Allspring Global Investments Holdings LLC Reduces Position in Holley Inc. (NYSE:HLLY)

Allspring Global Investments Holdings LLC reduced its stake in Holley Inc. (NYSE:HLLY) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,167,850 shares of the company’s stock after selling 41,415 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.08% of Holley worth $30,605,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in HLLY. Cottonwood Capital Advisors LLC purchased a new position in Holley in the 4th quarter valued at about $32,000. Verition Fund Management LLC acquired a new position in shares of Holley in the third quarter valued at approximately $35,000. Intech Investment Management LLC acquired a new position in shares of Holley in the third quarter valued at approximately $41,000. Williams & Novak LLC purchased a new position in shares of Holley during the fourth quarter valued at approximately $44,000. Finally, Janney Montgomery Scott LLC boosted its position in Holley by 25.0% during 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 last quarter. Institutional investors and hedge funds own 39.70% of the company’s stock.

Holley Stock Performance

NYSE:HLLY opened at $2.84 on Friday. The company has a market cap of $339.63 million, a P/E ratio of 21.81 and a beta of 1.42. The firm’s 50 day moving average is $2.95 and its two-hundred day moving average is $2.97. Holley Inc. has a fifty-two week low of $2.29 and a fifty-two week high of $5.22. The company has a quick ratio of 1.17, a current ratio of 2.93 and a debt-to-equity ratio of 1.20.

Insider Transactions at Holley

In other Holley news, Director David S. Lobel sold 1,743,356 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was 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 approximately $124,670,883. The trade was a 4.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Telsey Advisory Group reissued an “outperform” rating and set a $4.50 price target on shares of Holley in a research note on Wednesday, January 8th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Holley has an average rating of “Moderate Buy” and an average price target of $6.63.

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.