Holley Inc. (NYSE:HLLY) Stake Increased by Geode Capital Management LLC

Geode Capital Management LLC raised its stake in shares of Holley Inc. (NYSE:HLLY) by 5.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,137,811 shares of the company’s stock after acquiring an additional 55,641 shares during the quarter. Geode Capital Management LLC owned approximately 0.95% of Holley worth $3,357,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in 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 in the last quarter. Verition Fund Management LLC acquired a new position in shares of Holley in the 3rd quarter worth approximately $35,000. Algert Global LLC increased its holdings in shares of Holley by 31.1% in the 2nd quarter. Algert Global LLC now owns 20,781 shares of the company’s stock valued at $74,000 after acquiring an additional 4,924 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Holley by 6.4% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 10,209,265 shares of the company’s stock valued at $30,117,000 after acquiring an additional 618,449 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Holley by 23.3% during 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. Institutional investors own 39.70% of the company’s stock.

Insider Buying and Selling

In related news, Director David S. Lobel sold 1,743,356 shares of the firm’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $3.00, for a total transaction of $5,230,068.00. Following the completion of the transaction, the director now owns 41,556,961 shares of the company’s stock, valued at $124,670,883. This trade represents a 4.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.92% of the stock is owned by corporate insiders.

Holley Price Performance

Shares of HLLY opened at $3.03 on Tuesday. Holley Inc. has a one year low of $2.29 and a one year high of $5.23. The stock’s fifty day moving average is $2.82 and its 200-day moving average is $3.10. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.17 and a current ratio of 2.93. The firm has a market capitalization of $362.98 million, a price-to-earnings ratio of 23.31 and a beta of 1.42.

Holley (NYSE:HLLY) last released its earnings results on Friday, November 8th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.04). The company had revenue of $134.00 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the business posted $0.03 EPS. Equities analysts anticipate that Holley Inc. will post 0.12 EPS for the current year.

Analysts Set New Price Targets

Separately, 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 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.63.

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.