JPMorgan Chase & Co. Acquires 74,885 Shares of Holley Inc. (NYSE:HLLY)

JPMorgan Chase & Co. grew its holdings in shares of Holley Inc. (NYSE:HLLY) by 52.1% during the fourth quarter, Holdings Channel reports. The firm owned 218,645 shares of the company’s stock after purchasing an additional 74,885 shares during the period. JPMorgan Chase & Co.’s holdings in Holley were worth $660,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Atria Wealth Solutions Inc. acquired a new position in Holley during the fourth quarter worth $30,000. Catalyst Funds Management Pty Ltd bought a new stake in shares of Holley during the 4th quarter worth about $31,000. Cottonwood Capital Advisors LLC bought a new position in shares of Holley in the 4th quarter valued at approximately $32,000. Williams & Novak LLC bought a new stake in Holley during the fourth quarter worth approximately $44,000. Finally, Janney Montgomery Scott LLC boosted its position in Holley by 25.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 16,035 shares of the company’s stock worth $48,000 after purchasing an additional 3,210 shares during the period. Institutional investors and hedge funds own 39.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Telsey Advisory Group restated an “outperform” rating and issued a $4.50 price objective on shares of Holley in a research note on Wednesday, March 12th. Truist Financial cut their target price on shares of Holley from $5.00 to $3.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Finally, Raymond James upped their price target on shares of Holley from $3.00 to $3.50 and gave the company an “outperform” rating in a report on Wednesday, March 12th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $6.00.

Holley Price Performance

NYSE:HLLY opened at $2.08 on Wednesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.93 and a quick ratio of 1.17. Holley Inc. has a one year low of $1.93 and a one year high of $4.18. The company has a fifty day moving average price of $2.44 and a 200 day moving average price of $2.72. The stock has a market cap of $248.91 million, a P/E ratio of 15.96 and a beta of 1.41.

Holley (NYSE:HLLY) last announced its quarterly earnings data on Tuesday, March 11th. The company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.09. Holley had a net margin of 2.55% and a return on equity of 2.59%. The business had revenue of $140.05 million during the quarter, compared to analyst estimates of $137.60 million. During the same quarter in the prior year, the business earned $0.01 earnings per share. The firm’s revenue for the quarter was down 10.1% on a year-over-year basis. Analysts anticipate that Holley Inc. will post 0.12 earnings per share 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.