MetLife Investment Management LLC Trims Holdings in Holley Inc. (NYSE:HLLY)

MetLife Investment Management LLC trimmed its position in Holley Inc. (NYSE:HLLY) by 68.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,810 shares of the company’s stock after selling 21,405 shares during the quarter. MetLife Investment Management LLC’s holdings in Holley were worth $29,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in shares of Holley by 52.3% in the second quarter. Dimensional Fund Advisors LP now owns 975,034 shares of the company’s stock worth $3,491,000 after purchasing an additional 334,940 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Holley by 129.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 9,590,816 shares of the company’s stock worth $34,335,000 after purchasing an additional 5,409,997 shares during the last quarter. Algert Global LLC raised its stake in shares of Holley by 31.1% in the second quarter. Algert Global LLC now owns 20,781 shares of the company’s stock worth $74,000 after purchasing an additional 4,924 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Holley by 23.3% in the second quarter. American Century Companies Inc. now owns 64,383 shares of the company’s stock worth $230,000 after purchasing an additional 12,186 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in shares of Holley in the second quarter worth about $42,000. 39.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on HLLY. Telsey Advisory Group reduced their price target on Holley from $5.50 to $4.50 and set an “outperform” rating for the company in a research report on Monday, November 11th. Benchmark reiterated a “buy” rating and set a $12.00 price target on shares of Holley in a research report on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Holley has an average rating of “Moderate Buy” and a consensus target price of $6.63.

Holley Stock Up 3.4 %

Holley stock opened at $2.86 on Wednesday. The stock has a market capitalization of $342.02 million, a PE ratio of 21.96 and a beta of 1.47. Holley Inc. has a 12 month low of $2.29 and a 12 month high of $5.23. The business has a 50 day simple moving average of $2.79 and a 200-day simple moving average of $3.19. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.93 and a quick ratio of 1.17.

Holley (NYSE:HLLY) last posted its quarterly earnings data on Friday, November 8th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The business had revenue of $134.00 million during the quarter, compared to analysts’ expectations of $142.53 million. Holley had a net margin of 2.55% and a return on equity of 2.59%. The firm’s quarterly revenue was down 14.4% compared to the same quarter last year. During the same quarter last year, the firm earned $0.03 earnings per share. On average, analysts anticipate that Holley Inc. will post 0.12 EPS for the current fiscal year.

Holley 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.