Daiwa Securities Group Inc. Has $1.09 Million Position in Holley Inc. (NYSE:HLLY)

Daiwa Securities Group Inc. reduced its stake in shares of Holley Inc. (NYSE:HLLY) by 11.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 222,868 shares of the company’s stock after selling 29,000 shares during the quarter. Daiwa Securities Group Inc. owned 0.19% of Holley worth $1,085,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of HLLY. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Holley during the third quarter worth $61,000. Arizona State Retirement System acquired a new position in Holley during the third quarter worth $67,000. Precision Wealth Strategies LLC raised its stake in Holley by 48.3% during the third quarter. Precision Wealth Strategies LLC now owns 14,835 shares of the company’s stock worth $74,000 after acquiring an additional 4,832 shares in the last quarter. SG Americas Securities LLC acquired a new position in Holley during the third quarter worth $81,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Holley during the third quarter worth $85,000. 39.70% of the stock is currently owned by institutional investors and hedge funds.

Holley Price Performance

Shares of HLLY stock opened at $4.10 on Thursday. The stock has a 50-day moving average price of $4.35 and a 200 day moving average price of $4.46. The company has a quick ratio of 1.12, a current ratio of 3.17 and a debt-to-equity ratio of 1.31. The firm has a market cap of $487.08 million, a price-to-earnings ratio of 24.12 and a beta of 1.52. Holley Inc. has a 12 month low of $2.08 and a 12 month high of $8.06.

Holley (NYSE:HLLY) last announced its quarterly earnings data on Wednesday, February 28th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates 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 analyst estimates of $153.26 million. During the same period last year, the company earned ($0.19) earnings per share. The company’s revenue was up 1.0% on a year-over-year basis. Research analysts expect that Holley Inc. will post 0.33 EPS for the current year.

Insiders Place Their Bets

In related news, Director Graham Clempson bought 59,076 shares of Holley stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $4.18 per share, for a total transaction of $246,937.68. Following the completion of the acquisition, the director now owns 63,851 shares in the company, valued at $266,897.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on HLLY. Truist Financial lowered 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. 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 research note on Thursday, February 29th. JPMorgan Chase & Co. lowered Holley from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $6.50 to $5.00 in a research note on Tuesday, February 20th. Telsey Advisory Group restated an “outperform” rating and issued a $9.00 target price on shares of Holley in a research note on Thursday, February 29th. Finally, Benchmark restated a “buy” rating and issued a $12.00 target price on shares of Holley in a research note on Thursday, March 28th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.