Verition Fund Management LLC Takes $35,000 Position in Holley Inc. (NYSE:HLLY)

Verition Fund Management LLC purchased a new position in Holley Inc. (NYSE:HLLY) during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 11,700 shares of the company’s stock, valued at approximately $35,000.

A number of other institutional investors have also recently bought and sold shares of HLLY. Allspring Global Investments Holdings LLC grew its position in Holley by 129.4% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 9,590,816 shares of the company’s stock worth $34,335,000 after purchasing an additional 5,409,997 shares in the last quarter. Skylands Capital LLC grew its holdings in shares of Holley by 37.6% during the second quarter. Skylands Capital LLC now owns 1,123,800 shares of the company’s stock valued at $4,023,000 after buying an additional 306,874 shares in the last quarter. ClariVest Asset Management LLC raised its position in Holley by 1.8% during the second quarter. ClariVest Asset Management LLC now owns 308,456 shares of the company’s stock valued at $1,104,000 after buying an additional 5,431 shares during the period. American Century Companies Inc. raised its position in Holley by 23.3% during the second quarter. American Century Companies Inc. now owns 64,383 shares of the company’s stock valued at $230,000 after buying an additional 12,186 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in Holley by 52.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 975,034 shares of the company’s stock worth $3,491,000 after acquiring an additional 334,940 shares in the last quarter. Hedge funds and other institutional investors own 39.70% of the company’s stock.

Holley Stock Up 3.8 %

HLLY opened at $2.85 on Wednesday. The company has a market capitalization of $340.82 million, a PE ratio of 21.88 and a beta of 1.47. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.93 and a quick ratio of 1.17. Holley Inc. has a fifty-two week low of $2.29 and a fifty-two week high of $5.23. The business has a 50-day moving average of $2.79 and a 200-day moving average of $3.15.

Holley (NYSE:HLLY) last released its quarterly earnings data on Friday, November 8th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The firm had revenue of $134.00 million during the quarter, compared to analyst estimates of $142.53 million. Holley had a return on equity of 2.59% and a net margin of 2.55%. The company’s quarterly revenue was down 14.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.03 EPS. Equities research analysts forecast that Holley Inc. will post 0.12 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Telsey Advisory Group lowered their target price on Holley from $5.50 to $4.50 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Benchmark reaffirmed a “buy” rating and set a $12.00 price objective on shares of Holley in a research report on Wednesday, September 4th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $6.63.

Holley 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.