First Eagle Investment Management LLC Raises Holdings in Holley Inc. $HLLY

First Eagle Investment Management LLC lifted its position in Holley Inc. (NYSE:HLLY) by 32.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 475,297 shares of the company’s stock after purchasing an additional 115,851 shares during the quarter. First Eagle Investment Management LLC’s holdings in Holley were worth $951,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Nisa Investment Advisors LLC boosted its stake in Holley by 994.4% during the first quarter. Nisa Investment Advisors LLC now owns 16,536 shares of the company’s stock valued at $42,000 after buying an additional 15,025 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new position in shares of Holley during the 1st quarter valued at approximately $123,000. M&T Bank Corp boosted its position in shares of Holley by 40.0% during the 1st quarter. M&T Bank Corp now owns 56,331 shares of the company’s stock valued at $145,000 after acquiring an additional 16,089 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Holley by 17.6% in the first quarter. American Century Companies Inc. now owns 107,960 shares of the company’s stock valued at $277,000 after purchasing an additional 16,168 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its position in Holley by 28.3% in the first quarter. Neuberger Berman Group LLC now owns 123,800 shares of the company’s stock worth $318,000 after purchasing an additional 27,303 shares during the last quarter. 39.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Raymond James Financial increased their price objective on shares of Holley from $2.25 to $3.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Telsey Advisory Group increased their price target on shares of Holley from $3.50 to $5.00 and gave the company an “outperform” rating in a report on Friday. Weiss Ratings reissued a “sell (d)” rating on shares of Holley in a research note on Wednesday, October 8th. Wall Street Zen raised Holley from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Finally, Canaccord Genuity Group lifted their target price on Holley from $5.00 to $6.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Five analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, Holley presently has an average rating of “Moderate Buy” and a consensus price target of $4.20.

Insider Buying and Selling at Holley

In other news, Director David S. Lobel sold 2,100,000 shares of the business’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $2.63, for a total transaction 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 approximately $64,842,213.42. The trade was a 7.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.92% of the company’s stock.

Holley Stock Up 35.0%

Shares of NYSE:HLLY opened at $3.69 on Monday. The firm has a market capitalization of $444.04 million, a PE ratio of -16.75 and a beta of 1.36. The business has a 50 day simple moving average of $3.17 and a two-hundred day simple moving average of $2.67. Holley Inc. has a 1 year low of $1.60 and a 1 year high of $4.09. The company has a debt-to-equity ratio of 1.24, a current ratio of 2.93 and a quick ratio of 1.18.

Holley (NYSE:HLLY) last issued its quarterly earnings results on Friday, November 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Holley had a positive return on equity of 6.80% and a negative net margin of 4.16%.The business had revenue of $138.37 million for the quarter, compared to the consensus estimate of $132.36 million. Holley has set its FY 2025 guidance at EPS. On average, equities analysts predict that Holley Inc. will post 0.12 EPS for the current year.

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.