Kayne Anderson Rudnick Investment Management LLC Sells 443,823 Shares of Holley Inc. $HLLY

Key Points

• Kayne Anderson Rudnick Investment Management LLC decreased its stake in Holley Inc. by 5.2%, reducing its holdings to approximately 8.08 million shares valued at $20.77 million.
• Analysts show optimism for Holley, with five equities research analysts giving the stock a Buy rating and price targets ranging from $2.75 to $6.00.
• Holley Inc. reported a negative net margin of 5.12% in its latest earnings, missing EPS estimates by $0.01, though it surpassed revenue expectations with $166.66 million.

Kayne Anderson Rudnick Investment Management LLC reduced its stake in shares of Holley Inc. (NYSE:HLLY - Free Report) by 5.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,081,834 shares of the company's stock after selling 443,823 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned 6.74% of Holley worth $20,770,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Boston Partners boosted its holdings in Holley by 65.5% in the first quarter. Boston Partners now owns 2,600,799 shares of the company's stock worth $6,680,000 after purchasing an additional 1,029,495 shares in the last quarter. Bamco Inc. NY lifted its position in shares of Holley by 33.3% in the fourth quarter. Bamco Inc. NY now owns 4,000,000 shares of the company's stock worth $12,080,000 after buying an additional 1,000,000 shares during the last quarter. Mink Brook Asset Management LLC bought a new stake in shares of Holley during the 4th quarter worth about $1,666,000. Bank of America Corp DE increased its holdings in shares of Holley by 53.4% during the 4th quarter. Bank of America Corp DE now owns 1,076,956 shares of the company's stock valued at $3,252,000 after acquiring an additional 374,691 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Holley during the 4th quarter valued at about $1,058,000. 39.70% of the stock is owned by institutional investors and hedge funds.

Holley Price Performance

Shares of HLLY traded up $0.05 during mid-day trading on Thursday, reaching $4.03. The company had a trading volume of 832,859 shares, compared to its average volume of 848,326. The company's 50-day moving average is $2.59 and its 200-day moving average is $2.43. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.93 and a quick ratio of 1.18. The company has a market capitalization of $485.01 million, a P/E ratio of 18.95 and a beta of 1.35. Holley Inc. has a twelve month low of $1.60 and a twelve month high of $4.05.

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

Wall Street Analyst Weigh In

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

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.