Bank of New York Mellon Corp Buys 12,261 Shares of Holley Inc. (NYSE:HLLY)

Bank of New York Mellon Corp grew its position in Holley Inc. (NYSE:HLLY) by 8.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 166,041 shares of the company’s stock after purchasing an additional 12,261 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.14% of Holley worth $501,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. raised its holdings 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 acquiring an additional 72,641 shares during the period. Barclays PLC grew its position in shares of Holley by 288.3% in the third quarter. Barclays PLC now owns 75,795 shares of the company’s stock valued at $224,000 after purchasing an additional 56,277 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Holley by 5.1% in the third quarter. Geode Capital Management LLC now owns 1,137,811 shares of the company’s stock worth $3,357,000 after purchasing an additional 55,641 shares during the period. Skylands Capital LLC lifted its position in shares of Holley by 4.3% during the 4th quarter. Skylands Capital LLC now owns 1,193,983 shares of the company’s stock worth $3,606,000 after purchasing an additional 49,383 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Holley by 10.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 443,469 shares of the company’s stock valued at $1,308,000 after purchasing an additional 43,053 shares during the period. 39.70% of the stock is currently owned by institutional investors and hedge funds.

Holley Trading Up 0.9 %

Shares of HLLY stock opened at $2.70 on Friday. The firm has a fifty day moving average of $2.79 and a 200-day moving average of $2.85. The stock has a market cap of $323.29 million, a price-to-earnings ratio of 20.73 and a beta of 1.44. Holley Inc. has a 52-week low of $2.26 and a 52-week high of $4.58. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.17 and a current ratio of 2.93.

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

Analyst Upgrades and Downgrades

Several brokerages have commented on HLLY. Raymond James lifted their price target on Holley from $3.00 to $3.50 and gave the stock an “outperform” rating in a research report on Wednesday, March 12th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $4.50 target price on shares of Holley in a research report on Wednesday, March 12th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $6.80.

About Holley

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.