Holley Inc. $HLLY Shares Acquired by Charles Schwab Investment Management Inc.

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Holley Inc. by 20.4%, owning a total of 473,950 shares valued at approximately $1.2 million.
• Holley received several upgrades from analysts, with a consensus rating of "Buy" and a price target of $3.75 following multiple ratings adjustments by firms like Benchmark and Raymond James.
• The company reported earnings of $0.09 per share for the last quarter, slightly missing estimates, but generated revenue of $166.66 million, exceeding expectations.

Charles Schwab Investment Management Inc. boosted its stake in Holley Inc. (NYSE:HLLY - Free Report) by 20.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 473,950 shares of the company's stock after acquiring an additional 80,366 shares during the period. Charles Schwab Investment Management Inc. owned 0.40% of Holley worth $1,218,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new stake in shares of Holley during the 4th quarter worth approximately $26,000. ProShare Advisors LLC acquired a new position in Holley in the 4th quarter valued at $40,000. Nisa Investment Advisors LLC increased its holdings in shares of Holley by 994.4% during the 1st 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 last quarter. KPP Advisory Services LLC acquired a new stake in shares of Holley during the 1st quarter worth $99,000. Finally, Graham Capital Management L.P. acquired a new stake in Holley in the 4th quarter valued at $105,000. Institutional investors and hedge funds own 39.70% of the company's stock.

Wall Street Analysts Forecast Growth

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

Holley Stock Performance

NYSE:HLLY opened at $4.07 on Tuesday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.18 and a current ratio of 2.93. The firm's 50-day moving average is $2.72 and its 200-day moving average is $2.45. Holley Inc. has a 52-week low of $1.60 and a 52-week high of $4.09. The company has a market cap of $489.83 million, a price-to-earnings ratio of -15.63 and a beta of 1.41.

Holley (NYSE:HLLY - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.01). The business had revenue of $166.66 million during the quarter, compared to the consensus estimate of $162.67 million. Holley had a negative net margin of 5.12% and a positive return on equity of 5.81%. Equities research 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.

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