Horizon Global Corporation (HZN) Stake Increased by Oppenheimer Asset Management Inc.
Oppenheimer Asset Management Inc. lifted its holdings in Horizon Global Corporation (NYSE:HZN) by 5.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,341 shares of the company’s stock after purchasing an additional 973 shares during the quarter. Oppenheimer Asset Management Inc. owned about 0.08% of Horizon Global Corporation worth $292,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Capital Fund Management S.A. acquired a new stake in shares of Horizon Global Corporation in the 1st quarter worth $149,000. Suntrust Banks Inc. acquired a new stake in Horizon Global Corporation during the 1st quarter worth about $167,000. Sei Investments Co. lifted its position in Horizon Global Corporation by 58.1% during the 2nd quarter. Sei Investments Co. now owns 12,406 shares of the company’s stock worth $178,000 after acquiring an additional 4,561 shares during the period. American International Group Inc. lifted its position in Horizon Global Corporation by 25.7% during the 1st quarter. American International Group Inc. now owns 13,190 shares of the company’s stock worth $183,000 after acquiring an additional 2,700 shares during the period. Finally, Quantbot Technologies LP acquired a new stake in Horizon Global Corporation during the 1st quarter worth about $280,000. 94.02% of the stock is owned by hedge funds and other institutional investors.
HZN has been the subject of a number of research reports. Roth Capital set a $22.00 price target on Horizon Global Corporation and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. BMO Capital Markets reaffirmed a “buy” rating and set a $18.00 price target on shares of Horizon Global Corporation in a research report on Thursday, July 13th. Zacks Investment Research raised Horizon Global Corporation from a “hold” rating to a “buy” rating and set a $16.00 price target for the company in a research report on Wednesday, July 12th. TheStreet raised Horizon Global Corporation from a “d” rating to a “c-” rating in a research report on Friday, May 26th. Finally, BidaskClub cut Horizon Global Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $20.29.
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Shares of Horizon Global Corporation (HZN) opened at 15.78 on Tuesday. Horizon Global Corporation has a 12 month low of $15.69 and a 12 month high of $26.36. The firm’s market cap is $393.49 million. The firm’s 50-day moving average price is $17.00 and its 200-day moving average price is $17.24.
Horizon Global Corporation (NYSE:HZN) last announced its earnings results on Tuesday, August 1st. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.67 by $0.17. Horizon Global Corporation had a negative net margin of 1.45% and a positive return on equity of 18.86%. The business had revenue of $253.60 million during the quarter, compared to the consensus estimate of $241.08 million. The company’s revenue for the quarter was up 51.1% compared to the same quarter last year. Analysts expect that Horizon Global Corporation will post $1.09 earnings per share for the current year.
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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