Allspring Global Investments Holdings LLC Purchases 112,894 Shares of Holley Inc. (NYSE:HLLY)

Allspring Global Investments Holdings LLC lifted its position in shares of Holley Inc. (NYSE:HLLY – Get Rating) by 3.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,457,152 shares of the company’s stock after acquiring an additional 112,894 shares during the period. Allspring Global Investments Holdings LLC owned approximately 2.90% of Holley worth $14,001,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in HLLY. Janney Montgomery Scott LLC bought a new stake in shares of Holley during the 3rd quarter valued at $46,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Holley during the 2nd quarter valued at $62,000. Strs Ohio purchased a new stake in Holley in the 2nd quarter worth $126,000. Precision Wealth Strategies LLC purchased a new stake in Holley in the 3rd quarter worth $132,000. Finally, Citigroup Inc. lifted its stake in Holley by 1,196.2% in the 1st quarter. Citigroup Inc. now owns 9,877 shares of the company’s stock worth $137,000 after purchasing an additional 9,115 shares in the last quarter. Institutional investors own 48.43% of the company’s stock.

Holley Trading Up 2.9 %

Shares of HLLY stock opened at $2.48 on Friday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.98 and a current ratio of 3.37. Holley Inc. has a fifty-two week low of $1.88 and a fifty-two week high of $14.68. The stock has a market capitalization of $295.42 million, a P/E ratio of 4.07, a price-to-earnings-growth ratio of 0.29 and a beta of 0.59. The company has a 50 day moving average price of $2.57 and a 200 day moving average price of $5.31.

Holley (NYSE:HLLY – Get Rating) last issued its quarterly earnings data on Monday, November 14th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.08). Holley had a return on equity of 10.92% and a net margin of 9.95%. The company had revenue of $154.78 million for the quarter, compared to analysts’ expectations of $152.10 million. Equities research analysts predict that Holley Inc. will post 0.27 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on HLLY. Benchmark reduced their target price on shares of Holley to $8.00 in a report on Thursday, November 17th. Truist Financial dropped their target price on shares of Holley to $6.00 in a research note on Thursday, November 17th. Raymond James lowered their price target on shares of Holley from $9.00 to $5.00 and set an “outperform” rating for the company in a research report on Tuesday, November 15th. DA Davidson decreased their target price on shares of Holley from $9.00 to $5.00 in a research report on Tuesday, November 15th. Finally, Telsey Advisory Group decreased their target price on shares of Holley from $7.00 to $5.00 and set an “outperform” rating for the company in a research report on Tuesday, December 13th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Holley currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.89.

Holley Company Profile

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Holley Inc designs, manufactures, and markets automotive aftermarket products for car and truck enthusiasts in the United States, Canada, Europe, and China. The company's 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.