Kayne Anderson Rudnick Investment Management LLC Lowers Position in Holley Inc. (NYSE:HLLY)

Kayne Anderson Rudnick Investment Management LLC decreased its stake in shares of Holley Inc. (NYSE:HLLY) by 6.4% during the 4th quarter, Holdings Channel reports. The institutional investor owned 8,525,657 shares of the company’s stock after selling 584,595 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.07% of Holley worth $25,747,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of HLLY. Barclays PLC boosted its holdings in Holley by 288.3% during the 3rd quarter. Barclays PLC now owns 75,795 shares of the company’s stock worth $224,000 after acquiring an additional 56,277 shares during the last quarter. Geode Capital Management LLC grew its position in Holley by 5.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,137,811 shares of the company’s stock worth $3,357,000 after purchasing an additional 55,641 shares in the last quarter. Virtu Financial LLC purchased a new stake in Holley in the 3rd quarter valued at about $54,000. JPMorgan Chase & Co. boosted its stake in shares of Holley by 102.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 143,760 shares of the company’s stock worth $424,000 after buying an additional 72,641 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in shares of Holley by 39.8% in the fourth quarter. SG Americas Securities LLC now owns 24,590 shares of the company’s stock valued at $74,000 after acquiring an additional 7,002 shares in the last quarter. 39.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Raymond James raised their target price on Holley from $3.00 to $3.50 and gave the company an “outperform” rating in a research report on Wednesday, March 12th. Truist Financial decreased their price target on shares of Holley from $5.00 to $3.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $4.50 price target on shares of Holley in a research report on Wednesday, March 12th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Holley presently has a consensus rating of “Buy” and a consensus target price of $6.00.

Holley Trading Down 0.7 %

Shares of HLLY opened at $2.07 on Monday. Holley Inc. has a twelve month low of $2.05 and a twelve month high of $4.28. The stock has a market cap of $247.72 million, a PE ratio of 15.88 and a beta of 1.41. The company has a quick ratio of 1.17, a current ratio of 2.93 and a debt-to-equity ratio of 1.20. The business’s 50-day moving average price is $2.54 and its 200-day moving average price is $2.76.

Holley (NYSE:HLLY) last posted its earnings results on Tuesday, March 11th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.09. Holley had a net margin of 2.55% and a return on equity of 2.59%. The business had revenue of $140.05 million for the quarter, compared to analysts’ expectations of $137.60 million. During the same period in the prior year, the company posted $0.01 EPS. The business’s revenue for the quarter was down 10.1% compared to the same quarter last year. On average, equities analysts forecast that Holley Inc. will post 0.12 EPS for the current fiscal year.

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.