MetLife Investment Management LLC Reduces Holdings in Holley Inc. (NYSE:HLLY)

MetLife Investment Management LLC trimmed its position in shares of Holley Inc. (NYSE:HLLY) by 68.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,810 shares of the company’s stock after selling 21,405 shares during the quarter. MetLife Investment Management LLC’s holdings in Holley were worth $29,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Intech Investment Management LLC purchased a new stake in shares of Holley during the third quarter worth approximately $41,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Holley during the second quarter worth approximately $42,000. SG Americas Securities LLC purchased a new stake in shares of Holley during the third quarter worth approximately $52,000. Algert Global LLC increased its position in shares of Holley by 31.1% during the second quarter. Algert Global LLC now owns 20,781 shares of the company’s stock worth $74,000 after purchasing an additional 4,924 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Holley by 23.3% during the second quarter. American Century Companies Inc. now owns 64,383 shares of the company’s stock worth $230,000 after purchasing an additional 12,186 shares in the last quarter. 39.70% of the stock is currently owned by hedge funds and other institutional investors.

Holley Stock Performance

NYSE HLLY opened at $2.86 on Wednesday. The stock has a market cap of $342.02 million, a PE ratio of 21.96 and a beta of 1.47. The company has a current ratio of 2.93, a quick ratio of 1.17 and a debt-to-equity ratio of 1.20. Holley Inc. has a twelve month low of $2.29 and a twelve month high of $5.23. The stock has a fifty day simple moving average of $2.79 and a 200-day simple moving average of $3.19.

Holley (NYSE:HLLY) last released its quarterly earnings results on Friday, November 8th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The business had revenue of $134.00 million for the quarter, compared to analysts’ expectations of $142.53 million. Holley had a return on equity of 2.59% and a net margin of 2.55%. The business’s revenue for the quarter was down 14.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.03 earnings per share. Equities analysts anticipate that Holley Inc. will post 0.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on HLLY. Benchmark reiterated a “buy” rating and set a $12.00 price target on shares of Holley in a research report on Wednesday, September 4th. Telsey Advisory Group dropped their target price on Holley from $5.50 to $4.50 and set an “outperform” rating for the company in a report on Monday, November 11th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, Holley has an average rating of “Moderate Buy” and a consensus target price of $6.63.

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.