Holley (NYSE:HLLY) Stock: Insider Jesse Weaver Buys 9,000 Shares

Key Points

• CFO Jesse Weaver bought 9,000 Holley shares at an average price of $2.53, spending $22,770 and increasing his holdings by 1.36% to 670,695 shares.
• Holley shares fell 5.8% to $2.37 in Thursday trading. Its latest quarter missed analyst expectations for both EPS ($0.06 versus $0.07) and revenue ($141.56 million versus $145.80 million).
• Analyst views were mixed, though MarketBeat reported a “Moderate Buy” consensus and an average $4 price target; several brokerages had recently cut their targets.

Holley Inc. (NYSE:HLLY - Get Free Report) CFO Jesse Weaver acquired 9,000 shares of the stock in a transaction dated Tuesday, November 10th. The shares were purchased at an average cost of $2.53 per share, with a total value of $22,770.00. Following the completion of the purchase, the chief financial officer owned 670,695 shares of the company's stock, valued at approximately $1,696,858.35. The trade was a 1.36% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Holley Trading Down 5.8%

Shares of Holley stock traded down $0.14 during trading on Thursday, reaching $2.37. 631,002 shares of the stock were exchanged, compared to its average volume of 961,244. The company has a quick ratio of 1.23, a current ratio of 3.04 and a debt-to-equity ratio of 1.07. The stock's fifty day moving average is $2.57 and its 200 day moving average is $2.95. The firm has a market cap of $286.72 million, a price-to-earnings ratio of 15.77 and a beta of 1.44. Holley Inc. has a 1 year low of $2.05 and a 1 year high of $4.48.

Holley (NYSE:HLLY - Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.01). The business had revenue of $141.56 million for the quarter, compared to analysts' expectations of $145.80 million. Holley had a net margin of 3.07% and a return on equity of 9.28%. As a group, equities research analysts expect that Holley Inc. will post 0.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on HLLY. Zacks Research downgraded Holley from a "strong-buy" rating to a "hold" rating in a report on Monday, October 5th. Telsey Advisory Group cut their price target on shares of Holley from $5.00 to $4.00 and set an "outperform" rating on the stock in a report on Friday, November 6th. Wall Street Zen downgraded shares of Holley from a "buy" rating to a "hold" rating in a research report on Saturday, November 7th. Freedom Broker upgraded shares of Holley from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Finally, Canaccord Genuity Group dropped their target price on shares of Holley from $7.00 to $5.00 and set a "buy" rating for the company in a research report on Friday, November 6th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, Holley currently has an average rating of "Moderate Buy" and an average target price of $4.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE purchased a new position in shares of Holley in the 2nd quarter valued at approximately $4,638,000. BlackRock Inc. bought a new stake in shares of Holley during the second quarter valued at approximately $14,361,000. Blue Owl Capital Holdings LP purchased a new stake in Holley in the second quarter worth $11,161,000. Dimensional Fund Advisors LP grew its stake in Holley by 25.4% in the first quarter. Dimensional Fund Advisors LP now owns 2,447,266 shares of the company's stock worth $7,512,000 after purchasing an additional 495,923 shares during the period. Finally, Empowered Funds LLC purchased a new stake in Holley in the second quarter worth $1,499,000. Hedge funds and other institutional investors own 39.70% of the company's stock.

About Holley

Holley Inc. designs, manufactures and markets performance parts and accessories for the automotive aftermarket. Its products serve enthusiasts and racers who modify, restore or compete with vehicles, including classic cars and modern performance vehicles. The company's offerings include fuel and electronic fuel-injection systems, carburetors, ignition and engine components, intake and exhaust products, transmission and chassis parts, and automotive safety equipment. Its portfolio includes brands such as Holley, MSD, Flowmaster, Hooker, B&M and Simpson.

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