Holley (NYSE:HLLY) CFO Jesse Weaver Acquires 9,000 Shares of Company Stock

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

Holley Stock Performance

Shares of HLLY opened at $2.37 on Friday. The stock has a 50 day moving average price of $2.56 and a 200 day moving average price of $2.94. The company has a quick ratio of 1.23, a current ratio of 3.04 and a debt-to-equity ratio of 1.07. The company has a market capitalization of $286.71 million, a price-to-earnings ratio of 15.77 and a beta of 1.44. Holley Inc. has a 52-week low of $2.05 and a 52-week high of $4.48.

Holley (NYSE:HLLY) last released 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 company had revenue of $141.56 million for the quarter, compared to analyst estimates of $145.80 million. Holley had a return on equity of 9.28% and a net margin of 3.07%. Research analysts predict that Holley Inc. will post 0.37 EPS for the current fiscal year.

Institutional Trading of Holley

Several institutional investors and hedge funds have recently bought and sold shares of the business. Russell Investments Group Ltd. boosted its stake in Holley by 38.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 2,203,493 shares of the company’s stock worth $5,200,000 after purchasing an additional 617,178 shares during the period. Ritholtz Wealth Management acquired a new position in Holley in the third quarter valued at $96,000. Penn Capital Management Company LLC increased its stake in Holley by 134.4% in the third quarter. Penn Capital Management Company LLC now owns 577,427 shares of the company’s stock valued at $1,363,000 after purchasing an additional 331,067 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Holley by 2.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 10,066,406 shares of the company’s stock valued at $23,958,000 after purchasing an additional 258,955 shares during the period. Finally, Skylands Capital LLC raised its holdings in shares of Holley by 2.1% in the third quarter. Skylands Capital LLC now owns 1,092,212 shares of the company’s stock valued at $2,578,000 after buying an additional 22,383 shares during the last quarter. Hedge funds and other institutional investors own 39.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on HLLY shares. Wall Street Zen lowered shares of Holley from a “buy” rating to a “hold” rating in a research note on Saturday, November 7th. Freedom Broker upgraded shares of Holley from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. DA Davidson set a $3.00 price objective on Holley in a report on Friday, November 6th. Canaccord Genuity Group cut their target price on Holley from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday, November 6th. Finally, Freedom Capital downgraded Holley from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 13th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Holley presently has an average rating of “Moderate Buy” and a consensus target price of $4.00.

Holley Company Profile

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.