First Eagle Investment Management LLC Raises Stock Position in Holley Inc. (NYSE:HLLY)

First Eagle Investment Management LLC raised its position in Holley Inc. (NYSE:HLLY - Free Report) by 158.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 211,087 shares of the company's stock after purchasing an additional 129,569 shares during the quarter. First Eagle Investment Management LLC owned 0.18% of Holley worth $637,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Skylands Capital LLC raised its position in Holley by 4.3% in the fourth quarter. Skylands Capital LLC now owns 1,193,983 shares of the company's stock valued at $3,606,000 after purchasing an additional 49,383 shares during the period. Geode Capital Management LLC raised its position in Holley by 5.1% in the third quarter. Geode Capital Management LLC now owns 1,137,811 shares of the company's stock valued at $3,357,000 after purchasing an additional 55,641 shares during the period. Charles Schwab Investment Management Inc. raised its position in Holley by 10.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 443,469 shares of the company's stock valued at $1,308,000 after purchasing an additional 43,053 shares during the period. Raymond James Financial Inc. purchased a new stake in Holley in the fourth quarter valued at approximately $1,058,000. Finally, Empowered Funds LLC raised its position in Holley by 5.2% in the fourth quarter. Empowered Funds LLC now owns 261,928 shares of the company's stock valued at $791,000 after purchasing an additional 12,955 shares during the period. Hedge funds and other institutional investors own 39.70% of the company's stock.

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Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Raymond James upped their price objective on Holley from $3.00 to $3.50 and gave the stock an "outperform" rating in a research report on Wednesday, March 12th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $4.50 price objective on shares of Holley in a research report on Wednesday, March 12th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $6.80.

Holley Stock Performance

Shares of HLLY traded up $0.04 during mid-day trading on Thursday, hitting $2.51. 1,064,010 shares of the company's stock were exchanged, compared to its average volume of 377,119. Holley Inc. has a fifty-two week low of $2.26 and a fifty-two week high of $4.58. The firm has a market capitalization of $300.09 million, a P/E ratio of 19.27 and a beta of 1.44. The business's 50 day moving average is $2.83 and its two-hundred day moving average is $2.87. The company has a current ratio of 2.93, a quick ratio of 1.17 and a debt-to-equity ratio of 1.20.

Holley (NYSE:HLLY - Get Free Report) last announced its earnings results on Tuesday, March 11th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.09. Holley had a net margin of 2.55% and a return on equity of 2.59%. The business had revenue of $140.05 million during the quarter, compared to the consensus estimate of $137.60 million. During the same quarter in the prior year, the firm earned $0.01 earnings per share. The business's quarterly revenue was down 10.1% compared to the same quarter last year. On average, equities analysts expect that Holley Inc. will post 0.12 earnings per share for the current year.

Holley Company Profile

Holley Inc operates as designer, manufacturer, and marketer of automotive aftermarket products for car and truck enthusiasts in the United States, Canada, Europe, and China. Its products span various automotive platforms and sells across multiple channels. The company's performance automotive 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.