Holley Inc. (NYSE:HLLY) Director David S. Lobel Sells 1,743,356 Shares

Holley Inc. (NYSE:HLLY) 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 in the company, valued at $124,670,883. This represents a 4.03 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Holley Price Performance

HLLY stock opened at $2.74 on Thursday. The company has a quick ratio of 1.17, a current ratio of 2.93 and a debt-to-equity ratio of 1.20. The firm has a market cap of $328.24 million, a price-to-earnings ratio of 21.08 and a beta of 1.47. The company’s fifty day simple moving average is $2.79 and its 200 day simple moving average is $3.15. Holley Inc. has a 12-month low of $2.29 and a 12-month high of $5.23.

Holley (NYSE:HLLY) last announced its earnings results on Friday, November 8th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.04). Holley had a net margin of 2.55% and a return on equity of 2.59%. The business had revenue of $134.00 million for the quarter, compared to the consensus estimate of $142.53 million. During the same quarter in the previous year, the company earned $0.03 EPS. The firm’s revenue for the quarter was down 14.4% on a year-over-year basis. On average, analysts expect that Holley Inc. will post 0.12 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Verition Fund Management LLC bought a new position in Holley in the third quarter worth approximately $35,000. Intech Investment Management LLC acquired a new stake in Holley in the 3rd quarter valued at $41,000. Vanguard Personalized Indexing Management LLC bought a new stake in Holley during the 2nd quarter valued at $42,000. SG Americas Securities LLC acquired a new position in Holley during the third quarter worth $52,000. Finally, Virtu Financial LLC bought a new position in shares of Holley in the third quarter valued at $54,000. Institutional investors and hedge funds own 39.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Telsey Advisory Group reduced their target price on shares of Holley from $5.50 to $4.50 and set an “outperform” rating on the stock in a report on Monday, November 11th. Benchmark reissued a “buy” rating and issued a $12.00 price objective on shares of Holley in a research note on Wednesday, September 4th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Holley presently has an average rating of “Moderate Buy” and a consensus price target of $6.63.

About Holley

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.