Bank of New York Mellon Corp Has $501,000 Stock Holdings in Holley Inc. (NYSE:HLLY)

Bank of New York Mellon Corp boosted its position in Holley Inc. (NYSE:HLLY) by 8.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 166,041 shares of the company’s stock after buying an additional 12,261 shares during the quarter. Bank of New York Mellon Corp’s holdings in Holley were worth $501,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HLLY. Janney Montgomery Scott LLC raised its position in shares of Holley by 25.0% during the 4th quarter. Janney Montgomery Scott LLC now owns 16,035 shares of the company’s stock valued at $48,000 after acquiring an additional 3,210 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of Holley by 39.8% during the fourth quarter. SG Americas Securities LLC now owns 24,590 shares of the company’s stock worth $74,000 after purchasing an additional 7,002 shares during the period. Zacks Investment Management boosted its holdings in Holley by 69.5% during the third quarter. Zacks Investment Management now owns 19,658 shares of the company’s stock worth $58,000 after buying an additional 8,061 shares during the last quarter. Atria Wealth Solutions Inc. acquired a new position in shares of Holley during the 4th quarter worth about $30,000. Finally, Cottonwood Capital Advisors LLC bought a new stake in shares of Holley in the 4th quarter valued at about $32,000. 39.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HLLY has been the topic of a number of analyst reports. Raymond James increased their price target on shares of Holley from $3.00 to $3.50 and gave the company an “outperform” rating in a research report on Wednesday, March 12th. Telsey Advisory Group restated an “outperform” rating and issued a $4.50 price target on shares of Holley in a report on Wednesday, March 12th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $6.80.

Holley Trading Up 0.9 %

HLLY opened at $2.70 on Friday. The stock has a market capitalization of $323.29 million, a P/E ratio of 20.73 and a beta of 1.44. The company has a current ratio of 2.93, a quick ratio of 1.17 and a debt-to-equity ratio of 1.20. Holley Inc. has a 12 month low of $2.26 and a 12 month high of $4.58. The firm’s fifty day simple moving average is $2.79 and its 200 day simple moving average is $2.85.

Holley (NYSE:HLLY) last posted its quarterly earnings data on Tuesday, March 11th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.09. Holley had a return on equity of 2.59% and a net margin of 2.55%. The company had revenue of $140.05 million during the quarter, compared to analysts’ expectations of $137.60 million. During the same period in the prior year, the firm earned $0.01 earnings per share. Holley’s revenue for the quarter was down 10.1% compared to the same quarter last year. As a group, research analysts anticipate that Holley Inc. will post 0.12 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.