Raymond James Financial Inc. Buys New Holdings in Holley Inc. (NYSE:HLLY)

Raymond James Financial Inc. purchased a new position in Holley Inc. (NYSE:HLLY - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 350,396 shares of the company's stock, valued at approximately $1,058,000. Raymond James Financial Inc. owned 0.29% of Holley as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Atria Wealth Solutions Inc. bought a new stake in shares of Holley during the 4th quarter valued at $30,000. Cottonwood Capital Advisors LLC purchased a new position in Holley during the 4th quarter valued at about $32,000. Verition Fund Management LLC bought a new stake in Holley during the third quarter worth about $35,000. Intech Investment Management LLC purchased a new stake in Holley in the third quarter worth about $41,000. Finally, Williams & Novak LLC bought a new position in shares of Holley during the fourth quarter valued at approximately $44,000. Institutional investors own 39.70% of the company's stock.

Holley Stock Down 0.6 %

Shares of NYSE HLLY traded down $0.02 during midday trading on Tuesday, hitting $2.36. The stock had a trading volume of 611,943 shares, compared to its average volume of 397,545. The business's 50 day moving average is $2.67 and its 200-day moving average is $2.80. Holley Inc. has a 52 week low of $2.26 and a 52 week high of $4.53. The company has a quick ratio of 1.17, a current ratio of 2.93 and a debt-to-equity ratio of 1.20. The company has a market cap of $282.50 million, a P/E ratio of 18.12 and a beta of 1.41.

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

Wall Street Analysts Forecast Growth

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

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.