Insider Buying: Holley (NYSE:HLLY) CFO Buys $22,770.00 in Stock

Holley Inc. (NYSE:HLLY) CFO Jesse Weaver purchased 9,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 10th. The stock was acquired at an average price of $2.53 per share, with a total value of $22,770.00. Following the completion of the purchase, the chief financial officer owned 670,695 shares in the company, valued at $1,696,858.35. This represents a 1.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Holley Stock Down 5.8%

NYSE HLLY traded down $0.14 during trading hours on Thursday, reaching $2.37. 631,002 shares of the company’s stock traded hands, compared to its average volume of 961,244. Holley Inc. has a 52-week low of $2.05 and a 52-week high of $4.48. The firm has a market cap of $286.72 million, a PE ratio of 15.77 and a beta of 1.44. The firm has a 50-day simple moving average of $2.57 and a 200 day simple moving average of $2.95. The company has a debt-to-equity ratio of 1.07, a current ratio of 3.04 and a quick ratio of 1.23.

Holley (NYSE:HLLY) last announced its quarterly earnings data 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). The business had revenue of $141.56 million during the quarter, compared to analysts’ expectations of $145.80 million. Holley had a return on equity of 9.28% and a net margin of 3.07%. Sell-side analysts anticipate that Holley Inc. will post 0.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

HLLY has been the topic of a number of analyst reports. Telsey Advisory Group dropped their price target on Holley from $5.00 to $4.00 and set an “outperform” rating on the stock in a research report on Friday, November 6th. DA Davidson set a $3.00 price objective on Holley in a research report on Friday, November 6th. Wall Street Zen cut Holley from a “buy” rating to a “hold” rating in a research note on Saturday, November 7th. Freedom Broker upgraded Holley from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. Finally, Zacks Research downgraded Holley from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $4.00.

Institutional Investors Weigh In On Holley

Institutional investors have recently made changes to their positions in the company. Williams & Novak Wealth Management LLC purchased a new stake in shares of Holley during the third quarter valued at approximately $25,000. Chicago Partners Investment Group LLC purchased a new position in Holley in the 1st quarter worth approximately $35,000. The Manufacturers Life Insurance Company purchased a new position in Holley in the 2nd quarter worth approximately $52,000. Ritholtz Wealth Management bought a new position in Holley in the 3rd quarter valued at approximately $96,000. Finally, GSA Capital Partners LLP bought a new position in Holley in the 2nd quarter valued at approximately $98,000. Hedge funds and other institutional investors own 39.70% of the company’s stock.

About Holley

Holley Inc. designs, manufactures and markets performance parts and accessories for the automotive aftermarket. Its products serve enthusiasts and racers who modify, restore or compete with vehicles, including classic cars and modern performance vehicles. The company’s offerings include fuel and electronic fuel-injection systems, carburetors, ignition and engine components, intake and exhaust products, transmission and chassis parts, and automotive safety equipment. Its portfolio includes brands such as Holley, MSD, Flowmaster, Hooker, B&M and Simpson.