Empowered Funds LLC Has $734,000 Stake in Holley Inc. (NYSE:HLLY)

Empowered Funds LLC lifted its stake in Holley Inc. (NYSE:HLLY) by 5.3% during the third quarter, Holdings Channel reports. The fund owned 248,973 shares of the company’s stock after acquiring an additional 12,596 shares during the quarter. Empowered Funds LLC’s holdings in Holley were worth $734,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC raised 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 valued at $34,335,000 after purchasing an additional 5,409,997 shares during the period. Dimensional Fund Advisors LP raised its holdings in Holley by 52.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 975,034 shares of the company’s stock worth $3,491,000 after acquiring an additional 334,940 shares during the period. Skylands Capital LLC raised its holdings in Holley by 37.6% in the 2nd quarter. Skylands Capital LLC now owns 1,123,800 shares of the company’s stock worth $4,023,000 after acquiring an additional 306,874 shares during the period. Renaissance Technologies LLC lifted its position in Holley by 665.2% during the 2nd quarter. Renaissance Technologies LLC now owns 131,500 shares of the company’s stock worth $471,000 after acquiring an additional 114,314 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in Holley during the third quarter valued at about $52,000. 39.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on HLLY shares. Canaccord Genuity Group cut their price objective on Holley from $8.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Raymond James cut their price target on Holley from $5.25 to $4.25 and set an “outperform” rating for the company in a report on Thursday, August 8th. Truist Financial lowered their price objective 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. Telsey Advisory Group cut their target price on shares of Holley from $5.50 to $4.50 and set an “outperform” rating for the company in a research note on Monday, November 11th. Finally, Benchmark reissued 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.63.

Holley Stock Performance

HLLY opened at $2.88 on Friday. The stock’s 50 day simple moving average is $2.85 and its 200-day simple moving average is $3.27. 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 stock has a market cap of $345.02 million, a PE ratio of 22.15 and a beta of 1.45. Holley Inc. has a 1 year low of $2.29 and a 1 year high of $5.23.

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 analysts’ consensus estimates of $0.03 by ($0.04). Holley had a net margin of 2.55% and a return on equity of 2.59%. The business had revenue of $134.00 million during the quarter, compared to analyst estimates of $142.53 million. During the same quarter in the prior year, the company posted $0.03 EPS. The company’s quarterly revenue was down 14.4% compared to the same quarter last year. Sell-side analysts forecast that Holley Inc. will post 0.14 EPS for the current year.

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.