Redwood Investment Management LLC Purchases Shares of 90,891 Harley-Davidson, Inc. $HOG

Key Points

• Redwood Investment Management acquired 90,891 Harley-Davidson shares worth approximately $2.22 million, while institutional investors and hedge funds collectively own 85.1% of HOG.
• Analyst sentiment remains mixed: Loop Capital upgraded the stock to “buy,” but the broader consensus is “Hold” with an average price target of $26.78.
• Harley-Davidson insiders have recently bought 57,500 shares valued at roughly $1.44 million. The company’s latest quarterly results exceeded estimates, although revenue declined 5.9% year over year.

Redwood Investment Management LLC acquired a new position in shares of Harley-Davidson, Inc. (NYSE:HOG - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 90,891 shares of the company's stock, valued at approximately $2,223,000. Redwood Investment Management LLC owned 0.09% of Harley-Davidson at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of HOG. Aberdeen Wealth Management LLC purchased a new position in Harley-Davidson during the second quarter worth approximately $29,000. Pinnacle Holdings LLC acquired a new stake in shares of Harley-Davidson during the 4th quarter worth $30,000. Versant Capital Management Inc increased its holdings in shares of Harley-Davidson by 858.2% during the 2nd quarter. Versant Capital Management Inc now owns 1,629 shares of the company's stock worth $40,000 after buying an additional 1,459 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Harley-Davidson by 48.9% in the 4th quarter. Fifth Third Bancorp now owns 1,764 shares of the company's stock worth $36,000 after buying an additional 579 shares during the period. Finally, Geneos Wealth Management Inc. boosted its holdings in Harley-Davidson by 153.8% in the first quarter. Geneos Wealth Management Inc. now owns 2,109 shares of the company's stock valued at $53,000 after acquiring an additional 1,278 shares during the last quarter. 85.10% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HOG has been the subject of several research analyst reports. Loop Capital upgraded Harley-Davidson from a "hold" rating to a "buy" rating and set a $32.00 price target for the company in a research note on Monday, July 20th. Robert W. Baird boosted their target price on Harley-Davidson from $28.00 to $30.00 and gave the stock a "neutral" rating in a report on Friday, July 24th. Morgan Stanley increased their target price on shares of Harley-Davidson from $15.00 to $17.00 and gave the stock an "underweight" rating in a research report on Tuesday, July 28th. Wolfe Research reaffirmed an "outperform" rating on shares of Harley-Davidson in a research report on Monday, June 15th. Finally, Griffin Securities set a $33.00 price objective on shares of Harley-Davidson in a research note on Monday, August 17th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, five have given a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, Harley-Davidson presently has an average rating of "Hold" and an average target price of $26.78.

Insider Activity

In other news, CAO Gayle Littleton bought 7,500 shares of the firm's stock in a transaction dated Tuesday, August 11th. The stock was acquired at an average cost of $26.38 per share, for a total transaction of $197,850.00. Following the completion of the purchase, the chief accounting officer owned 7,500 shares of the company's stock, valued at $197,850. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Artie Starrs purchased 10,000 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were purchased at an average cost of $25.89 per share, with a total value of $258,900.00. Following the completion of the acquisition, the chief executive officer owned 25,000 shares in the company, valued at approximately $647,250. This represents a 66.67% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired a total of 57,500 shares of company stock valued at $1,439,550 over the last ninety days. 0.97% of the stock is owned by company insiders.

Harley-Davidson Price Performance

HOG stock opened at $27.85 on Thursday. The firm has a market cap of $2.90 billion, a P/E ratio of 17.09, a price-to-earnings-growth ratio of 16.98 and a beta of 1.27. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.70 and a current ratio of 1.90. Harley-Davidson, Inc. has a 1 year low of $17.09 and a 1 year high of $31.25. The stock has a 50-day simple moving average of $26.06 and a 200-day simple moving average of $23.34.

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

About Harley-Davidson

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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