Nuveen LLC Buys Shares of 200,335 Holley Inc. $HLLY

Key Points

• Nuveen LLC has acquired a new stake in Holley Inc., purchasing 200,335 shares valued at approximately $515,000, representing a 0.17% ownership at the end of the quarter.
• Holley has received multiple ratings upgrades from analysts, with Canaccord Genuity raising the target price from $5.00 to $6.00 and a consensus buy rating emerging amongst five research analysts.
• The company's stock is currently trading at $3.97, with a market capitalization of $477.78 million and a PE ratio of -15.25.

Nuveen LLC acquired a new position in Holley Inc. (NYSE:HLLY - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 200,335 shares of the company's stock, valued at approximately $515,000. Nuveen LLC owned approximately 0.17% of Holley at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

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

Holley Stock Performance

Shares of Holley stock traded down $0.69 on Wednesday, reaching $2.99. 2,067,327 shares of the company were exchanged, compared to its average volume of 612,377. The firm has a market cap of $359.69 million, a price-to-earnings ratio of -11.48 and a beta of 1.42. Holley Inc. has a 1-year low of $1.60 and a 1-year high of $4.09. 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 company's 50-day moving average is $2.95 and its two-hundred day moving average is $2.50.

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

About Holley

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.