US Bancorp DE Raises Stock Position in Holley Inc. (NYSE:HLLY)

US Bancorp DE lifted its position in Holley Inc. (NYSE:HLLY) by 15.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 100,979 shares of the company’s stock after purchasing an additional 13,828 shares during the period. US Bancorp DE’s holdings in Holley were worth $298,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Personalized Indexing Management LLC bought a new stake in Holley during the 2nd quarter valued at $42,000. Lazard Asset Management LLC purchased a new position in shares of Holley during the first quarter valued at $43,000. SG Americas Securities LLC bought a new stake in shares of Holley in the third quarter valued at about $52,000. Algert Global LLC lifted its stake in Holley by 31.1% in the second quarter. Algert Global LLC now owns 20,781 shares of the company’s stock worth $74,000 after acquiring an additional 4,924 shares during the period. Finally, American Century Companies Inc. grew its holdings in Holley by 23.3% during the 2nd quarter. American Century Companies Inc. now owns 64,383 shares of the company’s stock worth $230,000 after acquiring an additional 12,186 shares in the last quarter. Institutional investors own 39.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HLLY. Benchmark restated a “buy” rating and issued a $12.00 price target on shares of Holley in a report on Wednesday, September 4th. Canaccord Genuity Group lowered their target price on Holley from $8.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Truist Financial dropped their target price on Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Telsey Advisory Group reduced their price target on Holley from $5.50 to $4.50 and set an “outperform” rating for the company in a research report on Monday. Finally, Raymond James dropped their price objective on Holley from $5.25 to $4.25 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. One equities research analyst has rated the stock with a hold rating and six 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 price target of $6.39.

Holley Stock Performance

Shares of HLLY stock opened at $2.73 on Thursday. Holley Inc. has a 12-month low of $2.29 and a 12-month high of $5.23. The business’s fifty day simple moving average is $2.91 and its 200-day simple moving average is $3.34. The company has a current ratio of 2.93, a quick ratio of 1.19 and a debt-to-equity ratio of 1.20. The company has a market cap of $327.00 million, a PE ratio of 21.00 and a beta of 1.45.

Holley (NYSE:HLLY) last released its quarterly earnings results on Friday, November 8th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04). The business had revenue of $134.00 million during the quarter, compared to analysts’ expectations of $142.53 million. Holley had a net margin of 2.55% and a return on equity of 2.59%. The company’s quarterly revenue was down 14.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.03 earnings per share. Analysts expect that Holley Inc. will post 0.14 earnings per share 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.