M&T Bank Corp Sells 19,923 Shares of Holley Inc. (NYSE:HLLY)

M&T Bank Corp lowered its stake in Holley Inc. (NYSE:HLLY) by 33.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 40,242 shares of the company’s stock after selling 19,923 shares during the period. M&T Bank Corp’s holdings in Holley were worth $122,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Janney Montgomery Scott LLC increased its position in shares of Holley by 25.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 16,035 shares of the company’s stock worth $48,000 after purchasing an additional 3,210 shares during the period. SG Americas Securities LLC grew its position in Holley by 39.8% in the fourth quarter. SG Americas Securities LLC now owns 24,590 shares of the company’s stock valued at $74,000 after acquiring an additional 7,002 shares during the last quarter. Zacks Investment Management grew its position in Holley by 69.5% in the third quarter. Zacks Investment Management now owns 19,658 shares of the company’s stock valued at $58,000 after acquiring an additional 8,061 shares during the last quarter. Atria Wealth Solutions Inc. bought a new position in Holley in the fourth quarter valued at about $30,000. Finally, Cottonwood Capital Advisors LLC bought a new position in Holley in the fourth quarter valued at about $32,000. 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 company’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $3.00, for a total value 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 represents a 4.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.92% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Raymond James lifted their target price on Holley from $3.00 to $3.50 and gave the company an “outperform” rating in a research report on Wednesday. Telsey Advisory Group reiterated an “outperform” rating and issued a $4.50 target price on shares of Holley in a research report on Wednesday. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $6.80.

Holley Stock Performance

Shares of HLLY stock opened at $2.41 on Friday. The business’s 50-day moving average price is $2.87 and its 200-day moving average price is $2.89. Holley Inc. has a 12 month low of $2.26 and a 12 month high of $4.58. The firm has a market capitalization of $288.11 million, a price-to-earnings ratio of 18.50 and a beta of 1.44. The company has a current ratio of 2.93, a quick ratio of 1.17 and a debt-to-equity ratio of 1.20.

Holley (NYSE:HLLY) last announced its quarterly earnings results on Tuesday, March 11th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.09. Holley had a return on equity of 2.59% and a net margin of 2.55%. The firm had revenue of $140.05 million for the quarter, compared to analyst estimates of $137.60 million. During the same period last year, the firm posted $0.01 earnings per share. The business’s revenue for the quarter was down 10.1% on a year-over-year basis. Equities research analysts forecast that Holley Inc. will post 0.12 EPS for the current 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.