Holley Stock Rises on New $25M Share Buyback Program
HLLY sits 43% above its 52-week low of $1.905.
Summary
Holley Inc. announced a new share repurchase program of up to $25 million, which caused its stock to rise. This program is material, representing approximately 7.6% of the company's current market capitalization. CEO Matthew Stevenson indicated the buyback reflects management's belief that the current share price undervalues the business's strength and trajectory. This capital allocation strategy complements recent debt reduction and accretive acquisitions, following strong Q1 net income growth and a return to profitability in 2025. The company aims to achieve a net leverage below 3.5x by year-end.
At the time of this announcement, HLLY was trading at $2.73 on NYSE in the Manufacturing sector, with a market capitalization of approximately $328M. The 52-week trading range was $1.91 to $4.48. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.