Nisa Investment Advisors LLC Acquires 15,025 Shares of Holley Inc. (NYSE:HLLY)

Nisa Investment Advisors LLC lifted its position in Holley Inc. (NYSE:HLLY) by 994.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 16,536 shares of the company’s stock after buying an additional 15,025 shares during the period. Nisa Investment Advisors LLC’s holdings in Holley were worth $42,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. M&T Bank Corp raised its position in shares of Holley by 40.0% during the 1st quarter. M&T Bank Corp now owns 56,331 shares of the company’s stock valued at $145,000 after purchasing an additional 16,089 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Holley by 10.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 306,019 shares of the company’s stock worth $786,000 after buying an additional 29,357 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Holley by 1.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,337,982 shares of the company’s stock worth $26,569,000 after purchasing an additional 170,132 shares during the period. KPP Advisory Services LLC purchased a new position in shares of Holley during the 1st quarter worth about $99,000. Finally, Squarepoint Ops LLC boosted its stake in shares of Holley by 112.9% during the 4th quarter. Squarepoint Ops LLC now owns 46,636 shares of the company’s stock worth $141,000 after purchasing an additional 24,733 shares during the period. Institutional investors own 39.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Canaccord Genuity Group reduced their price objective on shares of Holley from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Telsey Advisory Group reduced their price objective on shares of Holley from $4.50 to $2.75 and set an “outperform” rating for the company in a research report on Thursday, May 8th. Truist Financial reduced their target price on shares of Holley from $5.00 to $3.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, Benchmark cut shares of Holley from a “buy” rating to a “hold” rating and set a $5.00 target price for the company. in a research report on Friday, May 9th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $3.85.

Holley Price Performance

Holley stock opened at $2.21 on Friday. Holley Inc. has a 52 week low of $1.60 and a 52 week high of $4.06. The company has a quick ratio of 0.98, a current ratio of 2.86 and a debt-to-equity ratio of 1.28. The firm’s 50-day simple moving average is $2.10 and its 200 day simple moving average is $2.44. The firm has a market capitalization of $265.60 million, a PE ratio of -10.52 and a beta of 1.35.

Holley (NYSE:HLLY) last announced its earnings results on Wednesday, May 14th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.03). Holley had a negative net margin of 4.05% and a positive return on equity of 6.18%. The firm had revenue of $153.04 million during the quarter, compared to analyst estimates of $148.52 million. On average, equities research analysts predict that Holley Inc. will post 0.12 EPS for the current fiscal year.

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.