Sherbrooke Park Advisers LLC Reduces Position in Holley Inc. (NYSE:HLLY)

Sherbrooke Park Advisers LLC trimmed its holdings in shares of Holley Inc. (NYSE:HLLY) by 57.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 39,127 shares of the company’s stock after selling 51,850 shares during the quarter. Sherbrooke Park Advisers LLC’s holdings in Holley were worth $118,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets purchased a new stake in shares of Holley during the fourth quarter worth about $26,000. Atria Wealth Solutions Inc. purchased a new stake in shares of Holley during the fourth quarter worth about $30,000. Catalyst Funds Management Pty Ltd acquired a new position in Holley during the 4th quarter worth $31,000. Cottonwood Capital Advisors LLC acquired a new position in Holley during the 4th quarter worth $32,000. Finally, ProShare Advisors LLC acquired a new position in Holley during the 4th quarter worth $40,000. 39.70% of the stock is owned by hedge funds and other institutional investors.

Holley Stock Down 6.8%

Shares of Holley stock opened at $2.00 on Thursday. The company has a current ratio of 2.93, a quick ratio of 1.17 and a debt-to-equity ratio of 1.20. The business’s 50 day simple moving average is $2.27 and its 200-day simple moving average is $2.65. The stock has a market capitalization of $239.32 million, a price-to-earnings ratio of 15.35 and a beta of 1.43. Holley Inc. has a twelve month low of $1.60 and a twelve month high of $4.08.

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on HLLY shares. Raymond James raised their price objective on shares of Holley from $3.00 to $3.50 and gave the stock an “outperform” rating in a report on Wednesday, March 12th. Telsey Advisory Group reduced their target price on Holley from $4.50 to $2.75 and set an “outperform” rating on the stock in a report on Thursday, May 8th. Truist Financial reduced 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. Canaccord Genuity Group reduced their price objective on Holley from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, May 8th. Finally, Benchmark cut Holley from a “buy” rating to a “hold” rating and set a $5.00 price objective on the stock. in a research note on Friday, May 9th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $3.85.

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.