Tudor Investment Corp ET AL Cuts Holdings in Fox Factory Holding Corp. $FOXF

Key Points

• Tudor Investment cut its Fox Factory stake by 68.0% in Q3, selling 137,969 shares and ending the period with 64,885 shares worth about $1.58 million.
• Other institutions moved in the opposite direction — ArrowMark Colorado Holdings boosted its position by 72.9% to 1,239,216 shares (~$30.1M) and WCM Investment Management opened a new ~$10.6M position — showing mixed institutional flows.
• Company snapshot: Fox Factory recently beat EPS and revenue estimates for the quarter but still reported a -37.11% net margin; the stock has a market cap of ~$705.7M and a consensus analyst rating of Hold with a $29.50 target.

Tudor Investment Corp ET AL trimmed its holdings in shares of Fox Factory Holding Corp. (NASDAQ:FOXF - Free Report) by 68.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,885 shares of the company's stock after selling 137,969 shares during the quarter. Tudor Investment Corp ET AL owned approximately 0.16% of Fox Factory worth $1,576,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. WCM Investment Management LLC purchased a new position in Fox Factory during the third quarter valued at approximately $10,565,000. ArrowMark Colorado Holdings LLC increased its holdings in Fox Factory by 72.9% during the third quarter. ArrowMark Colorado Holdings LLC now owns 1,239,216 shares of the company's stock valued at $30,101,000 after buying an additional 522,391 shares during the period. B. Metzler seel. Sohn & Co. AG increased its holdings in Fox Factory by 365.1% during the third quarter. B. Metzler seel. Sohn & Co. AG now owns 87,825 shares of the company's stock valued at $2,133,000 after buying an additional 68,941 shares during the period. Summit Global Investments increased its holdings in Fox Factory by 185.5% during the third quarter. Summit Global Investments now owns 47,167 shares of the company's stock valued at $1,146,000 after buying an additional 30,646 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in Fox Factory by 15.2% during the third quarter. Principal Financial Group Inc. now owns 269,431 shares of the company's stock valued at $6,544,000 after buying an additional 35,575 shares during the period.

Fox Factory Price Performance

Shares of FOXF opened at $16.83 on Monday. The company has a market cap of $705.73 million, a price-to-earnings ratio of -1.29 and a beta of 1.46. Fox Factory Holding Corp. has a twelve month low of $13.08 and a twelve month high of $31.18. The company has a quick ratio of 1.37, a current ratio of 2.86 and a debt-to-equity ratio of 0.96. The company has a 50 day moving average of $17.62 and a two-hundred day moving average of $18.62.

Fox Factory (NASDAQ:FOXF - Get Free Report) last announced its earnings results on Thursday, February 26th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06. The company had revenue of $361.07 million during the quarter, compared to the consensus estimate of $353.88 million. Fox Factory had a negative net margin of 37.11% and a positive return on equity of 5.06%. Fox Factory's revenue was up 2.3% compared to the same quarter last year. During the same period last year, the firm earned $0.31 earnings per share. As a group, analysts predict that Fox Factory Holding Corp. will post 1.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Roth Mkm cut their price objective on shares of Fox Factory from $21.00 to $19.00 and set a "neutral" rating on the stock in a report on Tuesday, January 6th. Weiss Ratings reissued a "sell (d)" rating on shares of Fox Factory in a report on Thursday, January 22nd. Finally, Zacks Research upgraded shares of Fox Factory from a "strong sell" rating to a "hold" rating in a research note on Thursday, March 5th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Fox Factory currently has a consensus rating of "Hold" and a consensus target price of $29.50.

Fox Factory Company Profile

Fox Factory Holding Corp., headquartered in Duluth, Minnesota, designs, engineers and manufactures high-performance suspension systems, shock absorbers and related components for powersports, light-vehicle and mountain-bike applications. The company's FOX brand offers a comprehensive portfolio of forks, shocks, coilovers and internal bypass dampers aimed at OEM and aftermarket customers seeking enhanced ride quality, control and durability across off-road vehicles, motorcycles and bicycles.

Founded in 1974 by Bob Fox in California, Fox Factory has expanded its technology base and market reach through strategic acquisitions such as Marzocchi Suspension, DVO Suspension and Walker Evans Racing.

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