Raymond James & Associates Increases Stock Position in Holley Inc. (NYSE:HLLY)

Raymond James & Associates grew its position in Holley Inc. (NYSE:HLLY) by 32.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,595 shares of the company’s stock after purchasing an additional 3,791 shares during the period. Raymond James & Associates’ holdings in Holley were worth $64,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in shares of Holley by 2.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 184,857 shares of the company’s stock valued at $2,572,000 after purchasing an additional 4,596 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Holley by 24.0% in the fourth quarter. Alliancebernstein L.P. now owns 27,400 shares of the company’s stock valued at $58,000 after purchasing an additional 5,300 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Holley by 53.0% in the second quarter. Legal & General Group Plc now owns 15,726 shares of the company’s stock valued at $165,000 after purchasing an additional 5,445 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of Holley by 35.2% in the first quarter. Royal Bank of Canada now owns 21,062 shares of the company’s stock valued at $293,000 after purchasing an additional 5,486 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in Holley during the second quarter valued at about $62,000. Hedge funds and other institutional investors own 78.44% of the company’s stock.

Analyst Ratings Changes

HLLY has been the subject of several research reports. JPMorgan Chase & Co. reduced their price target on shares of Holley from $9.00 to $7.50 and set an “overweight” rating for the company in a research report on Tuesday, November 7th. Canaccord Genuity Group increased their price target on shares of Holley from $6.00 to $10.00 and gave the company a “buy” rating in a research report on Friday, August 11th. Telsey Advisory Group lowered shares of Holley from an “outperform” rating to a “market perform” rating and set a $9.00 price target for the company. in a research report on Friday, November 3rd. Benchmark restated a “buy” rating and set a $12.00 price target on shares of Holley in a research report on Tuesday, September 12th. Finally, William Blair began coverage on shares of Holley in a research report on Thursday, August 17th. They set an “outperform” rating for the company. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, Holley presently has a consensus rating of “Moderate Buy” and a consensus price target of $8.78.

Holley Trading Up 10.6 %

Shares of Holley stock opened at $4.12 on Wednesday. Holley Inc. has a 12-month low of $1.88 and a 12-month high of $8.06. The company has a market cap of $486.97 million, a price-to-earnings ratio of 137.17 and a beta of 1.71. The company has a current ratio of 3.43, a quick ratio of 1.10 and a debt-to-equity ratio of 1.38. The company’s 50-day moving average price is $4.67 and its 200-day moving average price is $4.61.

Holley Company Profile

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.