Renaissance Technologies LLC Sells 225,183 Shares of Holley Inc. $HLLY

Renaissance Technologies LLC trimmed its stake in Holley Inc. (NYSE:HLLY) by 20.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 873,100 shares of the company’s stock after selling 225,183 shares during the quarter. Renaissance Technologies LLC’s holdings in Holley were worth $2,680,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of HLLY. Arrowstreet Capital Limited Partnership lifted its stake in Holley by 5.4% in the first quarter. Arrowstreet Capital Limited Partnership now owns 1,646,748 shares of the company’s stock valued at $5,056,000 after purchasing an additional 84,837 shares during the last quarter. State of Wyoming grew its holdings in Holley by 292.8% during the first quarter. State of Wyoming now owns 125,425 shares of the company’s stock valued at $385,000 after purchasing an additional 93,497 shares during the period. Dimensional Fund Advisors LP increased its position in Holley by 25.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,447,266 shares of the company’s stock worth $7,512,000 after buying an additional 495,923 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in Holley by 1.3% in the first quarter. Allspring Global Investments Holdings LLC now owns 9,823,903 shares of the company’s stock worth $30,749,000 after buying an additional 122,331 shares during the last quarter. Finally, Hillsdale Investment Management Inc. raised its stake in shares of Holley by 1.0% in the first quarter. Hillsdale Investment Management Inc. now owns 1,929,461 shares of the company’s stock valued at $5,923,000 after buying an additional 18,900 shares during the period. 39.70% of the stock is owned by institutional investors.

Holley Stock Up 0.2%

HLLY stock opened at $3.17 on Monday. The company has a quick ratio of 1.39, a current ratio of 3.06 and a debt-to-equity ratio of 1.15. The firm has a market capitalization of $385.64 million, a PE ratio of 39.69 and a beta of 1.31. Holley Inc. has a twelve month low of $2.33 and a twelve month high of $4.48. The stock has a 50-day simple moving average of $2.60 and a two-hundred day simple moving average of $3.11.

Holley (NYSE:HLLY) last announced its quarterly earnings results on Wednesday, August 5th. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.08. Holley had a net margin of 1.68% and a return on equity of 8.41%. The firm had revenue of $172.01 million for the quarter, compared to the consensus estimate of $172.63 million. On average, equities analysts predict that Holley Inc. will post 0.39 EPS for the current fiscal year.

Holley announced that its board has initiated a stock buyback program on Tuesday, May 26th that permits the company to repurchase $25.00 million in outstanding shares. This repurchase authorization permits the company to repurchase up to 8.2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on HLLY shares. Weiss Ratings cut Holley from a “sell (d+)” rating to a “sell (d)” rating in a research report on Thursday. Freedom Capital raised Holley to a “strong-buy” rating in a report on Tuesday, July 7th. Benchmark lowered their price objective on Holley from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $7.00 price objective on shares of Holley in a report on Monday, June 29th. Finally, Wall Street Zen upgraded shares of Holley from a “hold” rating to a “buy” rating in a research report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $4.90.

Holley Company Profile

Holley Inc is a designer, manufacturer and marketer of high‐performance automotive products for the enthusiast market. Through its portfolio of well‐known brands, the company develops fuel delivery systems, intake manifolds, ignition components, nitrous oxide systems, digital controls and other engine‐dress accessories tailored to both street and competition applications. Holley’s products are sold through a network of domestic and international distributors, retailers and directly to professional race teams and hobbyists.

The company’s product offerings span mechanical and electronic fuel injection, carburetion, engine management, add‐on power systems and calibration tools.