Telsey Advisory Group Reiterates Outperform Rating for Holley (NYSE:HLLY)

Telsey Advisory Group reissued their outperform rating on shares of Holley (NYSE:HLLY) in a research report sent to investors on Thursday morning,Benzinga reports. Telsey Advisory Group currently has a $4.50 price objective on the stock.

Holley Price Performance

Shares of NYSE HLLY opened at $2.47 on Thursday. Holley has a fifty-two week low of $2.29 and a fifty-two week high of $4.58. The company has a 50 day simple moving average of $2.93 and a two-hundred day simple moving average of $2.92. The company has a market capitalization of $295.30 million, a price-to-earnings ratio of 18.96 and a beta of 1.44. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.17 and a current ratio of 2.93.

Insider Activity at Holley

In related news, Director David S. Lobel sold 1,743,356 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $3.00, for a total transaction of $5,230,068.00. Following the completion of the sale, the director now owns 41,556,961 shares of the company’s stock, valued at $124,670,883. This trade represents a 4.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.92% of the stock is owned by insiders.

Institutional Investors Weigh In On Holley

Several institutional investors and hedge funds have recently made changes to their positions in the company. Janney Montgomery Scott LLC increased its position 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 in the last quarter. Aigen Investment Management LP increased its position 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 in the last quarter. SG Americas Securities LLC grew its position in 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 grew its position in Holley by 69.5% in the 3rd quarter. Zacks Investment Management now owns 19,658 shares of the company’s stock worth $58,000 after purchasing an additional 8,061 shares during the period. Finally, BNP Paribas Financial Markets bought a new stake in Holley in the 4th quarter worth approximately $26,000. Institutional investors 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.