Victory Capital Management Inc. Reduces Holdings in Holley Inc. (NYSE:HLLY)

Victory Capital Management Inc. lessened its holdings in Holley Inc. (NYSE:HLLY) by 41.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 202,049 shares of the company’s stock after selling 140,197 shares during the period. Victory Capital Management Inc.’s holdings in Holley were worth $723,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Lazard Asset Management LLC acquired a new position in shares of Holley during the 1st quarter worth approximately $43,000. SYSTM Wealth Solutions LLC purchased a new position in Holley during the first quarter worth $90,000. Norden Group LLC raised its holdings in shares of Holley by 28.8% in the first quarter. Norden Group LLC now owns 43,694 shares of the company’s stock worth $195,000 after acquiring an additional 9,781 shares during the last quarter. Trexquant Investment LP lifted its position in shares of Holley by 7.2% in the fourth quarter. Trexquant Investment LP now owns 106,027 shares of the company’s stock valued at $516,000 after acquiring an additional 7,151 shares in the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in shares of Holley during the first quarter valued at $937,000. 39.70% of the stock is currently owned by institutional investors and hedge funds.

Holley Stock Performance

Shares of HLLY stock opened at $3.10 on Friday. The firm has a market capitalization of $369.86 million, a price-to-earnings ratio of 19.38 and a beta of 1.44. The company has a 50 day moving average price of $3.37 and a 200 day moving average price of $3.73. Holley Inc. has a one year low of $2.94 and a one year high of $5.23. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.19 and a current ratio of 2.80.

Holley (NYSE:HLLY) last issued its earnings results on Wednesday, August 7th. The company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. Holley had a return on equity of 3.51% and a net margin of 3.56%. The business had revenue of $169.50 million for the quarter, compared to analyst estimates of $170.40 million. During the same period last year, the company posted $0.14 EPS. The business’s quarterly revenue was down 3.3% on a year-over-year basis. Sell-side analysts anticipate that Holley Inc. will post 0.19 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently weighed in on HLLY shares. Canaccord Genuity Group cut their target price 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. Benchmark reissued a “buy” rating and issued a $12.00 price objective on shares of Holley in a research report on Wednesday, September 4th. 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. Truist Financial cut their price target on Holley from $8.00 to $7.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $5.50 price objective on shares of Holley in a report on Monday, September 9th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Holley presently has a consensus rating of “Moderate Buy” and an average target price of $6.54.

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.