Blue Owl Capital Holdings LP Purchases New Holdings in Holley Inc. $HLLY

Blue Owl Capital Holdings LP purchased a new position in shares of Holley Inc. (NYSE:HLLY) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,376,888 shares of the company’s stock, valued at approximately $11,161,000. Holley makes up approximately 1.7% of Blue Owl Capital Holdings LP’s holdings, making the stock its 12th biggest holding.

A number of other hedge funds have also bought and sold shares of HLLY. Dimensional Fund Advisors LP grew its position in shares of Holley by 25.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,447,266 shares of the company’s stock worth $7,512,000 after acquiring an additional 495,923 shares in the last quarter. Wasatch Advisors LP lifted its stake in Holley by 35.1% during the second quarter. Wasatch Advisors LP now owns 4,887,038 shares of the company’s stock worth $12,462,000 after purchasing an additional 1,269,256 shares during the last quarter. Hillsdale Investment Management Inc. boosted its holdings in Holley by 76,322.4% in the fourth quarter. Hillsdale Investment Management Inc. now owns 1,910,561 shares of the company’s stock worth $7,891,000 after purchasing an additional 1,908,061 shares during the period. R Squared Ltd acquired a new position in Holley in the fourth quarter worth $62,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Holley by 16.7% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,542 shares of the company’s stock valued at $65,000 after purchasing an additional 4,661 shares during the last quarter. 39.70% of the stock is currently owned by institutional investors and hedge funds.

Holley Trading Down 3.2%

Shares of NYSE:HLLY opened at $3.04 on Friday. The company has a market cap of $368.54 million, a PE ratio of 38.00 and a beta of 1.31. The company’s 50-day moving average price is $2.69 and its 200 day moving average price is $3.05. Holley Inc. has a fifty-two week low of $2.33 and a fifty-two week high of $4.48. The company has a quick ratio of 1.39, a current ratio of 3.06 and a debt-to-equity ratio of 1.15.

Holley (NYSE:HLLY) last posted its earnings results on Wednesday, August 5th. The company reported $0.20 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $172.63 million. Sell-side analysts anticipate that Holley Inc. will post 0.39 earnings per share for the current year.

Holley announced that its board has approved a stock repurchase plan on Tuesday, May 26th that allows the company to repurchase $25.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 8.2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

HLLY has been the topic of a number of research reports. Raymond James Financial set a $4.00 target price on shares of Holley in a report on Thursday, May 7th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $7.00 price target on shares of Holley in a report on Monday, June 29th. Benchmark dropped their price objective on shares of Holley from $4.50 to $4.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. Wall Street Zen raised shares of Holley from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. Finally, Weiss Ratings downgraded Holley from a “sell (d+)” rating to a “sell (d)” rating in a research note on Thursday, August 6th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $4.90.

About Holley

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.