Algert Global LLC Sells 101,687 Shares of Holley Inc. (NYSE:HLLY)

Algert Global LLC decreased its position in shares of Holley Inc. (NYSE:HLLY) by 85.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,560 shares of the company’s stock after selling 101,687 shares during the period. Algert Global LLC’s holdings in Holley were worth $53,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Northern Trust Corp grew its holdings in Holley by 5.4% during the 4th quarter. Northern Trust Corp now owns 449,282 shares of the company’s stock valued at $1,357,000 after buying an additional 22,932 shares in the last quarter. Blue Owl Capital Holdings LP boosted its stake in shares of Holley by 17.3% during the fourth quarter. Blue Owl Capital Holdings LP now owns 2,990,294 shares of the company’s stock valued at $9,031,000 after purchasing an additional 440,040 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Holley by 9.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,180,045 shares of the company’s stock worth $3,564,000 after acquiring an additional 104,071 shares during the period. XTX Topco Ltd bought a new stake in Holley during the 4th quarter valued at $290,000. Finally, Raymond James Financial Inc. bought a new stake in shares of Holley in the fourth quarter valued at about $1,058,000. 39.70% of the stock is currently owned by institutional investors.

Holley Stock Performance

Shares of Holley stock opened at $2.17 on Wednesday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.17 and a current ratio of 2.93. Holley Inc. has a one year low of $1.60 and a one year high of $4.08. The business’s 50 day moving average price is $2.31 and its 200 day moving average price is $2.67. The company has a market cap of $260.31 million, a price-to-earnings ratio of 16.69 and a beta of 1.43.

Holley (NYSE:HLLY) last issued its quarterly earnings data on Wednesday, May 14th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). The business had revenue of $153.04 million for the quarter, compared to analyst estimates of $148.52 million. Holley had a return on equity of 2.59% and a net margin of 2.55%. On average, research analysts predict that Holley Inc. will post 0.12 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Canaccord Genuity Group reduced their price target on Holley from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. Telsey Advisory Group dropped their price objective on shares of Holley from $4.50 to $2.75 and set an “outperform” rating on the stock in a report on Thursday, May 8th. Benchmark downgraded shares of Holley from a “buy” rating to a “hold” rating and set a $5.00 price objective on the stock. in a report on Friday, May 9th. Truist Financial dropped their target price on Holley from $5.00 to $3.00 and set a “buy” rating on the stock in a report on Monday, April 14th. Finally, Raymond James lifted their price objective on shares of Holley from $3.00 to $3.50 and gave the company an “outperform” rating in a report on Wednesday, March 12th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $3.85.

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.