Holley Inc. $HLLY Position Boosted by Penn Capital Management Company LLC

Penn Capital Management Company LLC grew its position in Holley Inc. (NYSE:HLLY) by 134.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 577,427 shares of the company’s stock after acquiring an additional 331,067 shares during the quarter. Penn Capital Management Company LLC owned 0.48% of Holley worth $1,363,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Chicago Partners Investment Group LLC purchased a new position in shares of Holley in the first quarter valued at $35,000. Williams & Novak Wealth Management LLC purchased a new stake in shares of Holley during the 3rd quarter valued at about $25,000. The Manufacturers Life Insurance Company purchased a new stake in shares of Holley during the 2nd quarter valued at about $52,000. GSA Capital Partners LLP bought a new position in shares of Holley in the 2nd quarter valued at about $98,000. Finally, Canada Pension Plan Investment Board bought a new position in shares of Holley in the 2nd quarter valued at about $178,000. 39.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on HLLY. Wall Street Zen lowered Holley from a “buy” rating to a “hold” rating in a research report on Saturday. Telsey Advisory Group decreased their price objective on Holley from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Friday. Zacks Research downgraded Holley from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 5th. Freedom Capital lowered Holley from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Finally, Canaccord Genuity Group dropped their target price on Holley from $7.00 to $5.00 and set a “buy” rating for the company in a report on Friday. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Holley presently has a consensus rating of “Hold” and an average target price of $4.00.

Holley Price Performance

HLLY opened at $2.62 on Tuesday. The business has a fifty day moving average of $2.58 and a 200 day moving average of $2.97. Holley Inc. has a 52-week low of $2.05 and a 52-week high of $4.48. The company has a quick ratio of 1.39, a current ratio of 3.06 and a debt-to-equity ratio of 1.15. The stock has a market cap of $317.02 million, a P/E ratio of 17.43 and a beta of 1.44.

Holley (NYSE:HLLY) last released its earnings results on Thursday, November 5th. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Holley had a return on equity of 8.41% and a net margin of 1.68%. The business had revenue of $141.56 million during the quarter, compared to analysts’ expectations of $145.80 million. As a group, sell-side analysts anticipate that Holley Inc. will post 0.39 EPS for the current year.

Holley Company Profile

Holley Inc is an automotive aftermarket company that designs, manufactures and distributes performance products for cars, trucks, powersports vehicles and other enthusiast applications. Its offerings include fuel systems, engine and ignition components, exhaust products, suspension and driveline components, electronic controls, vehicle accessories and safety equipment.

The company serves do-it-yourself consumers, professional installers, racing teams, automotive enthusiasts and original equipment manufacturers through a portfolio of established aftermarket brands.