Atria Investments Inc Sells 13,880 Shares of Holley Inc. (NYSE:HLLY)

Atria Investments Inc cut its holdings in shares of Holley Inc. (NYSE:HLLY) by 35.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,768 shares of the company’s stock after selling 13,880 shares during the period. Atria Investments Inc’s holdings in Holley were worth $76,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. US Bancorp DE boosted its position in Holley by 15.9% in the third quarter. US Bancorp DE now owns 100,979 shares of the company’s stock valued at $298,000 after buying an additional 13,828 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Holley by 6.4% during the third quarter. Allspring Global Investments Holdings LLC now owns 10,209,265 shares of the company’s stock worth $30,117,000 after acquiring an additional 618,449 shares during the last quarter. SG Americas Securities LLC bought a new position in Holley during the 3rd quarter worth approximately $52,000. Algert Global LLC lifted its holdings in Holley by 31.1% in the second quarter. Algert Global LLC now owns 20,781 shares of the company’s stock valued at $74,000 after buying an additional 4,924 shares during the period. Finally, Squarepoint Ops LLC lifted its stake in shares of Holley by 3.3% in the 2nd quarter. Squarepoint Ops LLC now owns 136,795 shares of the company’s stock valued at $490,000 after purchasing an additional 4,413 shares during the period. 39.70% of the stock is currently owned by institutional investors.

Holley Price Performance

Shares of Holley stock opened at $2.88 on Monday. The company has a fifty day moving average of $2.85 and a 200-day moving average of $3.27. Holley Inc. has a 52-week low of $2.29 and a 52-week high of $5.23. The stock has a market capitalization of $345.02 million, a price-to-earnings ratio of 22.15 and a beta of 1.45. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.17 and a current ratio of 2.93.

Holley (NYSE:HLLY) last announced its quarterly earnings results on Friday, November 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). Holley had a net margin of 2.55% and a return on equity of 2.59%. The business had revenue of $134.00 million for the quarter, compared to analysts’ expectations of $142.53 million. During the same quarter in the prior year, the firm earned $0.03 EPS. The firm’s revenue for the quarter was down 14.4% on a year-over-year basis. Equities research analysts expect that Holley Inc. will post 0.14 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on HLLY shares. Raymond James reduced their price objective on Holley from $5.25 to $4.25 and set an “outperform” rating for the company in a research note on Thursday, August 8th. Canaccord Genuity Group cut their target price on Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Truist Financial decreased their price target on Holley from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Benchmark reiterated a “buy” rating and issued a $12.00 target price on shares of Holley in a research note on Wednesday, September 4th. Finally, Telsey Advisory Group cut their price target on Holley from $5.50 to $4.50 and set an “outperform” rating for the company in a research note on Monday, November 11th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $6.63.

Holley Company Profile

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.