Rhumbline Advisers Sells 4,488 Shares of Holley Inc. (NYSE:HLLY)

Rhumbline Advisers trimmed its stake in shares of Holley Inc. (NYSE:HLLY) by 5.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 79,136 shares of the company’s stock after selling 4,488 shares during the period. Rhumbline Advisers owned approximately 0.07% of Holley worth $239,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in Holley by 102.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 143,760 shares of the company’s stock worth $424,000 after purchasing an additional 72,641 shares during the period. Barclays PLC grew its holdings in shares of Holley by 288.3% in the third quarter. Barclays PLC now owns 75,795 shares of the company’s stock worth $224,000 after acquiring an additional 56,277 shares during the period. Geode Capital Management LLC increased its position in Holley by 5.1% during the third quarter. Geode Capital Management LLC now owns 1,137,811 shares of the company’s stock valued at $3,357,000 after acquiring an additional 55,641 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Holley by 10.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 443,469 shares of the company’s stock valued at $1,308,000 after acquiring an additional 43,053 shares during the period. Finally, Virtu Financial LLC purchased a new position in Holley in the third quarter worth about $54,000. Institutional investors own 39.70% of the company’s stock.

Insider Activity

In other news, Director David S. Lobel sold 1,743,356 shares of the firm’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 sale, the director now directly owns 41,556,961 shares in the company, valued at $124,670,883. This trade represents a 4.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.92% of the company’s stock.

Holley Stock Performance

NYSE:HLLY opened at $2.43 on Monday. 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 stock has a 50-day simple moving average of $2.92 and a two-hundred day simple moving average of $2.91. The firm has a market capitalization of $290.51 million, a PE ratio of 18.65 and a beta of 1.44. Holley Inc. has a 52-week low of $2.29 and a 52-week high of $4.58.

Analysts Set New Price Targets

Separately, Telsey Advisory Group reaffirmed an “outperform” rating and set a $4.50 price target on shares of Holley in a research report on Thursday. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $6.95.

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.