First Eagle Investment Management LLC Grows Stake in Holley Inc. $HLLY

First Eagle Investment Management LLC increased its position in Holley Inc. (NYSE:HLLY) by 32.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 475,297 shares of the company’s stock after acquiring an additional 115,851 shares during the period. First Eagle Investment Management LLC owned about 0.40% of Holley worth $951,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Boston Partners boosted its position in Holley by 65.5% in the first quarter. Boston Partners now owns 2,600,799 shares of the company’s stock worth $6,680,000 after purchasing an additional 1,029,495 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of Holley by 2.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 10,613,820 shares of the company’s stock worth $22,289,000 after purchasing an additional 275,838 shares during the period. Nuveen LLC purchased a new position in shares of Holley in the first quarter worth approximately $515,000. Russell Investments Group Ltd. grew its position in Holley by 12.4% during the first quarter. Russell Investments Group Ltd. now owns 920,936 shares of the company’s stock valued at $2,367,000 after buying an additional 101,800 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in Holley by 20.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 473,950 shares of the company’s stock valued at $1,218,000 after buying an additional 80,366 shares during the last quarter. Hedge funds and other institutional investors own 39.70% of the company’s stock.

Analyst Upgrades and Downgrades

HLLY has been the topic of several recent research reports. Wall Street Zen upgraded shares of Holley from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Raymond James Financial raised their target price on Holley from $2.25 to $3.00 and gave the stock an “outperform” rating in a report on Thursday, August 7th. Canaccord Genuity Group boosted their price target on Holley from $5.00 to $6.00 and gave the company a “buy” rating in a report on Thursday, August 7th. Telsey Advisory Group upped their price target on Holley from $3.50 to $5.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Benchmark raised Holley from a “hold” rating to a “buy” rating and set a $4.00 price objective on the stock in a research report on Friday, August 8th. Five equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $4.20.

Holley Trading Up 35.0%

Shares of HLLY stock opened at $3.69 on Monday. The company has a debt-to-equity ratio of 1.24, a quick ratio of 1.18 and a current ratio of 2.93. The stock has a fifty day simple moving average of $3.17 and a two-hundred day simple moving average of $2.67. The firm has a market capitalization of $444.04 million, a PE ratio of -16.75 and a beta of 1.36. Holley Inc. has a 52-week low of $1.60 and a 52-week high of $4.09.

Holley (NYSE:HLLY) last announced its quarterly earnings data on Friday, November 7th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.04 by ($0.01). The business had revenue of $138.37 million during the quarter, compared to analysts’ expectations of $132.36 million. Holley had a negative net margin of 4.16% and a positive return on equity of 6.80%. Holley has set its FY 2025 guidance at EPS. On average, analysts predict that Holley Inc. will post 0.12 EPS for the current fiscal year.

Insider Buying and Selling

In other Holley news, Director David S. Lobel sold 14,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $2.63, for a total value of $36,820,000.00. Following the completion of the transaction, the director directly owned 26,754,834 shares in the company, valued at $70,365,213.42. This represents a 34.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.92% of the company’s stock.

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.