Horizon Global Corporation (HZN) Position Maintained by Weber Alan W
Weber Alan W held its stake in Horizon Global Corporation (NYSE:HZN) during the second quarter, Holdings Channel reports. The firm owned 119,030 shares of the company’s stock at the end of the second quarter. Horizon Global Corporation comprises approximately 0.9% of Weber Alan W’s holdings, making the stock its 24th largest position. Weber Alan W’s holdings in Horizon Global Corporation were worth $1,709,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Boston Partners purchased a new stake in Horizon Global Corporation during the first quarter worth $5,249,000. Capital Fund Management S.A. purchased a new stake in Horizon Global Corporation during the first quarter worth $149,000. Falcon Point Capital LLC purchased a new stake in Horizon Global Corporation during the first quarter worth $717,000. Tocqueville Asset Management L.P. boosted its stake in Horizon Global Corporation by 54.1% in the first quarter. Tocqueville Asset Management L.P. now owns 1,271,251 shares of the company’s stock worth $17,645,000 after buying an additional 446,480 shares in the last quarter. Finally, Northpointe Capital LLC purchased a new stake in Horizon Global Corporation during the first quarter worth $11,091,000. Institutional investors and hedge funds own 92.34% of the company’s stock.
Horizon Global Corporation (HZN) opened at 18.63 on Thursday. Horizon Global Corporation has a 12 month low of $11.80 and a 12 month high of $26.36. The company has a 50 day moving average of $14.90 and a 200 day moving average of $15.41. The stock’s market capitalization is $464.56 million.
Horizon Global Corporation (NYSE:HZN) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $0.84 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 business had revenue of $253.60 million during the quarter, compared to the consensus estimate of $241.08 million. The firm’s quarterly revenue was up 51.1% on a year-over-year basis. On average, equities analysts predict that Horizon Global Corporation will post $1.09 EPS for the current year.
Horizon Global Corporation declared that its Board of Directors has initiated a share buyback plan on Wednesday, May 3rd that allows the company to repurchase 1,500,000 shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.
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A number of research firms have recently weighed in on HZN. 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 on the stock in a report 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 report on Wednesday, August 2nd. BMO Capital Markets raised their price target on shares of Horizon Global Corporation from $18.00 to $20.00 and gave the company an “outperform” rating in a report on Wednesday, August 2nd. TheStreet upgraded shares of Horizon Global Corporation from a “d” rating to a “c-” rating in a report on Friday, May 26th. Finally, BidaskClub cut shares of Horizon Global Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $20.29.
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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