Invenomic Capital Management LP Makes New $782,000 Investment in Holley Inc. (NYSE:HLLY)

Invenomic Capital Management LP bought a new position in Holley Inc. (NYSE:HLLY – Get Rating) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 60,243 shares of the company’s stock, valued at approximately $782,000. Invenomic Capital Management LP owned approximately 0.05% of Holley at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Morgan Stanley purchased a new stake in shares of Holley during the third quarter valued at approximately $91,000. JPMorgan Chase & Co. purchased a new stake in shares of Holley during the fourth quarter valued at approximately $126,000. Arizona State Retirement System purchased a new stake in shares of Holley during the fourth quarter valued at approximately $144,000. Penserra Capital Management LLC bought a new position in shares of Holley during the third quarter valued at approximately $147,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Holley during the fourth quarter valued at approximately $165,000. 81.35% of the stock is owned by institutional investors and hedge funds.

HLLY has been the subject of a number of recent analyst reports. Telsey Advisory Group upped their target price on Holley from $15.00 to $16.00 and gave the company an “outperform” rating in a report on Friday, March 4th. Zacks Investment Research downgraded Holley from a “buy” rating to a “hold” rating in a report on Tuesday, March 8th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $14.88.

HLLY traded down $0.01 during trading on Friday, reaching $9.76. The stock had a trading volume of 289,408 shares, compared to its average volume of 632,461. The stock’s 50 day moving average is $12.19 and its two-hundred day moving average is $12.41. The company has a debt-to-equity ratio of 1.87, a current ratio of 3.25 and a quick ratio of 1.27. Holley Inc. has a one year low of $8.23 and a one year high of $14.68.

Holley (NYSE:HLLY – Get Rating) last posted its quarterly earnings data on Thursday, May 12th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.04. The firm had revenue of $200.06 million during the quarter, compared to the consensus estimate of $192.70 million. The company’s revenue for the quarter was up 24.8% compared to the same quarter last year. Research analysts predict that Holley Inc. will post 0.78 earnings per share for the current fiscal year.

In related news, Director David S. Lobel sold 2,000,000 shares of the stock in a transaction on Tuesday, March 22nd. The stock was sold at an average price of $13.00, for a total transaction of $26,000,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director David S. Lobel sold 8,000,000 shares of the stock in a transaction on Monday, April 25th. The shares were sold at an average price of $11.43, for a total value of $91,440,000.00. Following the sale, the director now directly owns 54,673,884 shares in the company, valued at $624,922,494.12. The disclosure for this sale can be found here.

About Holley (Get Rating)

Holley Inc designs, manufactures, and markets automotive aftermarket products for car and truck enthusiasts in the United States, Canada, Europe, and China. The company's 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.

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