Bank of America Corp DE Purchases 374,691 Shares of Holley Inc. (NYSE:HLLY)

Bank of America Corp DE lifted its stake in Holley Inc. (NYSE:HLLY - Free Report) by 53.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,076,956 shares of the company's stock after buying an additional 374,691 shares during the quarter. Bank of America Corp DE owned about 0.90% of Holley worth $3,252,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the business. BNP Paribas Financial Markets bought a new stake in Holley during the 4th quarter valued at $26,000. Atria Wealth Solutions Inc. purchased a new stake in shares of Holley in the fourth quarter worth about $30,000. Catalyst Funds Management Pty Ltd acquired a new position in Holley in the 4th quarter worth about $31,000. Janney Montgomery Scott LLC raised its holdings 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 acquiring an additional 3,210 shares during the last quarter. Finally, Aigen Investment Management LP raised its holdings in shares of Holley by 22.1% during the fourth quarter. Aigen Investment Management LP now owns 18,693 shares of the company's stock valued at $56,000 after acquiring an additional 3,389 shares during the last quarter. Hedge funds and other institutional investors own 39.70% of the company's stock.

Holley Stock Down 2.5%

Shares of NYSE:HLLY opened at $1.95 on Friday. Holley Inc. has a 52 week low of $1.60 and a 52 week high of $4.08. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.17 and a current ratio of 2.93. The company has a market cap of $234.35 million, a PE ratio of 15.00 and a beta of 1.43. The firm has a 50 day simple moving average of $2.20 and a 200 day simple moving average of $2.61.

Holley (NYSE:HLLY - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported $0.02 earnings per share for the quarter, missing analysts' consensus estimates of $0.05 by ($0.03). Holley had a net margin of 2.55% and a return on equity of 2.59%. The business had revenue of $153.04 million for the quarter, compared to the consensus estimate of $148.52 million. As a group, research analysts expect that Holley Inc. will post 0.12 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on HLLY. Benchmark lowered Holley from a "buy" rating to a "hold" rating and set a $5.00 price target for the company. in a research report on Friday, May 9th. Raymond James lifted 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 lowered their price objective on shares of Holley from $4.50 to $2.75 and set an "outperform" rating for the company in a research note on Thursday, May 8th. Truist Financial decreased their price objective on shares of Holley from $5.00 to $3.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Canaccord Genuity Group dropped their price objective on shares of Holley from $6.00 to $5.00 and set a "buy" rating on the stock in a research note on Thursday, May 8th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $3.85.

View Our Latest Stock Analysis on HLLY

Holley 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.

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