Penn Capital Management Company LLC Purchases Shares of 246,360 Holley Inc. $HLLY

Penn Capital Management Company LLC purchased a new position in Holley Inc. (NYSE:HLLY) during the second quarter, HoldingsChannel.com reports. The fund purchased 246,360 shares of the company’s stock, valued at approximately $628,000.

Other hedge funds have also recently modified their holdings of the company. Chicago Partners Investment Group LLC purchased a new stake in shares of Holley during the first quarter worth about $35,000. Schonfeld Strategic Advisors LLC purchased a new position in Holley during the 3rd quarter valued at about $34,000. Sherbrooke Park Advisers LLC bought a new position in Holley during the 3rd quarter valued at approximately $38,000. Cerity Partners LLC bought a new position in Holley during the 2nd quarter valued at approximately $25,000. Finally, ProShare Advisors LLC lifted its holdings in Holley by 37.1% in the 4th quarter. ProShare Advisors LLC now owns 13,961 shares of the company’s stock worth $58,000 after buying an additional 3,777 shares during the period. Hedge funds and other institutional investors own 39.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on HLLY shares. Zacks Research raised Holley from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $7.00 price target on shares of Holley in a research note on Monday, June 29th. Freedom Capital downgraded shares of Holley from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 13th. Wall Street Zen raised shares of Holley from a “hold” rating to a “buy” rating in a research report on Saturday, August 8th. Finally, Weiss Ratings lowered shares of Holley from a “sell (d+)” rating to a “sell (d)” rating in a report on Thursday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.90.

Holley Stock Down 1.7%

HLLY stock opened at $2.92 on Friday. Holley Inc. has a fifty-two week low of $2.33 and a fifty-two week high of $4.48. The business’s 50 day moving average price is $2.74 and its two-hundred day moving average price is $3.01. 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 company has a market capitalization of $353.99 million, a price-to-earnings ratio of 36.50 and a beta of 1.31.

Holley (NYSE:HLLY) last announced its earnings results on Wednesday, August 5th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.08. The firm had revenue of $172.01 million during the quarter, compared to analyst estimates of $172.63 million. Holley had a return on equity of 8.41% and a net margin of 1.68%. As a group, analysts forecast that Holley Inc. will post 0.39 earnings per share for the current fiscal year.

Holley announced that its board has authorized a share buyback program on Tuesday, May 26th that allows the company to repurchase $25.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 8.2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Holley Company Profile

Holley Inc is a designer, manufacturer and marketer of high?performance automotive products for the enthusiast market. Through its portfolio of well?known brands, the company develops fuel delivery systems, intake manifolds, ignition components, nitrous oxide systems, digital controls and other engine?dress accessories tailored to both street and competition applications. Holley’s products are sold through a network of domestic and international distributors, retailers and directly to professional race teams and hobbyists.

The company’s product offerings span mechanical and electronic fuel injection, carburetion, engine management, add?on power systems and calibration tools.