AQR Capital Management LLC Decreases Position in Holley Inc. (NYSE:HLLY)

AQR Capital Management LLC lowered its stake in shares of Holley Inc. (NYSE:HLLY) by 8.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 367,271 shares of the company’s stock after selling 34,363 shares during the quarter. AQR Capital Management LLC owned 0.31% of Holley worth $1,315,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Squarepoint Ops LLC increased its stake in Holley by 3.3% in the second quarter. Squarepoint Ops LLC now owns 136,795 shares of the company’s stock valued at $490,000 after purchasing an additional 4,413 shares during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new position in shares of Holley in the 2nd quarter valued at $42,000. Renaissance Technologies LLC raised its stake in Holley by 665.2% during the 2nd quarter. Renaissance Technologies LLC now owns 131,500 shares of the company’s stock worth $471,000 after acquiring an additional 114,314 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Holley by 52.3% in the second quarter. Dimensional Fund Advisors LP now owns 975,034 shares of the company’s stock valued at $3,491,000 after acquiring an additional 334,940 shares during the last quarter. Finally, American Century Companies Inc. boosted its stake in Holley by 23.3% in the second quarter. American Century Companies Inc. now owns 64,383 shares of the company’s stock valued at $230,000 after acquiring an additional 12,186 shares in the last quarter. 39.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

HLLY has been the topic of a number of research reports. Telsey Advisory Group restated an “outperform” rating and set a $5.50 target price on shares of Holley in a research report on Monday, September 9th. Raymond James reduced their target price on shares of Holley from $5.25 to $4.25 and set an “outperform” rating for the company in a report on Thursday, August 8th. Canaccord Genuity Group lowered their price target on Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Truist Financial reduced their price objective on Holley from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Finally, Benchmark reiterated a “buy” rating and issued a $12.00 target price on shares of Holley in a research note on Wednesday, September 4th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company. 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 Stock Performance

HLLY opened at $2.73 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. The company has a market capitalization of $325.12 million, a price-to-earnings ratio of 17.03 and a beta of 1.43. The business has a 50 day moving average price of $3.11 and a two-hundred day moving average price of $3.60. Holley Inc. has a 1-year low of $2.69 and a 1-year high of $5.23.

Holley (NYSE:HLLY) last released its quarterly earnings results on Wednesday, August 7th. The company reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. Holley had a net margin of 3.56% and a return on equity of 3.51%. The business had revenue of $169.50 million for the quarter, compared to analyst estimates of $170.40 million. During the same quarter in the previous year, the business earned $0.14 earnings per share. The firm’s revenue was down 3.3% compared to the same quarter last year. Research analysts predict that Holley Inc. will post 0.19 EPS for the current fiscal year.

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.