Mink Brook Asset Management LLC Acquires New Holdings in Holley Inc. (NYSE:HLLY)

Mink Brook Asset Management LLC acquired a new stake in shares of Holley Inc. (NYSE:HLLY) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 551,738 shares of the company’s stock, valued at approximately $1,666,000. Holley makes up 1.6% of Mink Brook Asset Management LLC’s portfolio, making the stock its 14th biggest holding.

Several other institutional investors also recently bought and sold shares of the business. BNP Paribas Financial Markets purchased a new position in Holley in the fourth quarter worth $26,000. Atria Wealth Solutions Inc. acquired a new stake in shares of Holley during the fourth quarter worth $30,000. Catalyst Funds Management Pty Ltd acquired a new stake in shares of Holley during the fourth quarter worth $31,000. Cottonwood Capital Advisors LLC acquired a new stake in shares of Holley during the fourth quarter worth $32,000. Finally, Williams & Novak LLC acquired a new stake in shares of Holley during the fourth quarter worth $44,000. 39.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HLLY has been the subject of several research reports. Benchmark downgraded shares of Holley from a “buy” rating to a “hold” rating and set a $5.00 price objective for the company. in a research note on Friday. Canaccord Genuity Group lowered their price objective on shares of Holley from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Thursday, May 8th. Truist Financial decreased their target price on shares of Holley from $5.00 to $3.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Telsey Advisory Group decreased their target price on shares of Holley from $4.50 to $2.75 and set an “outperform” rating for the company in a research report on Thursday, May 8th. Finally, Raymond James boosted their target price on shares of Holley from $3.00 to $3.50 and gave the company an “outperform” rating in a research report on Wednesday, March 12th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $3.85.

Holley Stock Performance

NYSE:HLLY opened at $2.22 on Tuesday. The company has a debt-to-equity ratio of 1.20, a current ratio of 2.93 and a quick ratio of 1.17. The firm has a market capitalization of $265.71 million, a price-to-earnings ratio of 17.04 and a beta of 1.43. The company’s 50-day moving average is $2.32 and its two-hundred day moving average is $2.67. Holley Inc. has a 1-year low of $1.60 and a 1-year high of $4.08.

Holley (NYSE:HLLY) last posted its earnings results on Wednesday, May 14th. The company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.03). The firm had revenue of $153.04 million during the quarter, compared to analyst estimates of $148.52 million. Holley had a net margin of 2.55% and a return on equity of 2.59%. Analysts forecast that Holley Inc. will post 0.12 EPS 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.