Ownership Change: Is Fox Factory Holding Corp (NASDAQ:FOXF) Stock a Sell after Robert Fox’s Insider Sale?

November 23, 2016 - By Hazel Jackson

Ownership Change: Is Fox Factory Holding Corp (NASDAQ:FOXF) Stock a Sell after Robert Fox's Insider Sale?

Robert Fox Insider Sell

Robert Fox, an insider, who acts as a director of Fox Factory Holding Corp made a sale of roughly 525,000 shares of the firm that are worth about $10,767,750 USD based on a market stock price of 20.5 USD per every share. The date of transaction was 23/11/2016, and it was made public in a SEC-filed report, which you can find here. This is a deal that is not going to stay ignored as Robert already holds 1.72 million shares accounting for 4.50% of the Company’s market cap

Fox Factory Holding Corp (NASDAQ:FOXF) Ratings Coverage

Out of 2 analysts covering Fox Factory Holding Corp. (NASDAQ:FOXF), 2 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. $26 is the highest target while $24 is the lowest. The $25 average target is -0.79% below today’s ($25.2) stock price. Fox Factory Holding Corp. has been the topic of 2 analyst reports since August 4, 2016 according to StockzIntelligence Inc. SunTrust maintained the stock with “Buy” rating in Thursday, August 4 report. The stock of Fox Factory Holding Corp (NASDAQ:FOXF) has “Buy” rating given on Friday, September 30 by Jefferies.

Insitutional Activity: The institutional sentiment increased to 2.53 in 2016 Q2. Its up 1.12, from 1.41 in 2016Q1. The ratio improved, as 12 funds sold all Fox Factory Holding Corp shares owned while 25 reduced positions. 17 funds bought stakes while 35 increased positions. They now own 21.17 million shares or 5.64% more from 20.04 million shares in 2016Q1.

The Illinois-based Northern Tru Corporation has invested 0% in Fox Factory Holding Corp (NASDAQ:FOXF). The New York-based Morgan Stanley has invested 0% in Fox Factory Holding Corp (NASDAQ:FOXF). Swiss Financial Bank owns 30,300 shares or 0% of their US portfolio. Manufacturers Life Ins The has 16,072 shares for 0% of their US portfolio. Van Berkom &, a Quebec – Canada-based fund reported 1.93 million shares. The New York-based Tower Rech Cap Limited Liability Company (Trc) has invested 0% in Fox Factory Holding Corp (NASDAQ:FOXF). Moreover, Retail Bank Of Montreal Can has 0% invested in Fox Factory Holding Corp (NASDAQ:FOXF) for 8,489 shares. Redmond Asset Management Ltd Liability Corporation holds 0.27% or 31,136 shares in its portfolio. Blackrock Fund Advsrs owns 582,107 shares or 0% of their US portfolio. Pnc Finance Ser Grp Inc, a Pennsylvania-based fund reported 1,069 shares. Zebra Cap Mngmt holds 0.26% or 42,358 shares in its portfolio. Cooke Bieler Limited Partnership last reported 0.33% of its portfolio in the stock. Legal And General Public Limited Liability, a United Kingdom-based fund reported 2,709 shares. Pdt Ptnrs Limited Liability has invested 0.03% of its portfolio in Fox Factory Holding Corp (NASDAQ:FOXF). Schwab Charles Investment Mngmt last reported 0% of its portfolio in the stock.

Insider Transactions: Since August 8, 2016, the stock had 0 insider purchases, and 1 insider sale for $603,525 net activity. On Monday, August 8 the insider Glasman Zvi sold $603,525.

About 977,720 shares traded hands or 192.38% up from the average. Fox Factory Holding Corp (NASDAQ:FOXF) has risen 44.72% since April 21, 2016 and is uptrending. It has outperformed by 39.39% the S&P500.

Fox Factory Holding Corp. designs, engineers, makes and markets performance ride dynamics products for clients across the world. The company has a market cap of $974.36 million. The Company’s brand ride dynamics products are used primarily on bicycles , side-by-side vehicles (Side-by-Sides), on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles (ATVs), snowmobiles, specialty vehicles and applications, and motorcycles. It has a 29.29 P/E ratio. The Company’s brands include FOX, FOX RACING SHOX and RACE FACE.

According to Zacks Investment Research, “Fox Factory Holding Corp. is a designer, manufacturer and marketer of suspension products used primarily on mountain bikes, side-by-side vehicles, on-road vehicles, off-road vehicles, all-terrain vehicles, snowmobiles, specialty vehicles and applications and motorcycles. Fox Factory Holding Corp. is headquartered in California.”

Analysts await Fox Factory Holding Corp (NASDAQ:FOXF) to report earnings on March, 6. They expect $0.30 EPS, up 20.00% or $0.05 from last year’s $0.25 per share. FOXF’s profit will be $11.60 million for 21.00 P/E if the $0.30 EPS becomes a reality. After $0.44 actual EPS reported by Fox Factory Holding Corp for the previous quarter, Wall Street now forecasts -31.82% negative EPS growth.

More notable recent Fox Factory Holding Corp (NASDAQ:FOXF) news were published by: Globenewswire.com which released: “Fox Factory Holding Corp. Receives CPSC Approval to Begin Its Recall Program ..” on November 01, 2016, also Zacks.com with their article: “Compass Diversified Partially Divests Fox Factory Shares” published on November 23, 2016, Reuters.com published: “BRIEF-Fox Factory Holding Corp announces secondary public offering” on November 16, 2016. More interesting news about Fox Factory Holding Corp (NASDAQ:FOXF) were released by: Prnewswire.com and their article: “Compass Diversified Holdings Announces Partial Divestiture of Fox Factory ..” published on March 16, 2016 as well as Prnewswire.com‘s news article titled: “Compass Diversified Holdings Announces Partial Divestiture of Fox Factory ..” with publication date: August 15, 2016.

FOXF Company Profile

Fox Factory Holding Corp., incorporated on December 28, 2007, designs, engineers, makes and markets performance ride dynamics products for clients across the world. The Company’s brand ride dynamics products are used primarily on bicycles (bikes), side-by-side vehicles (Side-by-Sides), on-road vehicles with off-road capabilities, off-road vehicles and trucks, all-terrain vehicles (ATVs), snowmobiles, specialty vehicles and applications, and motorcycles. The Company’s brands include FOX, FOX RACING SHOX and RACE FACE. The Company’s products include 34 Factory Series FLOAT FIT4, which provides external adjustability with its fourth-generation FOX Isolated Technology and closed-cartridge damper, and includes a self-adjusting negative chamber air spring; X2 technology, utilized in its Factory Series FLOAT and DH rear shocks; PODIUM Internal Bypass, and FLOAT iCD, which provides riders the ability to adjust modes for different skills, terrains and activity levels on mountain bikes.

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