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

Harley-Davidson, Inc. (NYSE:HOG) was the target of a large decline in short interest during the month of 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. Based on an average daily volume of 3,258,340 shares, the short-interest ratio is currently 4.9 days. Currently, 14.9% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Argus upgraded shares of Harley-Davidson to a “strong-buy” rating in a research report on Tuesday, February 17th. DA Davidson lowered their price objective on shares of Harley-Davidson from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Thursday, February 12th. Wells Fargo & Company assumed coverage on shares of Harley-Davidson in a research note on Wednesday, March 11th. They issued an “underweight” rating and a $15.00 price objective on the stock. Citigroup reduced their target price on shares of Harley-Davidson from $28.00 to $23.00 and set a “neutral” rating for the company in a report on Wednesday, January 14th. Finally, Robert W. Baird set a $22.00 target price on shares of Harley-Davidson in a research note on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $21.67.

Insider Transactions at Harley-Davidson

In related news, Director James D. Farley, Jr. sold 6,454 shares of the company’s stock in a transaction dated Wednesday, February 25th. The stock was sold at an average price of $18.71, for a total value of $120,754.34. Following the completion of the sale, the director directly owned 16,205 shares of the company’s stock, valued at $303,195.55. This represents a 28.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Rafeh Masood purchased 2,775 shares of the business’s stock in a transaction on Friday, February 27th. The shares were purchased at an average cost of $18.00 per share, for a total transaction of $49,950.00. Following the transaction, the director owned 7,480 shares of the company’s stock, valued at $134,640. This trade represents a 58.98% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 0.97% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in HOG. EverSource Wealth Advisors LLC boosted its position in shares of Harley-Davidson by 139.0% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 944 shares of the company’s stock worth $26,000 after buying an additional 549 shares in the last quarter. Pinnacle Holdings LLC purchased a new position in Harley-Davidson during the 4th quarter valued at about $30,000. Fifth Third Bancorp raised 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 worth $36,000 after acquiring an additional 579 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Harley-Davidson by 153.8% during the first quarter. Geneos Wealth Management Inc. now owns 2,109 shares of the company’s stock worth $53,000 after acquiring an additional 1,278 shares during the last quarter. Finally, Westfuller Advisors LLC purchased a new stake in shares of Harley-Davidson in the third quarter valued at about $67,000. Hedge funds and other institutional investors own 85.10% of the company’s stock.

Harley-Davidson Price Performance

Harley-Davidson stock opened at $24.26 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 2.10 and a quick ratio of 1.83. The business has a 50 day simple moving average of $20.37 and a 200-day simple moving average of $21.91. Harley-Davidson has a 12 month low of $17.09 and a 12 month high of $31.25. The stock has a market capitalization of $2.65 billion, a PE ratio of 9.29 and a beta of 1.28.

Harley-Davidson (NYSE:HOG) last posted 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). The firm had revenue of $496.16 million during the quarter, compared to analysts’ expectations of $482.21 million. Harley-Davidson had a net margin of 8.03% and a return on equity of 10.27%. The business’s quarterly revenue was down 9.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.93) earnings per share. Equities analysts predict that Harley-Davidson will post 0.6 earnings per share for the current year.

Harley-Davidson Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 17th. Stockholders of record on Monday, March 2nd were paid a dividend of $0.1875 per share. This is a positive change from Harley-Davidson’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Monday, March 2nd. This represents a $0.75 dividend on an annualized basis and a dividend yield of 3.1%. Harley-Davidson’s dividend payout ratio (DPR) is currently 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.