SG Americas Securities LLC Boosts Stake in Holley Inc. (NYSE:HLLY)

SG Americas Securities LLC grew its stake in shares of Holley Inc. (NYSE:HLLY) by 75.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,577 shares of the company’s stock after purchasing an additional 12,309 shares during the quarter. SG Americas Securities LLC’s holdings in Holley were worth $139,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of HLLY. Citigroup Inc. lifted its stake in shares of Holley by 1,196.2% during the first quarter. Citigroup Inc. now owns 9,877 shares of the company’s stock worth $137,000 after purchasing an additional 9,115 shares in the last quarter. BlackRock Inc. raised its stake in Holley by 14.3% during the first quarter. BlackRock Inc. now owns 669,274 shares of the company’s stock valued at $9,309,000 after buying an additional 83,933 shares in the last quarter. Sei Investments Co. raised its stake in Holley by 58.8% during the first quarter. Sei Investments Co. now owns 587,460 shares of the company’s stock valued at $8,172,000 after buying an additional 217,469 shares in the last quarter. Vanguard Group Inc. raised its stake in Holley by 37.7% during the first quarter. Vanguard Group Inc. now owns 1,575,637 shares of the company’s stock valued at $21,917,000 after buying an additional 431,355 shares in the last quarter. Finally, Wasatch Advisors Inc. grew its holdings in shares of Holley by 40.6% during the first quarter. Wasatch Advisors Inc. now owns 14,820,059 shares of the company’s stock valued at $206,147,000 after purchasing an additional 4,280,253 shares during the last quarter. Institutional investors and hedge funds own 39.70% of the company’s stock.

Insiders Place Their Bets

In other news, Director Graham Clempson bought 59,076 shares of the business’s stock in a transaction on Thursday, March 14th. The stock was purchased at an average cost of $4.18 per share, for a total transaction of $246,937.68. Following the completion of the transaction, the director now directly owns 63,851 shares of the company’s stock, valued at approximately $266,897.18. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

HLLY has been the subject of several recent research reports. Benchmark reaffirmed a “buy” rating and set a $12.00 target price on shares of Holley in a report on Thursday, March 28th. Telsey Advisory Group reaffirmed an “outperform” rating and set a $9.00 target price on shares of Holley in a report on Thursday, February 29th. Truist Financial lowered their target price on Holley from $9.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Canaccord Genuity Group lowered their target price on Holley from $9.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, February 29th. Finally, JPMorgan Chase & Co. lowered 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 report on Tuesday, February 20th. One investment 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $7.75.

Holley Stock Performance

HLLY opened at $4.15 on Wednesday. The company has a market capitalization of $492.43 million, a price-to-earnings ratio of 24.38 and a beta of 1.52. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.17 and a quick ratio of 1.12. Holley Inc. has a 1-year low of $2.08 and a 1-year high of $8.06. The business has a 50 day moving average price of $4.44 and a two-hundred day moving average price of $4.48.

Holley (NYSE:HLLY) last released its earnings results on Wednesday, February 28th. The company reported $0.01 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.01. The firm had revenue of $155.70 million during the quarter, compared to the consensus estimate of $153.26 million. Holley had a return on equity of 5.77% and a net margin of 2.91%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.19) earnings per share. Research analysts predict that Holley Inc. will post 0.33 EPS for the current fiscal year.

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.