Holley Inc. $HLLY Shares Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global trimmed its stake in Holley by 8.4% in Q4, selling 888,181 shares and leaving it with 9,701,572 shares (about 8.05%) valued at roughly $40.17 million; institutional investors now own about 39.70% of the company.
• Analyst consensus is a “Moderate Buy” (five Buys, two Holds) with a consensus target price of $4.67.
• Holley shares opened at $3.06 (12‑month range $1.60–$4.48; market cap ~$370.6M); the company recently missed EPS ($0.04 vs. $0.09 estimate) while beating revenue ($155.44M vs. $142.76M).

Allspring Global Investments Holdings LLC cut its position in Holley Inc. (NYSE:HLLY - Free Report) by 8.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,701,572 shares of the company's stock after selling 888,181 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 8.05% of Holley worth $40,165,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Wasatch Advisors LP purchased a new position in shares of Holley during the third quarter worth approximately $18,762,000. Boston Partners boosted its stake in Holley by 59.2% during the 3rd 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. Advisory Research Inc. purchased a new position in Holley during the 3rd quarter worth $7,065,000. Arrowstreet Capital Limited Partnership purchased a new position in Holley during the 3rd quarter worth $3,435,000. Finally, Roubaix Capital LLC acquired a new stake in Holley in the third quarter valued at $2,431,000. Hedge funds and other institutional investors own 39.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on HLLY. DA Davidson set a $4.50 target price on shares of Holley in a report on Thursday, March 5th. Canaccord Genuity Group upped their target price on Holley from $7.00 to $8.00 and gave the stock a "buy" rating in a research report on Wednesday, February 18th. Telsey Advisory Group reiterated an "outperform" rating and issued a $5.00 target price on shares of Holley in a research note on Thursday, March 5th. Finally, Weiss Ratings upgraded Holley from a "sell (d)" rating to a "hold (c)" rating in a report on Monday, March 23rd. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $4.67.

Holley Price Performance

HLLY opened at $3.06 on Friday. Holley Inc. has a twelve month low of $1.60 and a twelve month high of $4.48. The firm has a market cap of $370.56 million, a price-to-earnings ratio of 20.43 and a beta of 1.42. The company has a current ratio of 2.75, a quick ratio of 0.96 and a debt-to-equity ratio of 1.15. The company has a fifty day simple moving average of $3.67 and a 200 day simple moving average of $3.67.

Holley (NYSE:HLLY - Get Free Report) last issued its quarterly earnings data on Wednesday, March 4th. The company reported $0.04 EPS for the quarter, missing analysts' consensus estimates of $0.09 by ($0.05). Holley had a return on equity of 4.84% and a net margin of 3.13%.The firm had revenue of $155.44 million during the quarter, compared to analyst estimates of $142.76 million. Equities research analysts expect that Holley Inc. will post 0.12 EPS for the current fiscal year.

About Holley

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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