Blue Owl Capital Holdings LP Makes New $11.16 Million Investment in Holley Inc. $HLLY

Key Points

• Blue Owl Capital Holdings acquired 4.38 million Holley shares worth approximately $11.16 million, giving it a 3.6% stake and making Holley its 12th-largest holding.
• Holley reported quarterly earnings of $0.20 per share, beating analyst expectations of $0.12, while revenue of $172.01 million was slightly below estimates. The company also authorized a $25 million share buyback, covering up to 8.2% of outstanding shares.
• Institutional investors own 39.7% of Holley, and analyst sentiment is moderately bullish, with an average “Moderate Buy” rating and a $4.90 price target versus the stock’s $3.04 opening price.

Blue Owl Capital Holdings LP purchased a new stake in Holley Inc. (NYSE:HLLY - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 4,376,888 shares of the company's stock, valued at approximately $11,161,000. Holley accounts for 1.7% of Blue Owl Capital Holdings LP's holdings, making the stock its 12th biggest position. Blue Owl Capital Holdings LP owned approximately 3.60% of Holley at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Wasatch Advisors LP acquired a new stake in shares of Holley in the third quarter worth approximately $18,762,000. BlackRock Inc. acquired a new position in Holley during the second quarter worth approximately $14,361,000. Boston Partners raised its stake in Holley by 59.2% during the third quarter. Boston Partners now owns 7,652,545 shares of the company's stock worth $24,028,000 after purchasing an additional 2,845,009 shares during the period. Hillsdale Investment Management Inc. boosted its holdings in shares of Holley by 76,322.4% in the 4th quarter. Hillsdale Investment Management Inc. now owns 1,910,561 shares of the company's stock valued at $7,891,000 after purchasing an additional 1,908,061 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Holley in the 3rd quarter valued at $3,435,000. Institutional investors and hedge funds own 39.70% of the company's stock.

Holley Trading Down 3.2%

Shares of HLLY opened at $3.04 on Friday. Holley Inc. has a 12 month low of $2.33 and a 12 month high of $4.48. The stock's 50-day moving average is $2.69 and its two-hundred day moving average is $3.05. The company has a debt-to-equity ratio of 1.15, a current ratio of 3.06 and a quick ratio of 1.39. The stock has a market cap of $368.54 million, a PE ratio of 38.00 and a beta of 1.31.

Holley (NYSE:HLLY - Get Free Report) last released its quarterly earnings results on Wednesday, August 5th. The company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.08. The firm had revenue of $172.01 million during the quarter, compared to analysts' expectations of $172.63 million. Holley had a return on equity of 8.41% and a net margin of 1.68%. Equities analysts forecast that Holley Inc. will post 0.39 earnings per share for the current fiscal year.

Holley announced that its board has initiated a stock buyback program on Tuesday, May 26th that permits the company to buyback $25.00 million in outstanding shares. This buyback authorization permits the company to buy up to 8.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on HLLY. Wall Street Zen upgraded Holley from a "hold" rating to a "buy" rating in a report on Saturday, August 8th. Weiss Ratings lowered Holley from a "sell (d+)" rating to a "sell (d)" rating in a research note on Thursday, August 6th. Freedom Capital lowered Holley from a "strong-buy" rating to a "hold" rating in a research note on Thursday, August 13th. Zacks Research upgraded Holley from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. Finally, Canaccord Genuity Group restated a "buy" rating and issued a $7.00 price target on shares of Holley in a report on Monday, June 29th. 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 stock. Based on data from MarketBeat.com, Holley currently has an average rating of "Moderate Buy" and an average target price of $4.90.

Holley Company Profile

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.

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