Holley Inc. (NYSE:HLLY) Stake Boosted by ClariVest Asset Management LLC

ClariVest Asset Management LLC increased its position in shares of Holley Inc. (NYSE:HLLY) by 1.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 308,456 shares of the company’s stock after buying an additional 5,431 shares during the quarter. ClariVest Asset Management LLC’s holdings in Holley were worth $1,104,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Trexquant Investment LP raised its position in Holley by 7.2% during the fourth quarter. Trexquant Investment LP now owns 106,027 shares of the company’s stock valued at $516,000 after acquiring an additional 7,151 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Holley by 1.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 4,180,819 shares of the company’s stock worth $18,646,000 after purchasing an additional 47,070 shares during the last quarter. Norden Group LLC raised its holdings in shares of Holley by 1,717.0% during the 1st quarter. Norden Group LLC now owns 616,196 shares of the company’s stock valued at $2,748,000 after purchasing an additional 582,283 shares in the last quarter. SYSTM Wealth Solutions LLC acquired a new stake in shares of Holley in the 1st quarter valued at $90,000. Finally, GSA Capital Partners LLP bought a new stake in Holley in the first quarter worth $937,000. Institutional investors and hedge funds own 39.70% of the company’s stock.

Holley Stock Down 1.0 %

HLLY opened at $3.09 on Thursday. Holley Inc. has a 1-year low of $2.94 and a 1-year high of $5.67. The business has a 50 day moving average of $3.40 and a 200-day moving average of $3.78. The stock has a market capitalization of $368.67 million, a price-to-earnings ratio of 19.31 and a beta of 1.44. The company has a current ratio of 2.80, a quick ratio of 1.19 and a debt-to-equity ratio of 1.18.

Holley (NYSE:HLLY) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. Holley had a net margin of 3.56% and a return on equity of 3.51%. The firm had revenue of $169.50 million during the quarter, compared to the consensus estimate of $170.40 million. During the same period in the prior year, the firm earned $0.14 EPS. The business’s revenue was down 3.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Holley Inc. will post 0.19 earnings per share for the current year.

Analyst Ratings Changes

HLLY has been the subject of a number of analyst reports. Benchmark reaffirmed a “buy” rating and issued a $12.00 price target on shares of Holley in a research report on Wednesday, September 4th. Canaccord Genuity Group reduced their target price on Holley from $8.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Truist Financial lowered their price target on Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Telsey Advisory Group restated an “outperform” rating and issued a $5.50 price objective on shares of Holley in a research note on Monday. Finally, Raymond James lowered their target price on shares of Holley from $5.25 to $4.25 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $6.54.

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.