Renaissance Technologies LLC Decreases Position in Holley Inc. (NYSE:HLLY)

Renaissance Technologies LLC cut its holdings in Holley Inc. (NYSE:HLLY - Free Report) by 29.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 321,435 shares of the company's stock after selling 133,222 shares during the quarter. Renaissance Technologies LLC owned approximately 0.27% of Holley worth $971,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Barclays PLC boosted its holdings in shares of Holley by 288.3% during the 3rd quarter. Barclays PLC now owns 75,795 shares of the company's stock valued at $224,000 after acquiring an additional 56,277 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Holley by 5.1% during the third quarter. Geode Capital Management LLC now owns 1,137,811 shares of the company's stock worth $3,357,000 after purchasing an additional 55,641 shares during the last quarter. Virtu Financial LLC acquired a new position in shares of Holley in the third quarter valued at approximately $54,000. JPMorgan Chase & Co. increased its stake in shares of Holley by 102.1% in the third quarter. JPMorgan Chase & Co. now owns 143,760 shares of the company's stock valued at $424,000 after buying an additional 72,641 shares during the period. Finally, SG Americas Securities LLC increased its position in Holley by 39.8% in the 4th quarter. SG Americas Securities LLC now owns 24,590 shares of the company's stock valued at $74,000 after acquiring an additional 7,002 shares during the period. Institutional investors and hedge funds own 39.70% of the company's stock.

Holley Trading Down 5.0 %

Shares of Holley stock traded down $0.11 on Tuesday, reaching $2.07. 459,771 shares of the company's stock were exchanged, compared to its average volume of 425,810. The company has a market capitalization of $248.32 million, a P/E ratio of 15.92 and a beta of 1.43. Holley Inc. has a 52 week low of $1.93 and a 52 week high of $4.18. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.17 and a current ratio of 2.93. The firm's 50-day moving average is $2.37 and its two-hundred day moving average is $2.70.

Holley (NYSE:HLLY - Get Free Report) last posted its quarterly earnings results on Tuesday, March 11th. The company reported $0.11 EPS for the quarter, topping analysts' consensus estimates of $0.02 by $0.09. The business had revenue of $140.05 million during the quarter, compared to analysts' expectations of $137.60 million. Holley had a net margin of 2.55% and a return on equity of 2.59%. The business's quarterly revenue was down 10.1% on a year-over-year basis. During the same period last year, the company posted $0.01 earnings per share. Sell-side analysts predict that Holley Inc. will post 0.12 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on HLLY shares. Telsey Advisory Group reissued an "outperform" rating and issued a $4.50 price objective on shares of Holley in a research note on Wednesday, April 30th. Raymond James increased their price target on Holley from $3.00 to $3.50 and gave the company an "outperform" rating in a research note on Wednesday, March 12th. Finally, Truist Financial cut their price objective on Holley from $5.00 to $3.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $6.00.

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.