Russell Investments Group Ltd. Raises Position in Holley Inc. $HLLY

Key Points

• Russell Investments Group Ltd. has increased its stake in Holley Inc. by 12.4% in the first quarter, now owning approximately 920,936 shares valued at about $2.37 million.
• Analysts have raised their ratings and target prices for Holley, with the average target now set at $3.75 and multiple firms upgrading the stock to a "buy" rating.
• Holley reported a loss per share of $0.09 in its latest earnings report, missing estimates of $0.10, despite revenue exceeding expectations at $166.66 million.

Russell Investments Group Ltd. boosted its position in Holley Inc. (NYSE:HLLY - Free Report) by 12.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 920,936 shares of the company's stock after acquiring an additional 101,800 shares during the period. Russell Investments Group Ltd. owned 0.77% of Holley worth $2,367,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its holdings in Holley by 9.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,180,045 shares of the company's stock worth $3,564,000 after acquiring an additional 104,071 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Holley by 1.7% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 10,337,982 shares of the company's stock worth $26,569,000 after acquiring an additional 170,132 shares during the last quarter. Bamco Inc. NY grew its holdings in Holley by 33.3% in the 4th quarter. Bamco Inc. NY now owns 4,000,000 shares of the company's stock worth $12,080,000 after acquiring an additional 1,000,000 shares during the last quarter. Squarepoint Ops LLC grew its holdings in Holley by 112.9% in the 4th quarter. Squarepoint Ops LLC now owns 46,636 shares of the company's stock worth $141,000 after acquiring an additional 24,733 shares during the last quarter. Finally, Mink Brook Asset Management LLC bought a new stake in Holley in the 4th quarter worth $1,666,000. Institutional investors own 39.70% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on HLLY shares. Wall Street Zen raised shares of Holley from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Benchmark raised shares of Holley from a "hold" rating to a "buy" rating and set a $4.00 price target on the stock in a report on Friday, August 8th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $2.75 target price on shares of Holley in a research note on Thursday, July 31st. Raymond James Financial lifted 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. Finally, Canaccord Genuity Group lifted 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. Five investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $3.75.

Holley Stock Up 0.9%

NYSE HLLY traded up $0.04 during trading hours on Friday, reaching $4.07. 441,177 shares of the company's stock traded hands, compared to its average volume of 872,461. Holley Inc. has a 52-week low of $1.60 and a 52-week high of $4.09. The firm has a market cap of $489.83 million, a PE ratio of -15.63 and a beta of 1.35. The firm has a 50-day simple moving average of $2.67 and a 200 day simple moving average of $2.44. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.93 and a quick ratio of 1.18.

Holley (NYSE:HLLY - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $0.09 earnings per share (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 business had revenue of $166.66 million for the quarter, compared to analysts' expectations of $162.67 million. Sell-side analysts anticipate that Holley Inc. will post 0.12 EPS 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.