Holley Inc. (NYSE:HLLY) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its position in shares of Holley Inc. (NYSE:HLLY) by 3.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,133,749 shares of the company’s stock after purchasing an additional 121,251 shares during the quarter. Allspring Global Investments Holdings LLC owned 3.49% of Holley worth $20,131,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of HLLY. PNC Financial Services Group Inc. lifted its holdings in Holley by 132.8% in the second quarter. PNC Financial Services Group Inc. now owns 6,061 shares of the company’s stock valued at $25,000 after acquiring an additional 3,457 shares during the period. Price T Rowe Associates Inc. MD acquired a new position in Holley in the first quarter valued at approximately $28,000. Barclays PLC lifted its holdings in Holley by 533.4% in the fourth quarter. Barclays PLC now owns 13,808 shares of the company’s stock valued at $29,000 after acquiring an additional 11,628 shares during the period. Cibc World Market Inc. acquired a new position in Holley in the second quarter valued at approximately $41,000. Finally, Tower Research Capital LLC TRC lifted its holdings in Holley by 148.0% in the third quarter. Tower Research Capital LLC TRC now owns 11,693 shares of the company’s stock valued at $48,000 after acquiring an additional 6,978 shares during the period. 39.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HLLY. JPMorgan Chase & Co. downgraded Holley from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $6.50 to $5.00 in a research note on Tuesday, February 20th. Benchmark reaffirmed a “buy” rating and set a $12.00 target price on shares of Holley in a research note on Thursday, March 28th. Truist Financial reduced their target price on Holley from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $9.00 target price on shares of Holley in a research note on Thursday, February 29th. Finally, Canaccord Genuity Group reduced their target price on Holley from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $7.75.

Holley Stock Down 1.2 %

NYSE HLLY opened at $4.21 on Friday. The business has a fifty day moving average price of $4.47 and a 200 day moving average price of $4.50. Holley Inc. has a one year low of $2.08 and a one year high of $8.06. The company has a debt-to-equity ratio of 1.31, a quick ratio of 1.12 and a current ratio of 3.17. The company has a market cap of $500.15 million, a P/E ratio of 24.77 and a beta of 1.52.

Holley (NYSE:HLLY) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.01 EPS for the quarter, meeting the consensus estimate of $0.01. Holley had a return on equity of 5.77% and a net margin of 2.91%. The firm had revenue of $155.70 million during the quarter, compared to the consensus estimate of $153.26 million. During the same period in the prior year, the company earned ($0.19) EPS. The firm’s revenue was up 1.0% compared to the same quarter last year. Research analysts anticipate that Holley Inc. will post 0.33 EPS for the current fiscal year.

Insider Buying and Selling at Holley

In related news, Director Graham Clempson bought 59,076 shares of the company’s stock in a transaction on Thursday, March 14th. The stock was bought at an average cost of $4.18 per share, for a total transaction of $246,937.68. Following the acquisition, the director now directly owns 63,851 shares in the company, valued at $266,897.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.92% of the stock is owned by company insiders.

Holley Company 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.