Key Points
- Holley CFO Jesse Weaver bought 9,000 shares at $2.53 each, spending $22,770. After the purchase, he owned 670,695 shares.
- Holley’s latest quarter fell short of expectations: EPS was $0.06 versus analysts’ $0.07 estimate, while revenue was $141.56 million versus the $145.80 million forecast.
- The stock was reported down 5.8%; analysts’ consensus rating was Moderate Buy, with an average price target of $4.00.
Holley Inc. (NYSE:HLLY - Get Free Report) CFO Jesse Weaver acquired 9,000 shares of Holley stock in a transaction on Tuesday, November 10th. The shares were bought at an average cost of $2.53 per share, with a total value of $22,770.00. Following the completion of the purchase, the chief financial officer owned 670,695 shares in the company, valued at $1,696,858.35. The trade was a 1.36% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link.
Holley Stock Down 5.8%
Holley stock opened at $2.37 on Friday. The stock has a 50 day moving average of $2.56 and a two-hundred day moving average of $2.94. Holley Inc. has a twelve month low of $2.05 and a twelve month high of $4.48. The stock has a market capitalization of $286.71 million, a price-to-earnings ratio of 15.77 and a beta of 1.44. The company has a current ratio of 3.04, a quick ratio of 1.23 and a debt-to-equity ratio of 1.07.
Holley (NYSE:HLLY - Get Free Report) last released its earnings results 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). Holley had a net margin of 3.07% and a return on equity of 9.28%. The company had revenue of $141.56 million during the quarter, compared to analyst estimates of $145.80 million. As a group, research analysts expect that Holley Inc. will post 0.37 earnings per share for the current year.
Institutional Investors Weigh In On Holley
A number of institutional investors have recently added to or reduced their stakes in HLLY. Allspring Global Investments Holdings LLC increased its position in Holley by 2.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 10,066,406 shares of the company's stock worth $23,958,000 after purchasing an additional 258,955 shares during the period. BlackRock Inc. acquired a new stake in shares of Holley in the 2nd quarter valued at approximately $14,361,000. Wasatch Advisors LP boosted its stake in shares of Holley by 35.1% in the second quarter. Wasatch Advisors LP now owns 4,887,038 shares of the company's stock valued at $12,462,000 after buying an additional 1,269,256 shares in the last quarter. Blue Owl Capital Holdings LP purchased a new stake in shares of Holley in the second quarter valued at approximately $11,161,000. Finally, Bamco Inc. NY acquired a new position in Holley during the second quarter worth $8,288,000. Hedge funds and other institutional investors own 39.70% of the company's stock.
Analyst Ratings Changes
A number of equities analysts recently weighed in on HLLY shares. Freedom Capital lowered shares of Holley from a "strong-buy" rating to a "hold" rating in a research report on Thursday, August 13th. Freedom Broker raised shares of Holley from a "hold" rating to a "strong-buy" rating in a research note on Tuesday. Wall Street Zen downgraded shares of Holley from a "buy" rating to a "hold" rating in a research report on Saturday, November 7th. Zacks Research cut shares of Holley from a "strong-buy" rating to a "hold" rating in a research note on Monday, October 5th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Holley in a research note on Tuesday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Holley has an average rating of "Moderate Buy" and an average target price of $4.00.
View Our Latest Stock Report on Holley
Holley Company Profile
(
Get Free Report)
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.
Further Reading
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