Goldman Sachs Group Inc. Lowers Stock Holdings in Holley Inc. $HLLY

Goldman Sachs Group Inc. lowered its position in shares of Holley Inc. (NYSE:HLLY) by 73.0% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 119,622 shares of the company’s stock after selling 323,629 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Holley were worth $307,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HLLY. BNP Paribas Financial Markets acquired a new position in shares of Holley during the 4th quarter worth approximately $26,000. ProShare Advisors LLC purchased a new position in shares of Holley in the fourth quarter worth approximately $40,000. Nisa Investment Advisors LLC increased its position in Holley by 994.4% in the first quarter. Nisa Investment Advisors LLC now owns 16,536 shares of the company’s stock worth $42,000 after purchasing an additional 15,025 shares during the last quarter. KPP Advisory Services LLC purchased a new stake in shares of Holley during the first quarter valued at about $99,000. Finally, Kovitz Investment Group Partners LLC purchased a new position in shares of Holley during the 1st quarter valued at approximately $123,000. Institutional investors own 39.70% of the company’s stock.

Insider Activity at Holley

In other news, Director David S. Lobel sold 2,100,000 shares of the company’s stock in a transaction dated Thursday, September 18th. The stock was sold at an average price of $2.63, for a total value of $5,523,000.00. Following the completion of the sale, the director directly owned 24,654,834 shares of the company’s stock, valued at $64,842,213.42. This represents a 7.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.92% of the company’s stock.

Holley Stock Up 1.7%

Shares of NYSE:HLLY opened at $3.26 on Friday. Holley Inc. has a 12 month low of $1.60 and a 12 month high of $4.09. The company has a 50-day moving average price of $3.20 and a 200 day moving average price of $2.54. The company has a current ratio of 2.93, a quick ratio of 1.18 and a debt-to-equity ratio of 1.24. The company has a market cap of $392.23 million, a price-to-earnings ratio of -12.52 and a beta of 1.42.

Holley (NYSE:HLLY) last released its earnings results on Wednesday, August 6th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The business had revenue of $166.66 million for the quarter, compared to analyst estimates of $162.67 million. Holley had a positive return on equity of 5.81% and a negative net margin of 5.12%. As a group, equities research analysts predict that Holley Inc. will post 0.12 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on HLLY. Telsey Advisory Group restated an “outperform” rating and issued a $2.75 price target on shares of Holley in a research report on Thursday, July 31st. Wall Street Zen upgraded shares of Holley from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Benchmark raised shares of Holley from a “hold” rating to a “buy” rating and set a $4.00 target price for the company in a research note on Friday, August 8th. Raymond James Financial raised their price objective on shares of Holley from $2.25 to $3.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. Finally, Canaccord Genuity Group lifted their price objective on shares of Holley from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Five equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Holley has an average rating of “Buy” and a consensus target price of $3.75.

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.