Bamco Inc. NY Acquires 1,000,000 Shares of Holley Inc. (NYSE:HLLY)

Bamco Inc. NY boosted its holdings in shares of Holley Inc. (NYSE:HLLY - Free Report) by 33.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,000,000 shares of the company's stock after acquiring an additional 1,000,000 shares during the quarter. Bamco Inc. NY owned 3.34% of Holley worth $12,080,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HLLY. Blue Owl Capital Holdings LP grew its stake in shares of Holley by 17.3% in the fourth quarter. Blue Owl Capital Holdings LP now owns 2,990,294 shares of the company's stock worth $9,031,000 after purchasing an additional 440,040 shares during the last quarter. Boston Partners bought a new stake in shares of Holley in the 4th quarter valued at about $4,746,000. Skylands Capital LLC increased its stake in shares of Holley by 4.3% in the fourth quarter. Skylands Capital LLC now owns 1,193,983 shares of the company's stock valued at $3,606,000 after buying an additional 49,383 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Holley by 9.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,180,045 shares of the company's stock worth $3,564,000 after acquiring an additional 104,071 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Holley by 1.9% in the fourth quarter. Geode Capital Management LLC now owns 1,159,335 shares of the company's stock worth $3,502,000 after acquiring an additional 21,524 shares during the period. 39.70% of the stock is currently owned by institutional investors and hedge funds.

Holley Stock Down 1.3 %

Shares of NYSE HLLY opened at $2.21 on Monday. The company has a quick ratio of 1.17, a current ratio of 2.93 and a debt-to-equity ratio of 1.20. The firm has a market cap of $265.11 million, a PE ratio of 17.00 and a beta of 1.41. The company's fifty day simple moving average is $2.40 and its 200 day simple moving average is $2.71. Holley Inc. has a 12-month low of $1.93 and a 12-month high of $4.18.

Holley (NYSE:HLLY - Get Free Report) last issued its earnings results on Tuesday, March 11th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.02 by $0.09. Holley had a return on equity of 2.59% and a net margin of 2.55%. The company had revenue of $140.05 million during the quarter, compared to the consensus estimate of $137.60 million. During the same period last year, the business posted $0.01 EPS. The firm's revenue for the quarter was down 10.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Holley Inc. will post 0.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on HLLY shares. Raymond James raised their price target on shares of Holley from $3.00 to $3.50 and gave the stock an "outperform" rating in a report on Wednesday, March 12th. Telsey Advisory Group reissued an "outperform" rating and set a $4.50 target price on shares of Holley in a research note on Wednesday, April 30th. Finally, Truist Financial cut their price target on shares of Holley from $5.00 to $3.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Holley has an average rating of "Buy" and an average price target of $6.00.

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.

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