JPMorgan Chase & Co. Has $424,000 Stock Position in Holley Inc. (NYSE:HLLY)

JPMorgan Chase & Co. boosted its stake in Holley Inc. (NYSE:HLLY) by 102.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 143,760 shares of the company’s stock after purchasing an additional 72,641 shares during the quarter. JPMorgan Chase & Co. owned about 0.12% of Holley worth $424,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Squarepoint Ops LLC raised its stake in Holley by 3.3% during the second quarter. Squarepoint Ops LLC now owns 136,795 shares of the company’s stock worth $490,000 after acquiring an additional 4,413 shares in the last quarter. Algert Global LLC grew its holdings in shares of Holley by 31.1% during the 2nd quarter. Algert Global LLC now owns 20,781 shares of the company’s stock valued at $74,000 after purchasing an additional 4,924 shares during the last quarter. Zacks Investment Management increased its position in Holley by 69.5% during the 3rd quarter. Zacks Investment Management now owns 19,658 shares of the company’s stock worth $58,000 after purchasing an additional 8,061 shares in the last quarter. Vanguard Personalized Indexing Management LLC bought a new position in Holley in the 2nd quarter valued at approximately $42,000. Finally, Verition Fund Management LLC acquired a new stake in Holley in the third quarter valued at approximately $35,000. 39.70% of the stock is currently owned by institutional investors and hedge funds.

Holley Trading Down 3.7 %

Shares of NYSE HLLY opened at $3.03 on Thursday. The firm has a 50 day moving average price of $2.93 and a two-hundred day moving average price of $3.05. The stock has a market cap of $362.40 million, a P/E ratio of 23.27 and a beta of 1.42. Holley Inc. has a 52-week low of $2.29 and a 52-week high of $5.23. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.17 and a current ratio of 2.93.

Holley (NYSE:HLLY) last announced its earnings results on Friday, November 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.04). Holley had a return on equity of 2.59% and a net margin of 2.55%. The company had revenue of $134.00 million for the quarter, compared to the consensus estimate of $142.53 million. During the same period in the prior year, the business earned $0.03 earnings per share. The firm’s revenue for the quarter was down 14.4% on a year-over-year basis. As a group, equities analysts forecast that Holley Inc. will post 0.12 EPS for the current year.

Insiders Place Their Bets

In other news, Director David S. Lobel sold 1,743,356 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $3.00, for a total transaction of $5,230,068.00. Following the completion of the sale, the director now owns 41,556,961 shares of the company’s stock, valued at $124,670,883. This trade represents a 4.03 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.92% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Telsey Advisory Group reiterated an “outperform” rating and issued a $4.50 price target on shares of Holley in a research note on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $6.63.

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.