Envestnet Asset Management Inc. Cuts Position in Holley Inc. (NYSE:HLLY)

Envestnet Asset Management Inc. decreased its holdings in shares of Holley Inc. (NYSE:HLLY) by 14.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 276,662 shares of the company’s stock after selling 46,274 shares during the period. Envestnet Asset Management Inc. owned 0.23% of Holley worth $836,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Raymond James Financial Inc. bought a new stake in Holley during the 4th quarter valued at about $1,058,000. Atria Wealth Solutions Inc. purchased a new stake in shares of Holley during the fourth quarter valued at approximately $30,000. Boston Partners bought a new stake in shares of Holley during the fourth quarter valued at approximately $4,746,000. First Eagle Investment Management LLC raised its holdings in Holley by 158.9% in the 4th quarter. First Eagle Investment Management LLC now owns 211,087 shares of the company’s stock worth $637,000 after acquiring an additional 129,569 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Holley by 102.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 143,760 shares of the company’s stock valued at $424,000 after acquiring an additional 72,641 shares in the last quarter. 39.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on HLLY. Raymond James boosted their price target on Holley from $3.00 to $3.50 and gave the stock an “outperform” rating in a research note on Wednesday, March 12th. Telsey Advisory Group restated an “outperform” rating and set a $4.50 target price on shares of Holley in a research note on Wednesday. Finally, Truist Financial reduced their price target on shares of Holley from $5.00 to $3.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Holley presently has a consensus rating of “Buy” and an average target price of $6.00.

Holley Price Performance

NYSE HLLY opened at $2.21 on Friday. The company has a 50-day moving average price of $2.40 and a 200-day moving average price of $2.71. Holley Inc. has a 52 week low of $1.93 and a 52 week high of $4.18. The company has a quick ratio of 1.17, a current ratio of 2.93 and a debt-to-equity ratio of 1.20. The firm has a market capitalization of $265.11 million, a P/E ratio of 17.00 and a beta of 1.41.

Holley (NYSE:HLLY) last announced its earnings results on Tuesday, March 11th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.09. The business had revenue of $140.05 million during the quarter, compared to analysts’ expectations of $137.60 million. Holley had a net margin of 2.55% and a return on equity of 2.59%. The firm’s revenue was down 10.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.01 earnings per share. Equities research analysts anticipate that Holley Inc. will post 0.12 earnings per share for the current year.

Holley 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.