Short Interest in Harley-Davidson, Inc. (NYSE:HOG) Decreases By 16.4%

Key Points

• Short interest in Harley-Davidson fell by 16.4% to 16,057,020 shares as of April 15, equal to about 14.9% of shares sold short and a days-to-cover ratio of 4.9 days.
• Analysts' consensus rating is a Hold with an average price target of $21.67 (coverage: 1 Strong Buy, 2 Buy, 5 Hold, 3 Sell).
• Harley-Davidson missed quarterly EPS materially—reporting ($2.44) vs. consensus ($0.92)—while revenue was $496.2M (slightly above estimates) and down 9.8% year-over-year.

Harley-Davidson, Inc. (NYSE:HOG - Get Free Report) was the target of a significant decline in short interest in April. As of April 15th, there was short interest totaling 16,057,020 shares, a decline of 16.4% from the March 31st total of 19,195,724 shares. Approximately 14.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,258,340 shares, the days-to-cover ratio is presently 4.9 days.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on HOG shares. Wells Fargo & Company initiated coverage on shares of Harley-Davidson in a research note on Wednesday, March 11th. They issued an "underweight" rating and a $15.00 price target on the stock. Argus upgraded Harley-Davidson to a "strong-buy" rating in a research report on Tuesday, February 17th. Zacks Research raised shares of Harley-Davidson from a "strong sell" rating to a "hold" rating in a research note on Monday. BMO Capital Markets restated an "outperform" rating and set a $24.00 target price on shares of Harley-Davidson in a report on Wednesday, February 11th. Finally, UBS Group cut their price target on Harley-Davidson from $27.00 to $19.00 and set a "neutral" rating for the company in a report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $21.67.

Insider Activity at Harley-Davidson

In related news, Director James D. Farley, Jr. sold 6,454 shares of the business's stock in a transaction on Wednesday, February 25th. The shares were sold at an average price of $18.71, for a total value of $120,754.34. Following the completion of the sale, the director owned 16,205 shares of the company's stock, valued at approximately $303,195.55. The trade was a 28.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Rafeh Masood acquired 2,775 shares of the firm's stock in a transaction on Friday, February 27th. The shares were bought at an average cost of $18.00 per share, for a total transaction of $49,950.00. Following the completion of the acquisition, the director owned 7,480 shares of the company's stock, valued at approximately $134,640. This represents a 58.98% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 0.97% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of HOG. Covestor Ltd lifted its holdings in Harley-Davidson by 6.7% during the 3rd quarter. Covestor Ltd now owns 7,057 shares of the company's stock worth $197,000 after buying an additional 442 shares during the last quarter. Triumph Capital Management lifted its stake in Harley-Davidson by 4.7% during the third quarter. Triumph Capital Management now owns 10,171 shares of the company's stock worth $284,000 after purchasing an additional 454 shares during the last quarter. Allworth Financial LP boosted its holdings in Harley-Davidson by 13.7% in the third quarter. Allworth Financial LP now owns 4,314 shares of the company's stock valued at $120,000 after purchasing an additional 519 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Harley-Davidson by 139.0% in the third quarter. EverSource Wealth Advisors LLC now owns 944 shares of the company's stock valued at $26,000 after purchasing an additional 549 shares during the last quarter. Finally, Fifth Third Bancorp raised its holdings in Harley-Davidson by 48.9% during the fourth quarter. Fifth Third Bancorp now owns 1,764 shares of the company's stock worth $36,000 after purchasing an additional 579 shares in the last quarter. 85.10% of the stock is currently owned by hedge funds and other institutional investors.

Harley-Davidson Stock Performance

NYSE:HOG opened at $24.26 on Friday. Harley-Davidson has a fifty-two week low of $17.09 and a fifty-two week high of $31.25. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.83 and a current ratio of 2.10. The company has a 50 day moving average price of $20.37 and a 200 day moving average price of $21.91. The stock has a market capitalization of $2.65 billion, a P/E ratio of 9.29 and a beta of 1.28.

Harley-Davidson (NYSE:HOG - Get Free Report) last issued its quarterly earnings data on Tuesday, February 10th. The company reported ($2.44) earnings per share for the quarter, missing analysts' consensus estimates of ($0.92) by ($1.52). Harley-Davidson had a net margin of 8.03% and a return on equity of 10.27%. The firm had revenue of $496.16 million during the quarter, compared to analyst estimates of $482.21 million. During the same period in the previous year, the firm posted ($0.93) earnings per share. The company's quarterly revenue was down 9.8% compared to the same quarter last year. Equities research analysts forecast that Harley-Davidson will post 0.6 EPS for the current year.

Harley-Davidson Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 17th. Shareholders of record on Monday, March 2nd were paid a $0.1875 dividend. This represents a $0.75 annualized dividend and a dividend yield of 3.1%. This is a positive change from Harley-Davidson's previous quarterly dividend of $0.18. The ex-dividend date was Monday, March 2nd. Harley-Davidson's payout ratio is presently 28.74%.

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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