Holley (NYSE:HLLY) Sees Strong Trading Volume

Shares of Holley Inc. (NYSE:HLLYGet Rating) saw unusually-high trading volume on Thursday . Approximately 39,079 shares were traded during mid-day trading, a decline of 83% from the previous session’s volume of 230,434 shares.The stock last traded at $12.46 and had previously closed at $12.44.

HLLY has been the subject of a number of research reports. Raymond James raised their price objective on shares of Holley from $14.00 to $14.50 and gave the company an “outperform” rating in a report on Friday, January 14th. Telsey Advisory Group increased their target price on shares of Holley from $15.00 to $16.00 and gave the company an “outperform” rating in a research report on Friday, March 4th. Finally, Zacks Investment Research downgraded shares of Holley from a “buy” rating to a “hold” rating in a research report on Tuesday, March 8th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $14.88.

The business’s 50-day simple moving average is $13.32 and its two-hundred day simple moving average is $12.56. The company has a current ratio of 3.18, a quick ratio of 1.16 and a debt-to-equity ratio of 2.09.

Holley (NYSE:HLLYGet Rating) last released its earnings results on Thursday, March 3rd. The company reported $0.08 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.02). The business had revenue of $179.80 million for the quarter, compared to analyst estimates of $148.59 million. Holley’s quarterly revenue was up 29.9% on a year-over-year basis. Equities research analysts forecast that Holley Inc. will post 0.81 earnings per share for the current fiscal year.

In related news, Director David S. Lobel sold 2,000,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 22nd. The stock was sold at an average price of $13.00, for a total transaction of $26,000,000.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David S. Lobel sold 3,000,000 shares of the company’s stock in a transaction that occurred on Friday, February 11th. The stock was sold at an average price of $11.20, for a total value of $33,600,000.00. The disclosure for this sale can be found here.

A number of hedge funds have recently bought and sold shares of HLLY. Wasatch Advisors Inc. acquired a new position in Holley during the 3rd quarter worth approximately $130,547,000. Bamco Inc. NY acquired a new position in Holley during the 3rd quarter worth approximately $51,781,000. Allspring Global Investments Holdings LLC acquired a new position in Holley during the 4th quarter worth approximately $29,392,000. Polar Asset Management Partners Inc. acquired a new position in Holley during the 3rd quarter worth approximately $19,093,000. Finally, P2 Capital Partners LLC raised its stake in Holley by 192.6% during the 4th quarter. P2 Capital Partners LLC now owns 1,632,639 shares of the company’s stock worth $21,208,000 after buying an additional 1,074,650 shares during the period. 30.31% of the stock is currently owned by institutional investors and hedge funds.

About Holley (NYSE:HLLY)

Holley Inc designs, manufactures, and markets automotive aftermarket products for car and truck enthusiasts in the United States, Canada, Europe, and China. The company's 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.

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