Schwab Charles Investment Management Inc. Has $1.06 Million Stake in Horizon Global Corporation (HZN)

Schwab Charles Investment Management Inc. raised its stake in Horizon Global Corporation (NYSE:HZN) by 19.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 76,404 shares of the company’s stock after purchasing an additional 12,662 shares during the quarter. Schwab Charles Investment Management Inc. owned 0.30% of Horizon Global Corporation worth $1,061,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Renaissance Technologies LLC lifted its position in Horizon Global Corporation by 5.5% in the first quarter. Renaissance Technologies LLC now owns 545,300 shares of the company’s stock valued at $7,569,000 after purchasing an additional 28,200 shares during the last quarter. RMB Capital Management LLC lifted its position in Horizon Global Corporation by 45.7% in the first quarter. RMB Capital Management LLC now owns 217,582 shares of the company’s stock valued at $3,020,000 after purchasing an additional 68,282 shares during the last quarter. UBS Group AG lifted its position in Horizon Global Corporation by 1,148.4% in the first quarter. UBS Group AG now owns 43,357 shares of the company’s stock valued at $602,000 after purchasing an additional 39,884 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Horizon Global Corporation by 26.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,010,260 shares of the company’s stock valued at $14,022,000 after purchasing an additional 208,508 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in Horizon Global Corporation by 18.7% in the first quarter. Geode Capital Management LLC now owns 161,076 shares of the company’s stock valued at $2,235,000 after purchasing an additional 25,360 shares during the last quarter. Hedge funds and other institutional investors own 94.02% of the company’s stock.

Shares of Horizon Global Corporation (NYSE:HZN) opened at 17.14 on Friday. The company has a 50-day moving average price of $17.29 and a 200 day moving average price of $17.98. Horizon Global Corporation has a 52 week low of $16.65 and a 52 week high of $26.36. The stock’s market capitalization is $427.40 million.

Horizon Global Corporation (NYSE:HZN) last issued its quarterly earnings results on Tuesday, August 1st. The company reported $0.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.17. Horizon Global Corporation had a positive return on equity of 18.86% and a negative net margin of 1.45%. The firm had revenue of $253.60 million during the quarter, compared to analyst estimates of $241.08 million. Horizon Global Corporation’s quarterly revenue was up 51.1% compared to the same quarter last year. Equities analysts forecast that Horizon Global Corporation will post $1.09 EPS for the current fiscal year.

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Several analysts have weighed in on the company. BidaskClub downgraded Horizon Global Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. BMO Capital Markets boosted their target price on Horizon Global Corporation from $18.00 to $20.00 and gave the company an “outperform” rating in a research note on Wednesday, August 2nd. Zacks Investment Research raised Horizon Global Corporation from a “hold” rating to a “strong-buy” rating and set a $21.00 target price on the stock in a research note on Thursday, August 3rd. Roth Capital set a $22.00 target price on Horizon Global Corporation and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Finally, TheStreet raised Horizon Global Corporation from a “d” rating to a “c-” rating in a research note on Friday, May 26th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Horizon Global Corporation has an average rating of “Hold” and a consensus target price of $20.29.

Horizon Global Corporation Profile

Horizon Global Corporation is a designer, manufacturer and distributor of a range of custom-engineered towing, trailering, cargo management and other products serving the automotive aftermarket, retail and original equipment (OE) channels. The Company operates through three segments: Horizon Americas, Horizon Asia-Pacific, and Horizon Europe-Africa.

Institutional Ownership by Quarter for Horizon Global Corporation (NYSE:HZN)

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