First Manhattan Co. cut its holdings in shares of Horizon Global Corp (NYSE:HZN) by 16.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 791,785 shares of the company’s stock after selling 156,310 shares during the period. First Manhattan Co.’s holdings in Horizon Global were worth $1,536,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of HZN. GSA Capital Partners LLP purchased a new position in shares of Horizon Global during the fourth quarter valued at approximately $104,000. Prescott Group Capital Management L.L.C. purchased a new position in shares of Horizon Global during the fourth quarter valued at approximately $177,000. California Public Employees Retirement System increased its stake in shares of Horizon Global by 12.7% during the fourth quarter. California Public Employees Retirement System now owns 146,881 shares of the company’s stock valued at $210,000 after buying an additional 16,521 shares during the period. Finally, Royce & Associates LP purchased a new position in shares of Horizon Global during the fourth quarter valued at approximately $1,538,000. 53.38% of the stock is currently owned by hedge funds and other institutional investors.
HZN has been the topic of several research analyst reports. ValuEngine raised Horizon Global from a “hold” rating to a “buy” rating in a research note on Friday, March 1st. Zacks Investment Research raised Horizon Global from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 10th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. Horizon Global has an average rating of “Hold” and an average target price of $7.25.
Horizon Global (NYSE:HZN) last posted its earnings results on Monday, March 18th. The company reported ($1.40) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.86) by ($0.54). The business had revenue of $171.96 million for the quarter, compared to analysts’ expectations of $187.26 million. Horizon Global had a negative net margin of 24.00% and a negative return on equity of 731.99%. On average, analysts predict that Horizon Global Corp will post -0.42 earnings per share for the current year.
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About Horizon Global
Horizon Global Corporation designs, manufactures, and distributes a range of towing, trailering, cargo management, and other related accessory products to the automotive aftermarket, retail, and original equipment channels worldwide. It operates through three segments: Horizon Americas, Horizon Asia-Pacific, and Horizon Europe-Africa.
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