Horizon Global (HZN) Position Increased by BlackRock Inc.
BlackRock Inc. boosted its holdings in shares of Horizon Global (NYSE:HZN) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,546,801 shares of the company’s stock after purchasing an additional 25,400 shares during the quarter. BlackRock Inc. owned about 6.20% of Horizon Global worth $21,686,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the stock. Cadence Capital Management LLC bought a new stake in Horizon Global during the 4th quarter valued at approximately $1,620,000. Tygh Capital Management Inc. grew its holdings in Horizon Global by 56.8% during the 4th quarter. Tygh Capital Management Inc. now owns 265,987 shares of the company’s stock valued at $3,729,000 after buying an additional 96,361 shares in the last quarter. Perritt Capital Management Inc. grew its holdings in Horizon Global by 92.9% during the 4th quarter. Perritt Capital Management Inc. now owns 194,102 shares of the company’s stock valued at $2,721,000 after buying an additional 93,500 shares in the last quarter. Northpointe Capital LLC grew its holdings in Horizon Global by 25.9% during the 4th quarter. Northpointe Capital LLC now owns 1,070,443 shares of the company’s stock valued at $15,008,000 after buying an additional 219,992 shares in the last quarter. Finally, GW&K Investment Management LLC grew its holdings in Horizon Global by 4.0% during the 4th quarter. GW&K Investment Management LLC now owns 704,071 shares of the company’s stock valued at $9,871,000 after buying an additional 27,026 shares in the last quarter. 89.68% of the stock is currently owned by institutional investors.
Several research firms have weighed in on HZN. Zacks Investment Research cut Horizon Global from a “hold” rating to a “sell” rating in a report on Tuesday, January 30th. Seaport Global Securities restated a “hold” rating and set a $10.00 price target on shares of Horizon Global in a report on Thursday, January 25th. Bank of America upgraded Horizon Global from an “underperform” rating to a “buy” rating and set a $18.00 price target for the company in a report on Wednesday, February 7th. ValuEngine upgraded Horizon Global from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 25th. Finally, B. Riley began coverage on Horizon Global in a report on Friday. They set a “buy” rating and a $12.50 price target for the company. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $16.93.
Horizon Global (NYSE:HZN) last announced its earnings results on Thursday, March 1st. The company reported ($0.11) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.03. The firm had revenue of $196.00 million during the quarter, compared to analysts’ expectations of $194.59 million. Horizon Global had a positive return on equity of 17.35% and a negative net margin of 0.40%. The company’s quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.37) EPS. research analysts forecast that Horizon Global will post 1.05 earnings per share for the current year.
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About Horizon Global
Horizon Global Corporation designs, manufactures, and distributes a range of towing, trailering, cargo management, and other related accessory products to the automotive aftermarket, retail, and original equipment channels worldwide. It operates through three segments: Horizon Americas, Horizon Asia-Pacific, and Horizon Europe-Africa.
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