American Century Companies Inc. Grows Stock Holdings in Holley Inc. (NYSE:HLLY)

American Century Companies Inc. lifted its position in shares of Holley Inc. (NYSE:HLLY) by 23.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 64,383 shares of the company’s stock after purchasing an additional 12,186 shares during the period. American Century Companies Inc. owned about 0.05% of Holley worth $230,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of HLLY. Norden Group LLC raised its stake in Holley by 28.8% during the 1st quarter. Norden Group LLC now owns 43,694 shares of the company’s stock worth $195,000 after acquiring an additional 9,781 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Holley by 129.4% during the second quarter. Allspring Global Investments Holdings LLC now owns 9,590,816 shares of the company’s stock worth $34,335,000 after acquiring an additional 5,409,997 shares during the period. Lazard Asset Management LLC acquired a new position in shares of Holley during the first quarter worth about $43,000. ClariVest Asset Management LLC increased its stake in shares of Holley by 1.8% during the second quarter. ClariVest Asset Management LLC now owns 308,456 shares of the company’s stock worth $1,104,000 after acquiring an additional 5,431 shares during the period. Finally, GSA Capital Partners LLP purchased a new stake in Holley during the first quarter worth about $937,000. 39.70% of the stock is owned by hedge funds and other institutional investors.

Holley Stock Performance

NYSE:HLLY opened at $2.81 on Friday. The firm has a 50 day simple moving average of $3.22 and a 200-day simple moving average of $3.65. The company has a debt-to-equity ratio of 1.18, a current ratio of 2.80 and a quick ratio of 1.19. The firm has a market cap of $335.26 million, a PE ratio of 17.56 and a beta of 1.43. Holley Inc. has a 1-year low of $2.75 and a 1-year high of $5.23.

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

Wall Street Analyst Weigh In

A number of research firms recently commented on HLLY. Truist Financial decreased their price objective on shares of Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Raymond James decreased their price objective on shares of Holley from $5.25 to $4.25 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Canaccord Genuity Group reduced their price target on shares of Holley from $8.00 to $7.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $5.50 price target on shares of Holley in a report on Monday, September 9th. 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 equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $6.54.

Holley 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.