Holley’s (HLLY) Outperform Rating Reiterated at Telsey Advisory Group

Holley (NYSE:HLLY)‘s stock had its “outperform” rating reiterated by research analysts at Telsey Advisory Group in a research note issued to investors on Thursday,Benzinga reports. They presently have a $4.50 price objective on the stock. Telsey Advisory Group’s target price points to a potential upside of 81.82% from the stock’s previous close.

Holley Stock Performance

NYSE:HLLY opened at $2.48 on Thursday. The stock’s 50-day moving average is $2.94 and its 200-day moving average is $2.92. Holley has a 1-year low of $2.29 and a 1-year high of $4.58. The company has a current ratio of 2.93, a quick ratio of 1.17 and a debt-to-equity ratio of 1.20. The stock has a market cap of $296.50 million, a P/E ratio of 19.04 and a beta of 1.44.

Insider Transactions at Holley

In related news, Director David S. Lobel sold 1,743,356 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $3.00, for a total value of $5,230,068.00. Following the completion of the sale, the director now directly owns 41,556,961 shares in the company, valued at $124,670,883. This represents a 4.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.92% of the stock is owned by company insiders.

Institutional Investors Weigh In On Holley

Several institutional investors and hedge funds have recently made changes to their positions in HLLY. Janney Montgomery Scott LLC lifted its stake in shares of Holley by 25.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 16,035 shares of the company’s stock worth $48,000 after acquiring an additional 3,210 shares during the period. Aigen Investment Management LP raised its holdings in Holley by 22.1% during the 4th quarter. Aigen Investment Management LP now owns 18,693 shares of the company’s stock worth $56,000 after purchasing an additional 3,389 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Holley by 39.8% in the 4th quarter. SG Americas Securities LLC now owns 24,590 shares of the company’s stock worth $74,000 after purchasing an additional 7,002 shares during the period. Zacks Investment Management boosted its stake in shares of Holley by 69.5% in the 3rd quarter. Zacks Investment Management now owns 19,658 shares of the company’s stock valued at $58,000 after purchasing an additional 8,061 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in shares of Holley in the 4th quarter valued at $26,000. Institutional investors and hedge funds own 39.70% 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.