Dimensional Fund Advisors LP Increases Stock Position in Holley Inc. (NYSE:HLLY)

Dimensional Fund Advisors LP raised its position in shares of Holley Inc. (NYSE:HLLY) by 9.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,180,045 shares of the company’s stock after purchasing an additional 104,071 shares during the period. Dimensional Fund Advisors LP’s holdings in Holley were worth $3,564,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Boston Partners purchased a new position in shares of Holley in the 4th quarter worth about $4,746,000. Russell Investments Group Ltd. raised its position in shares of Holley by 12,719.0% in the 4th quarter. Russell Investments Group Ltd. now owns 819,136 shares of the company’s stock worth $2,474,000 after purchasing an additional 812,746 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Holley in the 4th quarter worth about $1,058,000. First Eagle Investment Management LLC raised its position in shares of Holley by 158.9% in the 4th quarter. First Eagle Investment Management LLC now owns 211,087 shares of the company’s stock worth $637,000 after purchasing an additional 129,569 shares during the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of Holley in the 4th quarter worth about $290,000. Hedge funds and other institutional investors own 39.70% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Truist Financial decreased their target price on Holley from $5.00 to $3.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Benchmark lowered Holley from a “buy” rating to a “hold” rating and set a $5.00 target price for the company. in a research report on Friday, May 9th. Telsey Advisory Group decreased their target price on Holley from $4.50 to $2.75 and set an “outperform” rating for the company in a research report on Thursday, May 8th. Raymond James boosted their target price on Holley from $3.00 to $3.50 and gave the stock an “outperform” rating in a research report on Wednesday, March 12th. Finally, Canaccord Genuity Group decreased their target price on Holley from $6.00 to $5.00 and set a “buy” rating for the company in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Holley presently has a consensus rating of “Moderate Buy” and a consensus price target of $3.85.

Holley Trading Down 2.3%

Holley stock opened at $2.17 on Wednesday. The business has a 50-day simple moving average of $2.31 and a two-hundred day simple moving average of $2.67. The company has a market cap of $260.31 million, a P/E ratio of 16.69 and a beta of 1.43. Holley Inc. has a 52-week low of $1.60 and a 52-week high of $4.08. The company has a quick ratio of 1.17, a current ratio of 2.93 and a debt-to-equity ratio of 1.20.

Holley (NYSE:HLLY) last released its quarterly earnings results on Wednesday, May 14th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.03). The firm had revenue of $153.04 million for the quarter, compared to the consensus estimate of $148.52 million. Holley had a net margin of 2.55% and a return on equity of 2.59%. Analysts predict that Holley Inc. will post 0.12 EPS for the current 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.