Rutabaga Capital Management LLC MA decreased its holdings in shares of Horizon Global Corporation (NYSE:HZN) by 1.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 728,943 shares of the company’s stock after selling 11,750 shares during the quarter. Horizon Global Corporation makes up about 2.0% of Rutabaga Capital Management LLC MA’s investment portfolio, making the stock its 21st biggest holding. Rutabaga Capital Management LLC MA owned 2.92% of Horizon Global Corporation worth $10,468,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Nationwide Fund Advisors lifted its stake in Horizon Global Corporation by 253.2% in the first quarter. Nationwide Fund Advisors now owns 41,694 shares of the company’s stock valued at $579,000 after acquiring an additional 29,889 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in Horizon Global Corporation by 16.3% in the first quarter. Parametric Portfolio Associates LLC now owns 79,281 shares of the company’s stock valued at $1,100,000 after acquiring an additional 11,107 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in Horizon Global Corporation by 381.1% in the first quarter. Envestnet Asset Management Inc. now owns 30,500 shares of the company’s stock valued at $423,000 after acquiring an additional 24,161 shares during the last quarter. American International Group Inc. lifted its stake in Horizon Global Corporation by 25.7% in the first quarter. American International Group Inc. now owns 13,190 shares of the company’s stock valued at $183,000 after acquiring an additional 2,700 shares during the last quarter. Finally, Neuberger Berman Group LLC acquired a new stake in Horizon Global Corporation in the first quarter valued at $812,000. Institutional investors and hedge funds own 94.02% of the company’s stock.

Shares of Horizon Global Corporation (NYSE HZN) traded down 0.52% during mid-day trading on Friday, reaching $17.33. 18,787 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $17.33 and its 200 day moving average price is $17.33. The company’s market cap is $432.14 million. Horizon Global Corporation has a 52-week low of $15.67 and a 52-week high of $26.36.

Horizon Global Corporation (NYSE:HZN) last posted its earnings results on Tuesday, August 1st. The company reported $0.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.67 by $0.17. The firm had revenue of $253.60 million during the quarter, compared to analyst estimates of $241.08 million. Horizon Global Corporation had a negative net margin of 1.45% and a positive return on equity of 18.86%. The company’s revenue was up 51.1% on a year-over-year basis. On average, equities research analysts predict that Horizon Global Corporation will post $1.09 EPS for the current year.

In related news, CEO A Mark Zeffiro sold 17,130 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $16.45, for a total value of $281,788.50. Following the transaction, the chief executive officer now directly owns 238,284 shares of the company’s stock, valued at approximately $3,919,771.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.27% of the stock is currently owned by insiders.

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A number of analysts have commented on the stock. BMO Capital Markets reiterated a “buy” rating and issued a $20.00 price target on shares of Horizon Global Corporation in a research note on Friday. Bank of America Corporation cut shares of Horizon Global Corporation from a “neutral” rating to an “underperform” rating in a research note on Tuesday, September 5th. Zacks Investment Research upgraded shares of Horizon Global Corporation from a “hold” rating to a “strong-buy” rating and set a $21.00 price target for the company in a research note on Thursday, August 3rd. Roth Capital set a $22.00 price target on shares of Horizon Global Corporation and gave the company a “buy” rating in a research note on Wednesday, August 2nd. Finally, BidaskClub cut shares of Horizon Global Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $19.83.

Horizon Global Corporation Company 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.

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

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