Holley Inc. (NYSE:HLLY) Shares Acquired by Algert Global LLC

Algert Global LLC lifted its position in Holley Inc. (NYSE:HLLY) by 31.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,781 shares of the company’s stock after acquiring an additional 4,924 shares during the period. Algert Global LLC’s holdings in Holley were worth $74,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in HLLY. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Holley in the second quarter valued at about $42,000. Lazard Asset Management LLC acquired a new position in Holley in the 1st quarter worth approximately $43,000. Norden Group LLC raised its position in Holley by 28.8% during the 1st quarter. Norden Group LLC now owns 43,694 shares of the company’s stock worth $195,000 after buying an additional 9,781 shares during the last quarter. American Century Companies Inc. lifted its stake in Holley by 23.3% during the 2nd 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 during the period. Finally, Renaissance Technologies LLC boosted its holdings in shares of Holley by 665.2% in the 2nd quarter. Renaissance Technologies LLC now owns 131,500 shares of the company’s stock valued at $471,000 after acquiring an additional 114,314 shares during the last quarter. Hedge funds and other institutional investors own 39.70% of the company’s stock.

Holley Price Performance

Holley stock opened at $2.86 on Friday. The stock has a market capitalization of $342.57 million, a P/E ratio of 15.05 and a beta of 1.43. The company’s fifty day moving average price is $3.09 and its 200 day moving average price is $3.59. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.19 and a current ratio of 2.80. 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 for the quarter, hitting the consensus estimate of $0.10. Holley had a net margin of 3.56% and a return on equity of 3.51%. The firm had revenue of $169.50 million during the quarter, compared to the consensus estimate of $170.40 million. During the same quarter in the prior year, the firm earned $0.14 EPS. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. As a group, equities research analysts anticipate that Holley Inc. will post 0.19 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.