Victory Capital Management Inc. Cuts Stock Position in Holley Inc. (NYSE:HLLY)

Victory Capital Management Inc. trimmed its holdings in Holley Inc. (NYSE:HLLY) by 87.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,779 shares of the company’s stock after selling 176,270 shares during the period. Victory Capital Management Inc.’s holdings in Holley were worth $76,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Lazard Asset Management LLC purchased a new stake in Holley in the 1st quarter worth $43,000. Allspring Global Investments Holdings LLC lifted its position in shares of Holley by 129.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 9,590,816 shares of the company’s stock worth $34,335,000 after buying an additional 5,409,997 shares in the last quarter. Skylands Capital LLC lifted its position in shares of Holley by 37.6% in the second quarter. Skylands Capital LLC now owns 1,123,800 shares of the company’s stock worth $4,023,000 after buying an additional 306,874 shares in the last quarter. ClariVest Asset Management LLC boosted its stake in Holley by 1.8% during the second quarter. ClariVest Asset Management LLC now owns 308,456 shares of the company’s stock valued at $1,104,000 after buying an additional 5,431 shares during the last quarter. 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 valued at $230,000 after buying an additional 12,186 shares in the last quarter. Institutional investors own 39.70% of the company’s stock.

Holley Price Performance

Holley stock opened at $2.84 on Monday. Holley Inc. has a 12-month low of $2.29 and a 12-month high of $5.23. The company has a current ratio of 2.93, a quick ratio of 1.17 and a debt-to-equity ratio of 1.20. The firm has a 50-day moving average price of $2.81 and a 200-day moving average price of $3.24. The firm has a market capitalization of $340.22 million, a PE ratio of 21.85 and a beta of 1.45.

Holley (NYSE:HLLY) last announced its quarterly earnings data on Friday, November 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.04). The firm had revenue of $134.00 million during the quarter, compared to the consensus estimate of $142.53 million. Holley had a return on equity of 2.59% and a net margin of 2.55%. The firm’s revenue for the quarter was down 14.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.03 EPS. As a group, equities research analysts forecast that Holley Inc. will post 0.12 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HLLY. Telsey Advisory Group decreased their price objective on Holley from $5.50 to $4.50 and set an “outperform” rating on the stock in a report on Monday, November 11th. Truist Financial decreased their price target on shares of Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Canaccord Genuity Group dropped their price objective on shares of Holley from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Raymond James decreased their target price on shares of Holley from $5.25 to $4.25 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Finally, Benchmark reaffirmed a “buy” rating and issued a $12.00 price target on shares of Holley in a report on Wednesday, September 4th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $6.63.

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.