Holley Inc. (NYSE:HLLY) Stake Raised by Norden Group LLC

Norden Group LLC grew its holdings in shares of Holley Inc. (NYSE:HLLY) by 1,717.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 616,196 shares of the company’s stock after purchasing an additional 582,283 shares during the quarter. Norden Group LLC’s holdings in Holley were worth $2,748,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC raised its holdings in shares of Holley by 1.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 4,180,819 shares of the company’s stock valued at $18,646,000 after buying an additional 47,070 shares during the last quarter. Skylands Capital LLC raised its holdings in Holley by 7.2% during the fourth quarter. Skylands Capital LLC now owns 589,400 shares of the company’s stock worth $2,870,000 after purchasing an additional 39,600 shares in the last quarter. Trexquant Investment LP raised its holdings in Holley by 7.2% during the fourth quarter. Trexquant Investment LP now owns 106,027 shares of the company’s stock worth $516,000 after purchasing an additional 7,151 shares in the last quarter. Portside Wealth Group LLC raised its holdings in 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 purchasing an additional 3,370 shares in the last quarter. Finally, Baker Tilly Wealth Management LLC raised its holdings in Holley by 11.7% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 32,659 shares of the company’s stock worth $159,000 after purchasing an additional 3,414 shares in the last quarter. Institutional investors own 39.70% of the company’s stock.

Insider Buying and Selling at Holley

In other news, Chairman Matthew E. Rubel acquired 14,493 shares of the stock in a transaction on Wednesday, June 12th. The shares were purchased at an average cost of $3.39 per share, for a total transaction of $49,131.27. Following the transaction, the chairman now owns 169,979 shares in the company, valued at approximately $576,228.81. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 2.20% of the stock is owned by corporate insiders.

Holley Price Performance

NYSE HLLY opened at $3.45 on Friday. The stock has a market capitalization of $411.62 million, a P/E ratio of 21.56 and a beta of 1.47. Holley Inc. has a 1 year low of $3.16 and a 1 year high of $8.06. The business’s fifty day moving average is $3.71 and its two-hundred day moving average is $4.26. The company has a debt-to-equity ratio of 1.26, a quick ratio of 1.04 and a current ratio of 2.85.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on HLLY shares. Canaccord Genuity Group reissued a “buy” rating and set a $8.00 target price on shares of Holley in a report on Friday, June 21st. Telsey Advisory Group reissued an “outperform” rating and set a $6.50 target price on shares of Holley in a report on Tuesday, June 4th. Finally, Benchmark reissued a “buy” rating and set a $12.00 target price on shares of Holley in a report on Tuesday, June 18th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $7.47.

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.