Daiwa Securities Group Inc. Sells 29,000 Shares of Holley Inc. (NYSE:HLLY)

Daiwa Securities Group Inc. trimmed its stake in shares of Holley Inc. (NYSE:HLLY) by 11.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 222,868 shares of the company’s stock after selling 29,000 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Holley were worth $1,085,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Holley during the 3rd quarter worth $1,539,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Holley during the 3rd quarter worth $61,000. Bamco Inc. NY lifted its position in shares of Holley by 11.1% during the 3rd quarter. Bamco Inc. NY now owns 5,000,000 shares of the company’s stock worth $24,950,000 after buying an additional 500,000 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Holley by 3.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,133,749 shares of the company’s stock worth $20,131,000 after buying an additional 121,251 shares during the last quarter. Finally, Swiss National Bank bought a new stake in shares of Holley during the 3rd quarter worth $519,000. 39.70% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Graham Clempson purchased 59,076 shares of the firm’s stock in a transaction dated Thursday, March 14th. The stock was bought at an average price of $4.18 per share, with a total value of $246,937.68. Following the completion of the purchase, the director now owns 63,851 shares in the company, valued at approximately $266,897.18. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.20% of the company’s stock.

Holley Trading Down 1.4 %

Shares of HLLY stock opened at $4.10 on Thursday. The stock has a market cap of $487.08 million, a price-to-earnings ratio of 24.12 and a beta of 1.52. The stock has a 50-day moving average of $4.35 and a 200-day moving average of $4.46. The company has a current ratio of 3.17, a quick ratio of 1.12 and a debt-to-equity ratio of 1.31. Holley Inc. has a 1-year low of $2.08 and a 1-year high of $8.06.

Holley (NYSE:HLLY) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.01 earnings per share for the quarter, meeting the consensus estimate of $0.01. The company had revenue of $155.70 million during the quarter, compared to analysts’ expectations of $153.26 million. Holley had a return on equity of 5.77% and a net margin of 2.91%. The business’s quarterly revenue was up 1.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.19) earnings per share. On average, equities research analysts forecast that Holley Inc. will post 0.33 earnings per share for the current year.

Analyst Ratings Changes

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

About Holley

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.