Holley Inc. (NYSE:HLLY) Stock Position Increased by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its position in shares of Holley Inc. (NYSE:HLLYFree Report) by 2.3% in the third quarter, Holdings Channel.com reports. The firm owned 286,771 shares of the company’s stock after purchasing an additional 6,558 shares during the period. Bank of New York Mellon Corp’s holdings in Holley were worth $1,431,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of HLLY. Counterpoint Mutual Funds LLC acquired a new stake in shares of Holley in the third quarter worth about $100,000. Raymond James & Associates lifted its position in shares of Holley by 32.1% in the second quarter. Raymond James & Associates now owns 15,595 shares of the company’s stock worth $64,000 after buying an additional 3,791 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of Holley in the second quarter worth about $148,000. Denali Advisors LLC acquired a new stake in shares of Holley in the third quarter worth about $290,000. Finally, Portside Wealth Group LLC acquired a new stake in shares of Holley in the second quarter worth about $171,000. Institutional investors and hedge funds own 78.44% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on HLLY shares. Jefferies Financial Group raised Holley from a “hold” rating to a “buy” rating and reduced their price target for the stock from $8.00 to $5.00 in a research report on Wednesday, November 15th. Truist Financial cut their price objective on Holley from $10.00 to $9.00 and set a “buy” rating for the company in a research report on Thursday, November 9th. Telsey Advisory Group cut Holley from an “outperform” rating to a “market perform” rating and set a $9.00 price objective for the company. in a research report on Friday, November 3rd. JPMorgan Chase & Co. cut their price objective on Holley from $9.00 to $7.50 and set an “overweight” rating for the company in a research report on Tuesday, November 7th. Finally, Raymond James cut their price objective on Holley from $8.25 to $5.50 and set an “outperform” rating for the company in a research report on Thursday, November 9th. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Holley currently has an average rating of “Moderate Buy” and a consensus price target of $8.36.

View Our Latest Analysis on HLLY

Insider Activity

In other Holley news, CEO Matthew Stevenson purchased 11,147 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were acquired at an average cost of $3.99 per share, for a total transaction of $44,476.53. Following the transaction, the chief executive officer now directly owns 2,405,858 shares in the company, valued at $9,599,373.42. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Holley news, CEO Matthew Stevenson purchased 11,147 shares of the firm’s stock in a transaction that occurred on Tuesday, November 21st. The shares were acquired at an average cost of $3.99 per share, for a total transaction of $44,476.53. Following the transaction, the chief executive officer now directly owns 2,405,858 shares in the company, valued at $9,599,373.42. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ginger M. Jones purchased 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were acquired at an average price of $3.77 per share, for a total transaction of $37,700.00. Following the completion of the transaction, the director now owns 71,299 shares in the company, valued at $268,797.23. The disclosure for this purchase can be found here.

Holley Trading Down 4.1 %

HLLY stock opened at $4.70 on Thursday. Holley Inc. has a 1-year low of $1.93 and a 1-year high of $8.06. The firm has a market cap of $557.28 million, a P/E ratio of 156.67 and a beta of 1.60. The business’s 50 day moving average is $4.68 and its 200-day moving average is $4.98. The company has a current ratio of 3.43, a quick ratio of 1.10 and a debt-to-equity ratio of 1.38.

Holley (NYSE:HLLYGet Free Report) last released its quarterly earnings data on Wednesday, November 8th. The company reported $0.03 earnings per share for the quarter, meeting the consensus estimate of $0.03. Holley had a return on equity of 0.70% and a net margin of 0.42%. The company had revenue of $156.53 million for the quarter, compared to analyst estimates of $156.62 million. Equities analysts anticipate that Holley Inc. will post 0.22 earnings per share for the current fiscal year.

Holley Profile

(Free Report)

Holley Inc operates as designer, marketer, and manufacturer of automotive aftermarket products for car and truck enthusiasts. Its products span various automotive platforms and sells across multiple channels. The company's 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.

See Also

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Institutional Ownership by Quarter for Holley (NYSE:HLLY)

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