Horizon Global Corp (NYSE:HZN) Sees Large Growth in Short Interest
Horizon Global Corp (NYSE:HZN) was the target of a large growth in short interest during the month of August. As of August 31st, there was short interest totalling 2,143,100 shares, a growth of 11.5% from the July 31st total of 1,922,800 shares. Approximately 12.3% of the company’s shares are short sold. Based on an average daily volume of 150,400 shares, the short-interest ratio is currently 14.2 days.
In related news, Director John C. Kennedy acquired 61,599 shares of the stock in a transaction dated Thursday, August 22nd. The stock was acquired at an average cost of $3.90 per share, with a total value of $240,236.10. Following the purchase, the director now directly owns 799,490 shares of the company’s stock, valued at $3,118,011. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Frederick A. Henderson acquired 15,000 shares of the stock in a transaction dated Tuesday, August 20th. The stock was bought at an average cost of $3.81 per share, with a total value of $57,150.00. Following the completion of the purchase, the director now directly owns 84,199 shares in the company, valued at $320,798.19. The disclosure for this purchase can be found here. Insiders bought a total of 85,543 shares of company stock valued at $333,073 over the last ninety days. Corporate insiders own 1.90% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of HZN. Royce & Associates LP raised its holdings in shares of Horizon Global by 57.1% in the first quarter. Royce & Associates LP now owns 1,689,690 shares of the company’s stock worth $3,278,000 after buying an additional 614,364 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in Horizon Global by 13.1% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 3,487,928 shares of the company’s stock worth $12,522,000 after purchasing an additional 404,930 shares during the period. D. E. Shaw & Co. Inc. increased its holdings in Horizon Global by 12.9% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 446,807 shares of the company’s stock worth $1,604,000 after purchasing an additional 51,118 shares during the period. Finally, Vanguard Group Inc. increased its holdings in Horizon Global by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 848,039 shares of the company’s stock worth $3,044,000 after purchasing an additional 19,689 shares during the period. Hedge funds and other institutional investors own 40.63% of the company’s stock.
Shares of NYSE HZN traded down $0.09 during midday trading on Friday, hitting $4.29. The company’s stock had a trading volume of 226,519 shares, compared to its average volume of 172,670. The business’s 50 day moving average is $4.22 and its two-hundred day moving average is $3.42. Horizon Global has a 12-month low of $1.34 and a 12-month high of $8.50. The firm has a market cap of $110.91 million, a P/E ratio of -3.11 and a beta of 1.35.
Horizon Global (NYSE:HZN) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.13) by ($0.07). Horizon Global had a negative return on equity of 731.99% and a negative net margin of 13.54%. The business had revenue of $223.16 million during the quarter, compared to analysts’ expectations of $241.23 million. As a group, research analysts expect that Horizon Global will post -1.4 EPS for the current year.
About Horizon Global
Horizon Global Corporation designs, manufactures, and distributes a range of towing, trailering, cargo management, and other related accessory products worldwide. It operates in three segments: Horizon Americas, Horizon Asia-Pacific, and Horizon Europe-Africa. The company provides towing products, such as hitches, fifth wheels, gooseneck hitches, weight distribution systems, wiring harnesses, draw bars, ball mounts, crossbars, tow bars, security products, and other towing accessories for attaching a trailer, camper, etc.
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