Holley Inc. (NYSE:HLLY) Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC grew its stake in Holley Inc. (NYSE:HLLY) by 665.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 131,500 shares of the company’s stock after purchasing an additional 114,314 shares during the period. Renaissance Technologies LLC owned about 0.11% of Holley worth $471,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in HLLY. Lazard Asset Management LLC acquired a new position in shares of Holley in the 1st quarter valued at $43,000. Norden Group LLC raised its position in shares of Holley by 28.8% in the first quarter. Norden Group LLC now owns 43,694 shares of the company’s stock worth $195,000 after acquiring an additional 9,781 shares during the period. American Century Companies Inc. boosted its stake in shares of Holley by 23.3% during the 2nd 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. GSA Capital Partners LLP acquired a new stake in shares of Holley during the 1st quarter valued at about $937,000. Finally, ClariVest Asset Management LLC increased its stake in shares of Holley by 1.8% in the 2nd quarter. ClariVest Asset Management LLC now owns 308,456 shares of the company’s stock valued at $1,104,000 after purchasing an additional 5,431 shares in the last quarter. Institutional investors and hedge funds own 39.70% of the company’s stock.

Holley Stock Down 1.3 %

HLLY stock opened at $2.73 on Friday. The firm has a market cap of $325.12 million, a PE ratio of 17.03 and a beta of 1.43. Holley Inc. has a one year low of $2.69 and a one year high of $5.23. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.19 and a current ratio of 2.80. The firm’s 50 day moving average price is $3.11 and its 200-day moving average price is $3.60.

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

Wall Street Analysts Forecast Growth

HLLY has been the topic of several research analyst reports. Raymond James dropped their price objective on Holley from $5.25 to $4.25 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Canaccord Genuity Group cut their price target on shares of Holley from $8.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Benchmark reaffirmed a “buy” rating and set a $12.00 price objective on shares of Holley in a report on Wednesday, September 4th. Telsey Advisory Group restated an “outperform” rating and set a $5.50 price target on shares of Holley in a research report on Monday, September 9th. Finally, Truist Financial lowered their price objective on Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $6.54.

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.