Penn Capital Management Company LLC Acquires New Holdings in Holley Inc. $HLLY

by · The Markets Daily

Penn Capital Management Company LLC purchased a new stake in Holley Inc. (NYSE:HLLY – Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 246,360 shares of the company’s stock, valued at approximately $628,000. Penn Capital Management Company LLC owned 0.20% of Holley at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in HLLY. Cerity Partners LLC purchased a new stake in shares of Holley in the second quarter worth $25,000. Schonfeld Strategic Advisors LLC bought a new position in Holley in the 3rd quarter worth about $34,000. Chicago Partners Investment Group LLC bought a new position in Holley in the 1st quarter worth about $35,000. Sherbrooke Park Advisers LLC purchased a new stake in shares of Holley in the 3rd quarter valued at about $38,000. Finally, Captrust Financial Advisors purchased a new stake in shares of Holley in the 2nd quarter valued at about $44,000. 39.70% of the stock is currently owned by hedge funds and other institutional investors.

Holley Trading Down 1.7%

HLLY stock opened at $2.92 on Friday. The company has a market capitalization of $353.99 million, a PE ratio of 36.50 and a beta of 1.31. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.39 and a current ratio of 3.06. Holley Inc. has a one year low of $2.33 and a one year high of $4.48. The company’s 50 day moving average price is $2.74 and its two-hundred day moving average price is $3.01.

Holley (NYSE:HLLY – Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.12 by $0.08. The company had revenue of $172.01 million for the quarter, compared to analyst estimates of $172.63 million. Holley had a net margin of 1.68% and a return on equity of 8.41%. As a group, analysts predict that Holley Inc. will post 0.39 earnings per share for the current fiscal year.

Holley declared that its board has initiated a stock repurchase program on Tuesday, May 26th that authorizes the company to buyback $25.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 8.2% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Analysts Set New Price Targets

HLLY has been the subject of several recent analyst reports. Raymond James Financial set a $4.00 price objective on Holley in a report on Thursday, May 7th. Canaccord Genuity Group reiterated a “buy” rating and set a $7.00 target price on shares of Holley in a research report on Monday, June 29th. Benchmark cut their price target on shares of Holley from $4.50 to $4.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Zacks Research upgraded shares of Holley from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Finally, Wall Street Zen raised shares of Holley from a “hold” rating to a “buy” rating in a report on Saturday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Holley presently has an average rating of “Moderate Buy” and an average price target of $4.90.

Get Our Latest Analysis on HLLY

Holley Profile

(Free Report)

Holley Inc is a designer, manufacturer and marketer of high‐performance automotive products for the enthusiast market. Through its portfolio of well‐known brands, the company develops fuel delivery systems, intake manifolds, ignition components, nitrous oxide systems, digital controls and other engine‐dress accessories tailored to both street and competition applications. Holley’s products are sold through a network of domestic and international distributors, retailers and directly to professional race teams and hobbyists.

The company’s product offerings span mechanical and electronic fuel injection, carburetion, engine management, add‐on power systems and calibration tools.

See Also