Williams & Novak LLC Takes $44,000 Position in Holley Inc. (NYSE:HLLY)

Williams & Novak LLC acquired a new position in shares of Holley Inc. (NYSE:HLLY) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 14,420 shares of the company’s stock, valued at approximately $44,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. American Century Companies Inc. lifted its position in shares of Holley by 23.3% in the 2nd quarter. American Century Companies Inc. now owns 64,383 shares of the company’s stock worth $230,000 after buying an additional 12,186 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Holley by 52.3% during the second 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. Renaissance Technologies LLC raised its stake in Holley by 665.2% during the second 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 period. Vanguard Personalized Indexing Management LLC bought a new position in Holley in the second quarter worth about $42,000. Finally, Squarepoint Ops LLC boosted its stake in Holley by 3.3% in the second quarter. Squarepoint Ops LLC now owns 136,795 shares of the company’s stock valued at $490,000 after acquiring an additional 4,413 shares during the period. Institutional investors and hedge funds own 39.70% of the company’s stock.

Insider Activity

In other news, Director David S. Lobel sold 1,743,356 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $3.00, for a total value of $5,230,068.00. Following the completion of the sale, the director now directly owns 41,556,961 shares of the company’s stock, valued at approximately $124,670,883. This represents a 4.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.92% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Telsey Advisory Group reiterated an “outperform” rating and set a $4.50 price target on shares of Holley in a research report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $6.63.

Holley Price Performance

NYSE HLLY opened at $3.16 on Wednesday. The company has a 50-day moving average price of $2.93 and a two-hundred day moving average price of $3.05. Holley Inc. has a 52 week low of $2.29 and a 52 week high of $5.23. The stock has a market cap of $377.97 million, a price-to-earnings ratio of 24.27 and a beta of 1.42. 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 (NYSE:HLLY) last issued 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). The business 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 business’s quarterly revenue was down 14.4% compared to the same quarter last year. During the same period last year, the company earned $0.03 earnings per share. Analysts forecast that Holley Inc. will post 0.12 EPS for the current 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.