Raymond James Financial Inc. Takes $1.06 Million Position in Holley Inc. (NYSE:HLLY)

Raymond James Financial Inc. acquired a new position in Holley Inc. (NYSE:HLLY - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 350,396 shares of the company's stock, valued at approximately $1,058,000. Raymond James Financial Inc. owned about 0.29% of Holley as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of HLLY. Atria Wealth Solutions Inc. purchased a new stake in shares of Holley in the fourth quarter worth about $30,000. Catalyst Funds Management Pty Ltd acquired a new stake in Holley during the fourth quarter valued at $31,000. Cottonwood Capital Advisors LLC purchased a new stake in shares of Holley during the 4th quarter worth about $32,000. Williams & Novak LLC purchased a new position in shares of Holley in the 4th quarter valued at about $44,000. Finally, Janney Montgomery Scott LLC grew its holdings in Holley by 25.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 16,035 shares of the company's stock valued at $48,000 after purchasing an additional 3,210 shares during the period. Institutional investors and hedge funds own 39.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on HLLY. Truist Financial cut their price target on shares of Holley from $5.00 to $3.00 and set a "buy" rating for the company in a report on Monday, April 14th. Telsey Advisory Group reduced their price target on shares of Holley from $4.50 to $2.75 and set an "outperform" rating for the company in a research report on Thursday. Benchmark cut Holley from a "buy" rating to a "hold" rating and set a $5.00 price objective on the stock. in a report on Friday. Canaccord Genuity Group cut their price objective on Holley from $6.00 to $5.00 and set a "buy" rating for the company in a research note on Thursday. Finally, Raymond James raised their target price on Holley from $3.00 to $3.50 and gave the company an "outperform" rating in a research report on Wednesday, March 12th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $3.85.

Holley Price Performance

NYSE HLLY traded down $0.03 during trading hours on Friday, hitting $1.91. 992,340 shares of the company's stock traded hands, compared to its average volume of 433,963. The company has a market capitalization of $228.52 million, a PE ratio of 14.65 and a beta of 1.43. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.93 and a quick ratio of 1.17. Holley Inc. has a 52-week low of $1.60 and a 52-week high of $4.08. The firm's 50-day moving average is $2.32 and its 200-day moving average is $2.68.

Holley (NYSE:HLLY - Get Free Report) last posted its quarterly earnings results on Wednesday, May 14th. The company reported $0.02 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.03). Holley had a net margin of 2.55% and a return on equity of 2.59%. The company had revenue of $153.04 million during the quarter, compared to analysts' expectations of $148.52 million. Equities analysts forecast 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.