Daiwa Securities Group Inc. Has $615,000 Stake in Holley Inc. (NYSE:HLLY)

Daiwa Securities Group Inc. reduced its position in shares of Holley Inc. (NYSE:HLLY) by 3.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 171,868 shares of the company’s stock after selling 7,000 shares during the quarter. Daiwa Securities Group Inc. owned 0.14% of Holley worth $615,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of HLLY. Skylands Capital LLC increased its stake in Holley by 37.6% in the 2nd quarter. Skylands Capital LLC now owns 1,123,800 shares of the company’s stock valued at $4,023,000 after buying an additional 306,874 shares during the period. Allspring Global Investments Holdings LLC boosted its position in Holley by 129.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 9,590,816 shares of the company’s stock valued at $34,335,000 after purchasing an additional 5,409,997 shares during the last quarter. Lazard Asset Management LLC purchased a new position in Holley in the first quarter valued at about $43,000. Sei Investments Co. increased its position in Holley by 1.3% in the 1st quarter. Sei Investments Co. now owns 403,759 shares of the company’s stock worth $1,801,000 after purchasing an additional 5,000 shares during the last quarter. Finally, GSA Capital Partners LLP purchased a new stake in shares of Holley during the 1st quarter worth about $937,000. Hedge funds and other institutional investors own 39.70% of the company’s stock.

Holley Stock Performance

Shares of NYSE HLLY opened at $3.35 on Tuesday. Holley Inc. has a 12 month low of $2.94 and a 12 month high of $5.67. The company has a market cap of $399.10 million, a P/E ratio of 20.91 and a beta of 1.44. The business’s 50 day moving average is $3.39 and its two-hundred day moving average is $3.75. The company has a quick ratio of 1.19, a current ratio of 2.80 and a debt-to-equity ratio of 1.18.

Holley (NYSE:HLLY) last released its earnings results on Wednesday, August 7th. The company reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. The firm had revenue of $169.50 million during the quarter, compared to analysts’ expectations of $170.40 million. Holley had a net margin of 3.56% and a return on equity of 3.51%. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.14 EPS. On average, equities analysts expect that Holley Inc. will post 0.19 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Truist Financial lowered their price target on Holley from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $5.50 price objective on shares of Holley in a research note on Monday, September 9th. Canaccord Genuity Group lowered their target price on shares of Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Benchmark reaffirmed a “buy” rating and issued a $12.00 price target on shares of Holley in a research report on Wednesday, September 4th. Finally, Raymond James cut their price objective on Holley from $5.25 to $4.25 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.