Connor Clark & Lunn Investment Management Ltd. Makes New $5.21 Million Investment in Harley-Davidson, Inc. $HOG

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Harley-Davidson, Inc. (NYSE:HOG) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm bought 212,781 shares of the company’s stock, valued at approximately $5,205,000.

Several other hedge funds and other institutional investors also recently modified their holdings of HOG. Pinnacle Holdings LLC acquired a new position in shares of Harley-Davidson during the 2nd quarter worth $36,000. Versant Capital Management Inc boosted its stake in Harley-Davidson by 858.2% in the second quarter. Versant Capital Management Inc now owns 1,629 shares of the company’s stock valued at $40,000 after buying an additional 1,459 shares in the last quarter. Fifth Third Bancorp grew its position in Harley-Davidson by 48.9% in the fourth quarter. Fifth Third Bancorp now owns 1,764 shares of the company’s stock valued at $36,000 after acquiring an additional 579 shares during the last quarter. Geneos Wealth Management Inc. raised its stake 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 in the last quarter. Finally, Johnson Financial Group Inc. acquired a new position in Harley-Davidson during the second quarter worth about $59,000. Institutional investors own 85.10% of the company’s stock.

Harley-Davidson Price Performance

HOG stock opened at $27.86 on Friday. The company has a market capitalization of $2.90 billion, a P/E ratio of 17.09, a PEG ratio of 17.20 and a beta of 1.27. The company has a fifty day moving average price of $26.10 and a 200-day moving average price of $23.40. 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 52-week low of $17.09 and a 52-week high of $31.25.

Harley-Davidson (NYSE:HOG) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.10. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.17 billion. Harley-Davidson had a return on equity of 6.28% and a net margin of 4.78%.Harley-Davidson’s quarterly revenue was down 5.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.88 earnings per share. As a group, equities analysts expect that Harley-Davidson, Inc. will post 0.56 EPS for the current year.

Insider Buying and Selling

In related news, Director Daniel J. Nova purchased 40,000 shares of the firm’s stock in a transaction dated Friday, July 31st. The stock was bought at an average price of $24.57 per share, with a total value of $982,800.00. Following the completion of the purchase, the director owned 47,605 shares in the company, valued at approximately $1,169,654.85. This represents a 525.97% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jonathan R. Root sold 1,554 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $24.88, for a total value of $38,663.52. Following the transaction, the chief financial officer owned 27,846 shares of the company’s stock, valued at $692,808.48. This trade represents a 5.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders purchased 57,500 shares of company stock worth $1,439,550. Corporate insiders own 0.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on HOG shares. UBS Group raised their price target on shares of Harley-Davidson from $19.00 to $26.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. DA Davidson upped their price objective on shares of Harley-Davidson from $30.00 to $33.00 and gave the stock a “buy” rating in a research report on Monday, August 17th. Robert W. Baird increased their price objective on shares of Harley-Davidson from $28.00 to $30.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Wolfe Research reiterated an “outperform” rating on shares of Harley-Davidson in a research note on Monday, June 15th. Finally, Weiss Ratings raised Harley-Davidson from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $26.78.

Harley-Davidson Profile

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.