Daiwa Securities Group Inc. Sells 10,000 Shares of Holley Inc. (NYSE:HLLY)

Daiwa Securities Group Inc. lessened its holdings in Holley Inc. (NYSE:HLLY) by 5.8% during the 3rd quarter, Holdings Channel reports. The firm owned 161,868 shares of the company’s stock after selling 10,000 shares during the period. Daiwa Securities Group Inc.’s holdings in Holley were worth $478,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of HLLY. Allspring Global Investments Holdings LLC lifted its holdings in Holley by 6.4% in the third quarter. Allspring Global Investments Holdings LLC now owns 10,209,265 shares of the company’s stock valued at $30,117,000 after buying an additional 618,449 shares during the period. Skylands Capital LLC raised its position in shares of Holley by 37.6% during the 2nd quarter. Skylands Capital LLC now owns 1,123,800 shares of the company’s stock valued at $4,023,000 after acquiring an additional 306,874 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Holley by 52.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 975,034 shares of the company’s stock valued at $3,491,000 after purchasing an additional 334,940 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Holley by 10.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 443,469 shares of the company’s stock worth $1,308,000 after purchasing an additional 43,053 shares during the last quarter. Finally, ClariVest Asset Management LLC grew its stake in shares of Holley by 1.8% during the second quarter. ClariVest Asset Management LLC now owns 308,456 shares of the company’s stock worth $1,104,000 after purchasing an additional 5,431 shares during the period. Institutional investors own 39.70% of the company’s stock.

Wall Street Analyst Weigh In

HLLY has been the topic of several analyst reports. Canaccord Genuity Group cut their target price on Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Telsey Advisory Group decreased their price objective on shares of Holley from $5.50 to $4.50 and set an “outperform” rating for the company in a report on Monday, November 11th. Raymond James cut their target price on shares of Holley from $5.25 to $4.25 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Benchmark reissued a “buy” rating and issued a $12.00 price target on shares of Holley in a report on Wednesday, September 4th. Finally, Truist Financial dropped their price objective on Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $6.63.

Holley Stock Down 1.4 %

Shares of HLLY stock opened at $2.84 on Friday. Holley Inc. has a 12-month low of $2.29 and a 12-month high of $5.23. The company has a quick ratio of 1.17, a current ratio of 2.93 and a debt-to-equity ratio of 1.20. The firm has a fifty day moving average of $2.81 and a 200-day moving average of $3.24. The company has a market capitalization of $340.23 million, a price-to-earnings ratio of 21.85 and a beta of 1.45.

Holley (NYSE:HLLY) last released its earnings results on Friday, November 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The firm had revenue of $134.00 million for the quarter, compared to the consensus estimate of $142.53 million. Holley had a return on equity of 2.59% and a net margin of 2.55%. Holley’s revenue for the quarter was down 14.4% on a year-over-year basis. During the same quarter last year, the company posted $0.03 EPS. As a group, equities research analysts predict that Holley Inc. will post 0.12 earnings per share for the current fiscal year.

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.