US Bancorp DE Buys Shares of 83,075 Holley Inc. (NYSE:HLLY)

US Bancorp DE bought a new stake in Holley Inc. (NYSE:HLLY – Get Rating) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 83,075 shares of the company’s stock, valued at approximately $336,000.

Other hedge funds also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC purchased a new position in shares of Holley during the 3rd quarter worth approximately $46,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of Holley during the 2nd quarter worth approximately $62,000. Strs Ohio purchased a new position in shares of Holley during the 2nd quarter worth approximately $126,000. Precision Wealth Strategies LLC purchased a new position in shares of Holley during the 3rd quarter worth approximately $132,000. Finally, Citigroup Inc. increased its stake in shares of Holley by 1,196.2% during 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. 48.43% of the stock is owned by hedge funds and other institutional investors.

Holley Stock Down 5.9 %

Shares of HLLY opened at $3.03 on Wednesday. The firm has a market cap of $360.93 million, a PE ratio of 4.97, a price-to-earnings-growth ratio of 0.38 and a beta of 0.59. The company’s fifty day moving average is $2.49 and its two-hundred day moving average is $4.75. Holley Inc. has a fifty-two week low of $1.88 and a fifty-two week high of $14.68. The company has a quick ratio of 0.98, a current ratio of 3.37 and a debt-to-equity ratio of 1.52.

Holley (NYSE:HLLY – Get Rating) last announced its quarterly earnings results on Monday, November 14th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.08). The company had revenue of $154.78 million during the quarter, compared to analyst estimates of $152.10 million. Holley had a net margin of 9.95% and a return on equity of 10.92%. Analysts forecast that Holley Inc. will post 0.27 earnings per share for the current year.

Analyst Ratings Changes

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

About Holley

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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.