UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Decreases Stock Holdings in Holley Inc. (NYSE:HLLY)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reduced its position in shares of Holley Inc. (NYSE:HLLY) by 33.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,183 shares of the company’s stock after selling 16,812 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Holley were worth $98,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of HLLY. Squarepoint Ops LLC raised its holdings in Holley by 3.3% in the 2nd quarter. Squarepoint Ops LLC now owns 136,795 shares of the company’s stock worth $490,000 after purchasing an additional 4,413 shares in the last quarter. Algert Global LLC increased its position in shares of Holley by 31.1% during 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. ClariVest Asset Management LLC raised its stake in Holley by 1.8% in the second quarter. ClariVest Asset Management LLC now owns 308,456 shares of the company’s stock worth $1,104,000 after buying an additional 5,431 shares in the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in Holley in the second quarter worth about $42,000. Finally, American Century Companies Inc. lifted its holdings in 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 buying an additional 12,186 shares during the period. 39.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HLLY. Telsey Advisory Group decreased their target price 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 issued a $12.00 price objective on shares of Holley in a 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $6.63.

Insider Transactions at Holley

In other Holley news, Director David S. Lobel sold 1,743,356 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $3.00, for a total transaction of $5,230,068.00. Following the completion of the sale, the director now directly owns 41,556,961 shares in the company, valued at approximately $124,670,883. The trade was a 4.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.92% of the company’s stock.

Holley Stock Up 0.7 %

Shares of NYSE:HLLY opened at $2.76 on Friday. The company has a current ratio of 2.93, a quick ratio of 1.17 and a debt-to-equity ratio of 1.20. The stock has a fifty day simple moving average of $2.79 and a two-hundred day simple moving average of $3.14. Holley Inc. has a 12-month low of $2.29 and a 12-month high of $5.23. The stock has a market capitalization of $330.64 million, a price-to-earnings ratio of 21.23 and a beta of 1.47.

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

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.