Skylands Capital LLC Grows Stake in Holley Inc. (NYSE:HLLY)

Skylands Capital LLC lifted its stake in Holley Inc. (NYSE:HLLY) by 7.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 589,400 shares of the company’s stock after buying an additional 39,600 shares during the period. Skylands Capital LLC’s holdings in Holley were worth $2,870,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Holley during the 3rd quarter worth $61,000. Arizona State Retirement System purchased a new stake in shares of Holley during the third quarter worth about $67,000. Precision Wealth Strategies LLC lifted its stake in shares of Holley by 48.3% in the third quarter. Precision Wealth Strategies LLC now owns 14,835 shares of the company’s stock worth $74,000 after acquiring an additional 4,832 shares in the last quarter. SG Americas Securities LLC purchased a new position in Holley in the third quarter valued at about $81,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in Holley during the 3rd quarter valued at approximately $85,000. Institutional investors and hedge funds own 39.70% of the company’s stock.

Insider Buying and Selling at Holley

In other news, Director Graham Clempson acquired 59,076 shares of the business’s stock in a transaction dated Thursday, March 14th. The stock was acquired at an average price of $4.18 per share, for a total transaction of $246,937.68. Following the completion of the acquisition, the director now directly owns 63,851 shares in the company, valued at approximately $266,897.18. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. 2.20% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

HLLY has been the subject of several research analyst reports. Canaccord Genuity Group reduced their target price on Holley from $9.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, February 29th. Telsey Advisory Group reissued an “outperform” rating and set a $9.00 price objective on shares of Holley in a report on Thursday, February 29th. JPMorgan Chase & Co. downgraded shares of Holley from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $6.50 to $5.00 in a research report on Tuesday, February 20th. Truist Financial reduced their price target on shares of Holley from $9.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, February 29th. Finally, Benchmark reaffirmed a “buy” rating and issued a $12.00 target price on shares of Holley in a research report on Thursday, March 28th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $7.75.

Holley Stock Performance

Shares of HLLY traded up $0.05 during trading hours on Monday, reaching $4.05. 230,813 shares of the company’s stock traded hands, compared to its average volume of 290,833. Holley Inc. has a twelve month low of $2.08 and a twelve month high of $8.06. The business’s fifty day simple moving average is $4.31 and its two-hundred day simple moving average is $4.45. The company has a debt-to-equity ratio of 1.31, a current ratio of 3.17 and a quick ratio of 1.12. The firm has a market capitalization of $481.14 million, a price-to-earnings ratio of 23.53 and a beta of 1.52.

Holley (NYSE:HLLY) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.01 EPS for the quarter, hitting analysts’ consensus estimates of $0.01. The company had revenue of $155.70 million for the quarter, compared to the consensus estimate of $153.26 million. Holley had a net margin of 2.91% and a return on equity of 5.77%. Holley’s revenue was up 1.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.19) EPS. Analysts predict that Holley Inc. will post 0.33 earnings per share for the current year.

Holley Company Profile

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.