Kayne Anderson Rudnick Investment Management LLC Decreases Stake in Holley Inc. (NYSE:HLLY)

Kayne Anderson Rudnick Investment Management LLC trimmed its position in shares of Holley Inc. (NYSE:HLLY) by 6.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,525,657 shares of the company’s stock after selling 584,595 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 7.12% of Holley worth $25,747,000 at the end of the most recent reporting period.

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

Holley Price Performance

Shares of HLLY stock opened at $2.07 on Monday. The firm has a market cap of $247.72 million, a price-to-earnings 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. Holley Inc. has a 12 month low of $2.05 and a 12 month high of $4.28. The stock has a 50-day moving average price of $2.54 and a 200 day moving average price of $2.76.

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on HLLY shares. Telsey Advisory Group reiterated an “outperform” rating and issued a $4.50 price target on shares of Holley in a research report on Wednesday, March 12th. Truist Financial dropped their target price on Holley from $5.00 to $3.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Finally, Raymond James lifted their price objective on shares of Holley from $3.00 to $3.50 and gave the company an “outperform” rating in a research note on Wednesday, March 12th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of $6.00.

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.