Holley Inc. (NYSE:HLLY) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. lowered its position in shares of Holley Inc. (NYSE:HLLY) by 41.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 202,049 shares of the company’s stock after selling 140,197 shares during the period. Victory Capital Management Inc. owned about 0.17% of Holley worth $723,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Skylands Capital LLC grew its stake in Holley by 37.6% during the 2nd quarter. Skylands Capital LLC now owns 1,123,800 shares of the company’s stock worth $4,023,000 after buying an additional 306,874 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of Holley by 129.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 9,590,816 shares of the company’s stock worth $34,335,000 after acquiring an additional 5,409,997 shares during the last quarter. Lazard Asset Management LLC purchased a new position in shares of Holley during the first quarter worth approximately $43,000. Sei Investments Co. increased its holdings in shares of Holley by 1.3% in the 1st quarter. Sei Investments Co. now owns 403,759 shares of the company’s stock valued at $1,801,000 after acquiring an additional 5,000 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in Holley in the 1st quarter valued at $937,000. 39.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on HLLY. Raymond James dropped their price objective on shares of Holley from $5.25 to $4.25 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Benchmark reaffirmed a “buy” rating and set a $12.00 price objective on shares of Holley in a research note on Wednesday, September 4th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $5.50 price objective on shares of Holley in a research report on Monday, September 9th. Canaccord Genuity Group dropped their target price on Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Finally, Truist Financial decreased their price target on Holley from $8.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, August 8th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Holley presently has a consensus rating of “Moderate Buy” and an average price target of $6.54.

Holley Stock Performance

Shares of HLLY stock opened at $3.10 on Friday. The company has a current ratio of 2.80, a quick ratio of 1.19 and a debt-to-equity ratio of 1.18. The stock has a 50 day simple moving average of $3.37 and a 200-day simple moving average of $3.73. The company has a market cap of $369.86 million, a price-to-earnings ratio of 19.38 and a beta of 1.44. Holley Inc. has a 12-month low of $2.94 and a 12-month high of $5.23.

Holley (NYSE:HLLY) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. Holley had a return on equity of 3.51% and a net margin of 3.56%. The firm had revenue of $169.50 million during the quarter, compared to analysts’ expectations of $170.40 million. During the same quarter in the prior year, the business posted $0.14 earnings per share. Holley’s revenue was down 3.3% compared to the same quarter last year. On average, equities analysts forecast that Holley Inc. will post 0.19 EPS for the current year.

About Holley

Holley Inc operates as designer, manufacturer, and marketer of automotive aftermarket products for car and truck enthusiasts in the United States, Canada, Europe, and China. Its products span various automotive platforms and sells across multiple channels. The company's performance automotive products include carburetors, fuel pumps, fuel injection systems, nitrous oxide injection systems, superchargers, exhaust headers, mufflers, distributors, ignition components, engine tuners, automotive performance plumbing products; and exhaust products, as well as shifters, converters, transmission kits, transmissions, tuners, and automotive software.