Holley Inc. (NYSE:HLLY) Stock Position Boosted by First Eagle Investment Management LLC

First Eagle Investment Management LLC grew its stake in shares of Holley Inc. (NYSE:HLLY) by 158.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 211,087 shares of the company’s stock after acquiring an additional 129,569 shares during the period. First Eagle Investment Management LLC’s holdings in Holley were worth $637,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Atria Wealth Solutions Inc. acquired a new position in shares of Holley during the fourth quarter valued at approximately $30,000. Cottonwood Capital Advisors LLC acquired a new position in shares of Holley during the 4th quarter valued at $32,000. Verition Fund Management LLC acquired a new position in shares of Holley during the 3rd quarter valued at $35,000. Intech Investment Management LLC bought a new stake in shares of Holley in the 3rd quarter worth $41,000. Finally, Williams & Novak LLC acquired a new stake in shares of Holley in the fourth quarter valued at $44,000. 39.70% of the stock is owned by institutional investors and hedge funds.

Holley Trading Down 1.0 %

Shares of HLLY opened at $2.41 on Monday. The business’s 50-day moving average price is $2.87 and its 200 day moving average price is $2.89. The company has a current ratio of 2.93, a quick ratio of 1.17 and a debt-to-equity ratio of 1.20. The stock has a market capitalization of $288.11 million, a P/E ratio of 18.50 and a beta of 1.44. Holley Inc. has a 1-year low of $2.26 and a 1-year high of $4.58.

Holley (NYSE:HLLY) last announced its earnings results on Tuesday, March 11th. The company reported $0.11 EPS for the quarter, topping the consensus estimate of $0.02 by $0.09. Holley had a net margin of 2.55% and a return on equity of 2.59%. The company had revenue of $140.05 million during the quarter, compared to analysts’ expectations of $137.60 million. During the same period last year, the company posted $0.01 earnings per share. The business’s revenue for the quarter was down 10.1% on a year-over-year basis. Analysts expect that Holley Inc. will post 0.12 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Raymond James boosted their price target on shares of Holley from $3.00 to $3.50 and gave the stock an “outperform” rating in a research report on Wednesday, March 12th. Telsey Advisory Group reiterated an “outperform” rating and issued a $4.50 target price on shares of Holley in a report on Wednesday, March 12th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $6.80.

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.