Holley Inc. (NYSE:HLLY) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC lessened its stake in shares of Holley Inc. (NYSE:HLLY) by 12.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 9,918,490 shares of the company’s stock after selling 1,405,684 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned about 8.31% of Holley worth $35,508,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Holley during the second quarter worth $42,000. Renaissance Technologies LLC lifted its stake in Holley by 665.2% during the second quarter. Renaissance Technologies LLC now owns 131,500 shares of the company’s stock valued at $471,000 after buying an additional 114,314 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of 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 buying an additional 334,940 shares during the period. American Century Companies Inc. increased its position in shares of 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 acquiring an additional 12,186 shares in the last quarter. Finally, ClariVest Asset Management LLC increased its position in shares of 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 acquiring an additional 5,431 shares in the last quarter. Institutional investors and hedge funds own 39.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on HLLY shares. Truist Financial decreased their price objective on shares of Holley from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $5.50 target price on shares of Holley in a research report on Monday, September 9th. Canaccord Genuity Group dropped their price target on Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Raymond James decreased their price objective on Holley from $5.25 to $4.25 and set an “outperform” rating for the company in a research report on Thursday, August 8th. Finally, Benchmark reiterated a “buy” rating and issued a $12.00 target price on shares of Holley in a report on Wednesday, September 4th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Holley currently has an average rating of “Moderate Buy” and a consensus target price of $6.54.

Holley Stock Performance

Shares of NYSE HLLY opened at $3.10 on Friday. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.80 and a quick ratio of 1.19. Holley Inc. has a one year low of $2.94 and a one year high of $5.23. The business’s 50-day moving average price is $3.37 and its two-hundred day moving average price is $3.73. The company has a market capitalization of $369.86 million, a P/E ratio of 19.38 and a beta of 1.44.

Holley (NYSE:HLLY) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.10 EPS for the quarter, hitting analysts’ consensus estimates of $0.10. The firm had revenue of $169.50 million for the quarter, compared to the consensus estimate of $170.40 million. Holley had a return on equity of 3.51% and a net margin of 3.56%. The firm’s revenue was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.14 earnings per share. Analysts anticipate that Holley Inc. will post 0.19 earnings per share for the current fiscal year.

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.