Skylands Capital LLC Purchases 39,600 Shares of Holley Inc. (NYSE:HLLY)

Skylands Capital LLC grew its position in Holley Inc. (NYSE:HLLY) by 7.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 589,400 shares of the company’s stock after purchasing an additional 39,600 shares during the quarter. Skylands Capital LLC owned approximately 0.50% of Holley worth $2,870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of HLLY. Allspring Global Investments Holdings LLC lifted its holdings in Holley by 3.0% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 4,133,749 shares of the company’s stock worth $20,131,000 after purchasing an additional 121,251 shares in the last quarter. Portside Wealth Group LLC boosted its position in shares of Holley by 8.4% during the fourth quarter. Portside Wealth Group LLC now owns 43,311 shares of the company’s stock worth $211,000 after acquiring an additional 3,370 shares during the last quarter. SG Americas Securities LLC grew its stake in Holley by 75.7% during the fourth quarter. SG Americas Securities LLC now owns 28,577 shares of the company’s stock valued at $139,000 after acquiring an additional 12,309 shares in the last quarter. Baker Tilly Wealth Management LLC increased its holdings in Holley by 11.7% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 32,659 shares of the company’s stock valued at $159,000 after acquiring an additional 3,414 shares during the last quarter. Finally, Bamco Inc. NY increased its holdings in Holley by 11.1% in the 3rd quarter. Bamco Inc. NY now owns 5,000,000 shares of the company’s stock valued at $24,950,000 after acquiring an additional 500,000 shares during the last quarter. 39.70% of the stock is owned by hedge funds and other institutional investors.

Holley Trading Up 1.3 %

Holley stock traded up $0.05 during midday trading on Monday, reaching $4.05. The stock had a trading volume of 230,813 shares, compared to its average volume of 290,833. Holley Inc. has a 52-week low of $2.08 and a 52-week high of $8.06. The company has a fifty day moving average of $4.31 and a 200 day moving average of $4.45. The firm has a market cap of $481.14 million, a price-to-earnings ratio of 23.53 and a beta of 1.52. The company has a quick ratio of 1.12, a current ratio of 3.17 and a debt-to-equity ratio of 1.31.

Holley (NYSE:HLLY) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate 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 for the quarter, compared to the consensus estimate of $153.26 million. During the same period in the prior year, the business posted ($0.19) earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, analysts anticipate that Holley Inc. will post 0.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Canaccord Genuity Group decreased their target price on Holley from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. JPMorgan Chase & Co. downgraded 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 report on Tuesday, February 20th. Benchmark restated a “buy” rating and issued a $12.00 price target on shares of Holley in a research report on Thursday, March 28th. Truist Financial dropped their price objective on shares of Holley from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $9.00 target price on shares of Holley in a research report on Thursday, February 29th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Holley has an average rating of “Moderate Buy” and a consensus price target of $7.75.

Insider Transactions at Holley

In related news, Director Graham Clempson purchased 59,076 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were purchased at an average cost 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 approximately $266,897.18. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.20% of the company’s stock.

Holley 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.