Intrinsic Edge Capital Management LLC Acquires New Shares in Holley Inc. $HLLY

Intrinsic Edge Capital Management LLC purchased a new position in shares of Holley Inc. (NYSE:HLLY) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 180,594 shares of the company’s stock, valued at approximately $567,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of HLLY. Cerity Partners LLC acquired a new stake in shares of Holley in the second quarter valued at about $25,000. Captrust Financial Advisors bought a new position in Holley in the second quarter worth $44,000. Brevan Howard Capital Management LP lifted its holdings in shares of Holley by 103.4% during the 2nd quarter. Brevan Howard Capital Management LP now owns 22,607 shares of the company’s stock worth $45,000 after acquiring an additional 11,494 shares during the period. Los Angeles Capital Management LLC acquired a new position in Holley in the second quarter worth about $47,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Holley by 16.7% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,542 shares of the company’s stock worth $65,000 after purchasing an additional 4,661 shares during the period. 39.70% of the stock is currently owned by institutional investors and hedge funds.

Holley Trading Down 1.7%

Shares of HLLY opened at $3.95 on Wednesday. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.06 and a current ratio of 2.78. The company has a market cap of $476.01 million, a price-to-earnings ratio of -17.95 and a beta of 1.32. The stock has a fifty day moving average price of $4.14 and a two-hundred day moving average price of $3.76. Holley Inc. has a 52-week low of $1.60 and a 52-week high of $4.48.

Analysts Set New Price Targets

HLLY has been the topic of several analyst reports. Canaccord Genuity Group upped their price objective on Holley from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Wednesday, February 18th. DA Davidson upped their price target on Holley from $3.00 to $4.50 and gave the company a “neutral” rating in a research report on Monday, November 10th. Telsey Advisory Group reiterated an “outperform” rating and set a $5.00 price objective on shares of Holley in a research note on Tuesday, February 24th. Weiss Ratings restated a “sell (d)” rating on shares of Holley in a research note on Thursday, January 22nd. Finally, Benchmark upped their target price on shares of Holley from $4.00 to $4.50 and gave the stock a “buy” rating in a report on Monday, November 10th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Holley currently has an average rating of “Moderate Buy” and a consensus price target of $4.67.

Holley Profile

Holley Inc is a designer, manufacturer and marketer of high‐performance automotive products for the enthusiast market. Through its portfolio of well‐known brands, the company develops fuel delivery systems, intake manifolds, ignition components, nitrous oxide systems, digital controls and other engine‐dress accessories tailored to both street and competition applications. Holley’s products are sold through a network of domestic and international distributors, retailers and directly to professional race teams and hobbyists.

The company’s product offerings span mechanical and electronic fuel injection, carburetion, engine management, add‐on power systems and calibration tools.