-Davidson, Inc. has a 12 month low of $17.09 and a 12 month high of $31.25. The stock has a market cap of $2.87 billion, a P/E ratio of 16.90, a P/E/G ratio of 17.47 and a beta of 1.27. The company has a current ratio of 1.90, a quick ratio of 1.70 and a debt-to-equity ratio of 0.36. The company has a 50 day simple moving average of $26.01 and a two-hundred day simple moving average of $23.29.

Harley-Davidson (NYSE:HOG - Get Free Report) last issued its quarterly earnings data on Thursday, July 23rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.10. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.17 billion. Harley-Davidson had a net margin of 4.78% and a return on equity of 6.28%. The company's revenue for the quarter was down 5.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.88 EPS. On average, research analysts expect that Harley-Davidson, Inc. will post 0.56 earnings per share for the current year.

Wall Street Analyst Weigh In

HOG has been the subject of a number of research analyst reports. Loop Capital raised shares of Harley-Davidson from a "hold" rating to a "buy" rating and set a $32.00 target price for the company in a research report on Monday, July 20th. Morgan Stanley increased their price target on Harley-Davidson from $15.00 to $17.00 and gave the company an "underweight" rating in a report on Tuesday, July 28th. Citigroup lifted their price objective on Harley-Davidson from $26.00 to $27.00 and gave the stock a "neutral" rating in a report on Sunday, July 12th. Robert W. Baird upped their price objective on Harley-Davidson from $28.00 to $30.00 and gave the company a "neutral" rating in a research report on Friday, July 24th. Finally, UBS Group increased their target price on Harley-Davidson from $19.00 to $26.00 and gave the company a "neutral" rating in a report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, five have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $26.78.

Insider Buying and Selling

In other Harley-Davidson news, CFO Jonathan R. Root sold 1,554 shares of the company's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $24.88, for a total value of $38,663.52. Following the completion of the sale, the chief financial officer owned 27,846 shares in the company, valued at $692,808.48. This represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Gayle Littleton acquired 7,500 shares of the firm's stock in a transaction dated Tuesday, August 11th. The stock was bought at an average cost of $26.38 per share, for a total transaction of $197,850.00. Following the purchase, the chief accounting officer directly owned 7,500 shares of the company's stock, valued at approximately $197,850. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders acquired 57,500 shares of company stock worth $1,439,550. Company insiders own 0.97% of the company's stock.

Harley-Davidson Company 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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