Luxor Capital Group LP Has $39.47 Million Stake in Harrow, Inc. $HROW

Luxor Capital Group LP lifted its holdings in shares of Harrow, Inc. (NASDAQ:HROW) by 22.0% during the 1st quarter, Holdings Channel reports. The firm owned 1,119,400 shares of the company’s stock after purchasing an additional 201,859 shares during the quarter. Harrow comprises 2.8% of Luxor Capital Group LP’s holdings, making the stock its 9th largest position. Luxor Capital Group LP’s holdings in Harrow were worth $39,470,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in HROW. Penn Capital Management Company LLC increased its holdings in Harrow by 20.5% in the fourth quarter. Penn Capital Management Company LLC now owns 392,067 shares of the company’s stock worth $19,257,000 after purchasing an additional 66,589 shares in the last quarter. State of Alaska Department of Revenue grew its position in shares of Harrow by 807.4% during the 4th quarter. State of Alaska Department of Revenue now owns 15,807 shares of the company’s stock worth $774,000 after buying an additional 14,065 shares during the period. Jefferson Bridge Capital LLC acquired a new stake in shares of Harrow during the 4th quarter worth approximately $2,587,000. Rice Hall James & Associates LLC increased its stake in shares of Harrow by 8.5% in the 4th quarter. Rice Hall James & Associates LLC now owns 361,998 shares of the company’s stock valued at $17,738,000 after acquiring an additional 28,303 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Harrow by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 1,921,683 shares of the company’s stock valued at $94,162,000 after acquiring an additional 50,889 shares in the last quarter. Institutional investors and hedge funds own 72.76% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. B. Riley Financial reiterated a “buy” rating and set a $65.00 target price (down from $74.00) on shares of Harrow in a research report on Tuesday, April 7th. Cantor Fitzgerald reduced their price target on shares of Harrow from $91.00 to $88.00 and set an “overweight” rating for the company in a report on Wednesday, May 13th. Wall Street Zen downgraded shares of Harrow from a “hold” rating to a “sell” rating in a research note on Saturday, May 16th. Zacks Research upgraded shares of Harrow from a “strong sell” rating to a “hold” rating in a report on Friday, April 3rd. Finally, BTIG Research reissued a “buy” rating and set a $63.00 price objective on shares of Harrow in a research report on Tuesday, July 21st. Eight research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.43.

Harrow Price Performance

Shares of NASDAQ:HROW opened at $38.45 on Friday. Harrow, Inc. has a twelve month low of $28.54 and a twelve month high of $54.85. The stock’s 50 day moving average is $39.11 and its 200-day moving average is $40.86. The company has a quick ratio of 2.30, a current ratio of 2.48 and a debt-to-equity ratio of 10.30. The firm has a market capitalization of $1.43 billion, a price-to-earnings ratio of -93.78 and a beta of 0.26.

Harrow (NASDAQ:HROW) last posted its quarterly earnings results on Monday, May 11th. The company reported ($0.74) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.43) by ($0.31). The business had revenue of $44.20 million during the quarter, compared to analyst estimates of $52.43 million. Harrow had a negative net margin of 5.57% and a positive return on equity of 19.59%. During the same period in the previous year, the business posted ($0.38) EPS. Sell-side analysts forecast that Harrow, Inc. will post 0.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other Harrow news, CFO Andrew R. Boll acquired 3,500 shares of the company’s stock in a transaction on Thursday, May 14th. The shares were purchased at an average cost of $29.90 per share, with a total value of $104,650.00. Following the completion of the purchase, the chief financial officer owned 814,679 shares of the company’s stock, valued at approximately $24,358,902.10. This represents a 0.43% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Adrienne L. Graves acquired 1,000 shares of Harrow stock in a transaction dated Monday, May 18th. The shares were acquired at an average price of $31.07 per share, with a total value of $31,070.00. Following the completion of the acquisition, the director directly owned 1,000 shares of the company’s stock, valued at approximately $31,070. The trade was a ∞ increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. 12.80% of the stock is currently owned by company insiders.

Harrow Company Profile

Harrow Health, Inc (NASDAQ: HROW) is a U.S.-based commercial-stage biopharmaceutical company specializing in ophthalmic therapeutics and diagnostics. The company focuses on the development, manufacturing and distribution of proprietary, generic and branded eye care products designed to treat a range of ocular conditions, including glaucoma, ocular hypertension, dry eye disease and other anterior segment disorders.

Through its wholly owned affiliate ImprimisRx, Harrow Health offers a direct-to-physician model for customized formulations as well as low-cost generic alternatives.