AlphaOne Investment Services LLC Has $3.16 Million Stake in Horizon Global Corporation (HZN)
AlphaOne Investment Services LLC lifted its stake in Horizon Global Corporation (NYSE:HZN) by 59.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 219,927 shares of the company’s stock after buying an additional 81,648 shares during the period. AlphaOne Investment Services LLC owned approximately 0.88% of Horizon Global Corporation worth $3,159,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently modified their holdings of HZN. Capital Fund Management S.A. purchased a new stake in shares of Horizon Global Corporation in the first quarter worth about $149,000. Suntrust Banks Inc. purchased a new stake in shares of Horizon Global Corporation in the first quarter worth about $167,000. Wilen Investment Management CORP. boosted its position in shares of Horizon Global Corporation by 3.0% in the second quarter. Wilen Investment Management CORP. now owns 12,440 shares of the company’s stock worth $174,000 after buying an additional 360 shares during the period. Sei Investments Co. boosted its position in shares of Horizon Global Corporation by 58.1% in the second quarter. Sei Investments Co. now owns 12,406 shares of the company’s stock worth $178,000 after buying an additional 4,561 shares during the period. Finally, American International Group Inc. boosted its position in shares of Horizon Global Corporation by 25.7% in the first quarter. American International Group Inc. now owns 13,190 shares of the company’s stock worth $183,000 after buying an additional 2,700 shares during the period. 94.02% of the stock is owned by institutional investors.
Several equities research analysts have recently weighed in on the company. Bank of America Corporation downgraded Horizon Global Corporation from a “neutral” rating to an “underperform” rating in a research report on Tuesday, September 5th. BMO Capital Markets reaffirmed a “buy” rating and issued a $18.00 target price on shares of Horizon Global Corporation in a research report on Thursday, July 13th. Zacks Investment Research downgraded Horizon Global Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, July 20th. Roth Capital set a $22.00 target price on Horizon Global Corporation and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Finally, BidaskClub downgraded Horizon Global Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $19.83.
Shares of Horizon Global Corporation (NYSE:HZN) traded down 0.06% during midday trading on Thursday, hitting $16.58. The stock had a trading volume of 31,086 shares. Horizon Global Corporation has a 1-year low of $15.67 and a 1-year high of $26.36. The firm’s market cap is $413.44 million. The firm has a 50-day moving average price of $16.93 and a 200-day moving average price of $16.93.
Horizon Global Corporation (NYSE:HZN) last posted its earnings results on Tuesday, August 1st. The company reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ 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 company had revenue of $253.60 million for the quarter, compared to analyst estimates of $241.08 million. Horizon Global Corporation’s revenue for the quarter was up 51.1% on a year-over-year basis. On average, equities analysts anticipate that Horizon Global Corporation will post $1.09 EPS for the current fiscal year.
In other Horizon Global Corporation news, CEO A Mark Zeffiro sold 17,130 shares of the firm’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $16.45, for a total transaction of $281,788.50. Following the transaction, the chief executive officer now directly owns 238,284 shares in the company, valued at $3,919,771.80. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.27% of the stock is owned by company insiders.
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About Horizon Global Corporation
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.
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