Neuberger Berman Group LLC Has $223,000 Stock Position in Holley Inc. $HLLY

Neuberger Berman Group LLC reduced its holdings in shares of Holley Inc. (NYSE:HLLY) by 10.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 111,458 shares of the company’s stock after selling 12,342 shares during the period. Neuberger Berman Group LLC’s holdings in Holley were worth $223,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in HLLY. Boston Partners lifted its position in shares of Holley by 84.8% in the second quarter. Boston Partners now owns 4,807,536 shares of the company’s stock worth $9,615,000 after purchasing an additional 2,206,737 shares in the last quarter. Franklin Resources Inc. increased its stake in Holley by 145.6% in the 2nd quarter. Franklin Resources Inc. now owns 1,248,020 shares of the company’s stock valued at $2,496,000 after buying an additional 739,912 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Holley by 2.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 10,613,820 shares of the company’s stock valued at $22,289,000 after buying an additional 275,838 shares during the last quarter. Nuveen LLC bought a new stake in Holley during the 1st quarter worth about $515,000. Finally, Russell Investments Group Ltd. boosted its stake in shares of Holley by 16.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 1,072,720 shares of the company’s stock worth $2,145,000 after buying an additional 151,784 shares during the last quarter. 39.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HLLY has been the topic of a number of recent research reports. DA Davidson lifted their target price on Holley from $3.00 to $4.50 and gave the company a “neutral” rating in a research report on Monday, November 10th. Telsey Advisory Group raised their price target on Holley from $3.50 to $5.00 and gave the company an “outperform” rating in a research note on Friday, November 7th. Wall Street Zen upgraded Holley from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Benchmark raised their target price on shares of Holley from $4.00 to $4.50 and gave the company a “buy” rating in a research note on Monday, November 10th. Finally, Raymond James Financial boosted their target price on shares of Holley from $2.25 to $3.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.50.

Holley Stock Performance

HLLY opened at $4.26 on Friday. Holley Inc. has a 12-month low of $1.60 and a 12-month high of $4.30. The stock has a market cap of $513.37 million, a price-to-earnings ratio of -19.36 and a beta of 1.36. The business has a 50 day moving average of $3.30 and a 200-day moving average of $2.86. The company has a quick ratio of 1.06, a current ratio of 2.78 and a debt-to-equity ratio of 1.20.

Holley (NYSE:HLLY) last posted its earnings results on Friday, November 7th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.01). Holley had a positive return on equity of 6.75% and a negative net margin of 4.16%.The business had revenue of $138.37 million for the quarter, compared to analyst estimates of $132.36 million. Holley has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Holley Inc. will post 0.12 earnings per share for the current year.

Insider Activity at Holley

In other news, Director David S. Lobel sold 14,000,000 shares of the stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $2.63, for a total value of $36,820,000.00. Following the transaction, the director directly owned 26,754,834 shares of the company’s stock, valued at $70,365,213.42. This represents a 34.35% 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. 0.92% of the stock is currently owned by corporate insiders.

Holley 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.