Russell Investments Group Ltd. Increases Stake in Holley Inc. $HLLY

Russell Investments Group Ltd. increased its position in Holley Inc. (NYSE:HLLY) by 12.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 920,936 shares of the company’s stock after acquiring an additional 101,800 shares during the quarter. Russell Investments Group Ltd. owned about 0.77% of Holley worth $2,367,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new stake in Holley in the 4th quarter worth about $26,000. Bridgeway Capital Management LLC increased its holdings in Holley by 2.3% in the 4th quarter. Bridgeway Capital Management LLC now owns 573,228 shares of the company’s stock worth $1,731,000 after acquiring an additional 12,955 shares during the last quarter. ProShare Advisors LLC purchased a new stake in Holley in the 4th quarter worth about $40,000. Nisa Investment Advisors LLC increased its holdings in Holley by 994.4% in the 1st quarter. Nisa Investment Advisors LLC now owns 16,536 shares of the company’s stock worth $42,000 after acquiring an additional 15,025 shares during the last quarter. Finally, M&T Bank Corp increased its holdings in Holley by 40.0% in the 1st quarter. M&T Bank Corp now owns 56,331 shares of the company’s stock worth $145,000 after acquiring an additional 16,089 shares during the last quarter. Hedge funds and other institutional investors own 39.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on HLLY shares. Benchmark raised Holley from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a report on Friday, August 8th. Raymond James Financial raised their target price on Holley from $2.25 to $3.00 and gave the stock an “outperform” rating in a research note on Thursday, August 7th. Telsey Advisory Group restated an “outperform” rating and issued a $2.75 target price on shares of Holley in a research note on Thursday, July 31st. Canaccord Genuity Group raised their target price on Holley from $5.00 to $6.00 and gave the stock a “buy” rating in a research note on Thursday, August 7th. Finally, Wall Street Zen upgraded Holley from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Five analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $3.75.

Holley Stock Performance

Shares of HLLY opened at $3.8450 on Tuesday. The company has a market cap of $463.32 million, a PE ratio of -14.79 and a beta of 1.35. The company has a current ratio of 2.93, a quick ratio of 1.18 and a debt-to-equity ratio of 1.24. The stock has a 50-day moving average price of $2.52 and a 200-day moving average price of $2.40. Holley Inc. has a 12-month low of $1.60 and a 12-month high of $3.91.

Holley (NYSE:HLLY) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The business had revenue of $166.66 million for the quarter, compared to the consensus estimate of $162.67 million. Holley had a negative net margin of 5.12% and a positive return on equity of 5.81%. As a group, equities analysts forecast that Holley Inc. will post 0.12 earnings per share 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.