Skylands Capital LLC Decreases Position in Holley Inc. $HLLY

Key Points

• Skylands Capital LLC cut its position in Holley by 23.2% in Q4, selling 313,650 shares and finishing with 1,035,800 shares (about 0.86% of the company) valued at $4.28 million.
• Other institutions moved into or expanded positions—Blue Owl increased its stake to 4,862,361 shares and several firms established new holdings—leaving institutional ownership at about 39.70%.
• Holley shares trade around $3.37 with a market cap of $406.96M; the company missed Q4 EPS estimates ($0.04 vs. $0.09) but beat revenue expectations, and analysts show a consensus of Moderate Buy with a $5.00 target.

Skylands Capital LLC decreased its position in Holley Inc. (NYSE:HLLY - Free Report) by 23.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,035,800 shares of the company's stock after selling 313,650 shares during the period. Skylands Capital LLC owned about 0.86% of Holley worth $4,278,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Blue Owl Capital Holdings LP grew its stake in Holley by 18.2% in the 3rd quarter. Blue Owl Capital Holdings LP now owns 4,862,361 shares of the company's stock valued at $15,268,000 after acquiring an additional 750,000 shares during the last quarter. Roubaix Capital LLC acquired a new position in Holley during the third quarter worth about $2,431,000. Monashee Investment Management LLC purchased a new stake in shares of Holley in the third quarter valued at about $1,099,000. Advisory Research Inc. purchased a new stake in shares of Holley in the third quarter valued at about $7,065,000. Finally, Intrinsic Edge Capital Management LLC acquired a new stake in shares of Holley in the third quarter valued at approximately $567,000. Hedge funds and other institutional investors own 39.70% of the company's stock.

Holley Stock Performance

Shares of NYSE HLLY opened at $3.37 on Tuesday. The company has a 50-day simple moving average of $3.37 and a 200-day simple moving average of $3.67. The company has a debt-to-equity ratio of 1.15, a current ratio of 2.75 and a quick ratio of 0.96. The company has a market cap of $406.96 million, a PE ratio of 22.43 and a beta of 1.42. Holley Inc. has a 12 month low of $1.60 and a 12 month high of $4.48.

Holley (NYSE:HLLY - Get Free Report) last announced its quarterly earnings data on Wednesday, March 4th. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.05). Holley had a net margin of 3.13% and a return on equity of 4.84%. The firm had revenue of $155.44 million for the quarter, compared to analysts' expectations of $142.76 million. On average, equities analysts anticipate that Holley Inc. will post 0.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Holley Profile

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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