Kayne Anderson Rudnick Investment Management LLC Decreases Holdings in Holley Inc. (NYSE:HLLY)

Kayne Anderson Rudnick Investment Management LLC trimmed its position in shares of Holley Inc. (NYSE:HLLY - Free Report) by 6.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,525,657 shares of the company's stock after selling 584,595 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 7.12% of Holley worth $25,747,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of HLLY. Atria Wealth Solutions Inc. acquired a new stake in shares of Holley during the fourth quarter valued at $30,000. Catalyst Funds Management Pty Ltd acquired a new stake in shares of Holley during the 4th quarter worth about $31,000. Cottonwood Capital Advisors LLC purchased a new stake in shares of Holley during the fourth quarter worth about $32,000. Williams & Novak LLC acquired a new position in shares of Holley in the fourth quarter valued at approximately $44,000. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Holley by 25.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 16,035 shares of the company's stock valued at $48,000 after buying an additional 3,210 shares during the period. Institutional investors and hedge funds own 39.70% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on HLLY. Raymond James lifted their target price on shares of Holley from $3.00 to $3.50 and gave the stock an "outperform" rating in a research note on Wednesday, March 12th. Truist Financial lowered their price objective on Holley from $5.00 to $3.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Telsey Advisory Group reiterated an "outperform" rating and set a $4.50 target price on shares of Holley in a research report on Wednesday, March 12th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, Holley has an average rating of "Buy" and an average target price of $6.00.

Holley Stock Performance

Shares of HLLY remained flat at $2.07 during mid-day trading on Friday. 291,308 shares of the company's stock were exchanged, compared to its average volume of 421,620. Holley Inc. has a 52 week low of $1.93 and a 52 week high of $4.18. The company's fifty day simple moving average is $2.46 and its two-hundred day simple moving average is $2.73. The firm has a market capitalization of $248.32 million, a PE ratio of 15.92 and a beta of 1.41. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.17 and a current ratio of 2.93.

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