Boston Partners Purchases 1,029,495 Shares of Holley Inc. $HLLY

Key Points

• Boston Partners increased its stake in Holley Inc. (NYSE:HLLY) by 65.5% during the first quarter, now owning approximately 2.17% of the company, valued at $6.68 million.
• Holley reported $0.09 earnings per share for the last quarter, missing estimates, with revenue surpassing expectations at $166.66 million.
• Equities analysts have shown optimism for Holley, with several upgrades, including Canaccord Genuity raising the price target from $5.00 to $6.00 and issuing a "buy" rating.

Boston Partners boosted its position in Holley Inc. (NYSE:HLLY - Free Report) by 65.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,600,799 shares of the company's stock after purchasing an additional 1,029,495 shares during the period. Boston Partners owned about 2.17% of Holley worth $6,680,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. BNP Paribas Financial Markets purchased a new position in Holley in the fourth quarter worth about $26,000. ProShare Advisors LLC purchased a new position in Holley in the fourth quarter worth about $40,000. Nisa Investment Advisors LLC raised its stake in shares of Holley by 994.4% in the first quarter. Nisa Investment Advisors LLC now owns 16,536 shares of the company's stock worth $42,000 after buying an additional 15,025 shares during the period. KPP Advisory Services LLC purchased a new position in shares of Holley during the 1st quarter valued at about $99,000. Finally, Graham Capital Management L.P. bought a new position in shares of Holley during the 4th quarter valued at approximately $105,000. 39.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have weighed in on HLLY. Raymond James Financial lifted their price target on shares of Holley from $2.25 to $3.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. Wall Street Zen upgraded shares of Holley from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Benchmark upgraded Holley from a "hold" rating to a "buy" rating and set a $4.00 price objective on the stock in a research report on Friday, August 8th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $2.75 price objective on shares of Holley in a research note on Thursday, July 31st. Finally, Canaccord Genuity Group lifted their target price on Holley from $5.00 to $6.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Five equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Holley presently has a consensus rating of "Buy" and a consensus price target of $3.75.

Holley Price Performance

Shares of NYSE:HLLY traded up $0.2650 during mid-day trading on Friday, reaching $3.8950. The stock had a trading volume of 341,554 shares, compared to its average volume of 553,295. The business's 50 day moving average price is $2.45 and its 200 day moving average price is $2.40. Holley Inc. has a 1 year low of $1.60 and a 1 year high of $3.90. The company has a market cap of $469.35 million, a P/E ratio of -15.02 and a beta of 1.35. The company has a current ratio of 2.93, a quick ratio of 1.18 and a debt-to-equity ratio of 1.24.

Holley (NYSE:HLLY - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.10 by ($0.01). Holley had a negative net margin of 5.12% and a positive return on equity of 5.81%. The firm had revenue of $166.66 million for the quarter, compared to the consensus estimate of $162.67 million. Research analysts expect that Holley Inc. will post 0.12 EPS for the current fiscal year.

Holley 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.