Insider Selling: Holley Inc. (NYSE:HLLY) Director Sells $5,230,068.00 in Stock

Holley Inc. (NYSE:HLLY) Director David S. Lobel sold 1,743,356 shares of the company’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 value 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. The trade was a 4.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Holley Price Performance

Holley stock opened at $2.76 on Friday. The stock has a market capitalization of $330.64 million, a price-to-earnings ratio of 21.23 and a beta of 1.47. Holley Inc. has a 52-week low of $2.29 and a 52-week high of $5.23. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.17 and a current ratio of 2.93. The stock’s 50 day moving average price is $2.79 and its two-hundred day moving average price is $3.14.

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

Wall Street Analysts Forecast Growth

HLLY has been the topic of a number of recent analyst reports. Telsey Advisory Group dropped their price target on shares of Holley from $5.50 to $4.50 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Benchmark restated a “buy” rating and issued a $12.00 target price on shares of Holley in a report on Wednesday, September 4th. One analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Holley presently has a consensus rating of “Moderate Buy” and an average price target of $6.63.

Institutional Trading of Holley

Several large investors have recently made changes to their positions in the company. Verition Fund Management LLC acquired a new position in Holley during the 3rd quarter worth approximately $35,000. Intech Investment Management LLC acquired a new position in shares of Holley during the third quarter worth approximately $41,000. Vanguard Personalized Indexing Management LLC acquired a new position in shares of Holley during the second quarter worth approximately $42,000. SG Americas Securities LLC bought a new position in shares of Holley in the 3rd quarter worth $52,000. Finally, Virtu Financial LLC acquired a new stake in Holley in the 3rd quarter valued at $54,000. 39.70% of the stock is currently owned by institutional investors and hedge funds.

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.