Holley tumbles as top holder to slice stake

** Shares of auto parts maker Holley HLLY.N tumble 16.9% to $3.05 on Weds after secondary offering launched

** HLLY shares at a one-month low and on course for biggest daily pct drop since Mar 12

** Bowling Green, Kentucky-based Holley late Tues announced 14 mln shares to be sold by private equity firm Sentinel Capital Partners

** Sentinel owns ~40.75 mln HLLY shares; if the offering's full overallotment option is exercised its stake would go from 33.8% to 20.5%, per the prospectus filing

** Holley has ~120.5 mln shares outstanding for ~$440 mln market cap through Tues close

** JP Morgan and Jefferies are lead bookrunners for the offering

** With the move on Weds, stock up 1% YTD including ~42% gain over the past three months

** 6 of 8 analysts covering HLLY rate stock "strong buy" or "buy" and 2 rate "hold"; median PT is $3.75, LSEG data reflects