Holley Inc. $HLLY Shares Acquired by Penn Capital Management Company LLC

Penn Capital Management Company LLC grew its stake in shares of Holley Inc. (NYSE:HLLY) by 134.4% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 577,427 shares of the company’s stock after acquiring an additional 331,067 shares during the period. Penn Capital Management Company LLC’s holdings in Holley were worth $1,363,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. BlackRock Inc. bought a new position in Holley in the second quarter worth approximately $14,361,000. Blue Owl Capital Holdings LP bought a new stake in Holley during the 2nd quarter valued at $11,161,000. Bamco Inc. NY bought a new stake in Holley during the 2nd quarter valued at $8,288,000. Bank of America Corp DE purchased a new stake in shares of Holley in the 2nd quarter worth $4,638,000. Finally, Wasatch Advisors LP lifted its holdings in shares of Holley by 35.1% in the 2nd quarter. Wasatch Advisors LP now owns 4,887,038 shares of the company’s stock worth $12,462,000 after buying an additional 1,269,256 shares during the period. Hedge funds and other institutional investors own 39.70% of the company’s stock.

Holley Stock Performance

HLLY stock opened at $2.62 on Tuesday. Holley Inc. has a one year low of $2.05 and a one year high of $4.48. The firm has a market cap of $317.02 million, a price-to-earnings ratio of 17.43 and a beta of 1.44. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.39 and a current ratio of 3.06. The firm has a 50-day simple moving average of $2.58 and a two-hundred day simple moving average of $2.97.

Holley (NYSE:HLLY) last issued its quarterly earnings data on Thursday, November 5th. The company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). The firm had revenue of $141.56 million during the quarter, compared to analysts’ expectations of $145.80 million. Holley had a return on equity of 8.41% and a net margin of 1.68%. On average, equities analysts forecast that Holley Inc. will post 0.39 EPS for the current fiscal year.

Analyst Ratings Changes

HLLY has been the topic of a number of recent research reports. Canaccord Genuity Group dropped their price target on Holley from $7.00 to $5.00 and set a “buy” rating on the stock in a research report on Friday. Weiss Ratings restated a “sell (d)” rating on shares of Holley in a report on Tuesday, November 3rd. Freedom Capital lowered shares of Holley from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 13th. Telsey Advisory Group lowered their price objective on shares of Holley from $5.00 to $4.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Zacks Research cut shares of Holley from a “strong-buy” rating to a “hold” rating in a report on Monday, October 5th. Three investment 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 has a consensus rating of “Hold” and an average price target of $4.00.

Holley 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.